The Nigeria Customs Service has announced the suspension of the 25% penalty previously imposed alongside import duty on improperly imported vehicles.
This decision, revealed in a statement by Abdullahi Maiwada, the National Public Relations Officer of NCS, on Friday, March 22, 2024, follows a directive from the Minister of Finance and Coordinating Minister of the Economy, Wale Edun.
Minister Edun had earlier introduced a 90-day window, effective from March 4, 2024, to July 5, 2024, for the regularization of import duties on specific vehicle categories. The aim of this initiative is to alleviate the burden on stakeholders and encourage compliance. Maiwada urged vehicle owners, importers, and agents to take advantage of this opportunity.
The statement from Maiwada emphasized, “The Nigeria Customs Service, under the directives of the Honourable Minister of Finance and Coordinating Minister of the Economy, has initiated a 90-day window, effective from March 4, 2024, to July 5, 2024, for the regularization of import duties on specific categories of vehicles.”
Recall that on March 3, the NCS, under the guidance of Finance Minister Wale Edun, announced a 3-month period for the regularization of import duties for certain vehicle categories improperly imported into the country. Abdullahi Maiwada, the NCS spokesperson, highlighted that this measure primarily targets vehicles brought into Nigeria without proper customs duties paid or those detained for undervaluation.
The service clarified that this initiative applies specifically to vehicles imported into Nigeria where the required customs duty has not been fulfilled or vehicles detained due to undervaluation. As per the announcement, import duty and a 25% penalty are to be paid in accordance with the import guidelines, procedures, and documentation requirements outlined for used vehicles under the Destination Inspection Scheme in Nigeria (2013) and the NCS Act 2023.
