VIN valuation process remains fully operational, effective – NCS
Story from Haruna YUSUF
Nigeria Customs Service (NCS) has addressed some media reports it tagged as ‘misleading’ regarding the Vehicle Identification Number (VIN) valuation
This was contained in a press statement made available to newsmen by Customs National Public Relations Officer, Abdullahi Maiwada.
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According to the statement, the information being released is misleading and aim to distort the truth, thereby misinforming the public.
It said it is true that a circular about the “examination and release of used vehicles” has been highlighted, but it is important to note that the VIN Valuation Process is still fully operational and effective.
The circular specifically addresses imported used vehicles equipped with trim numbers, which play a crucial role in identifying different versions or tiers within a specific car model.
These trim levels vary in terms of configurations, features, equipment levels, technological advancements, and even engine options.
For example, a car model may have trim levels such as “Base,” “Sport,” “Luxury,” and “Premium.” Each of these trim levels can have variations in features such as premium leather seats, advanced infotainment systems, upgraded wheels, and enhanced safety features. As a result, the value of the vehicle increases compared to the base model.
To ensure fairness and accuracy, the NCS requires imported used vehicles with trim numbers to undergo valuation at the Valuation Seat after a thorough examination.
This process is in place to determine the correct Customs value of the vehicle.
The NCS urges the public to disregard the misleading report and encourages individuals to engage with the various Customs Formations located across the nation for any necessary clarification or additional information they may require.
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