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NCS lifts 25% penalty on improperly imported vehicles
In a move aimed at alleviating economic burdens and promoting compliance, the Nigeria Customs Service (NCS) has announced the suspension of the 25% penalty previously imposed on improperly imported vehicles.
Under the directives of the Honourable Minister of Finance and Coordinating Minister of the Economy, a 90-day window has been initiated, effective from March 4th to July 5th, 2024, allowing for the regularisation of import duties on specific categories of vehicles.
The decision comes as part of efforts to provide relief to stakeholders, including vehicle owners, importers, and agents, encouraging them to take advantage of the designated timeframe to regularise import duty payments.
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This measure is expected to ease economic hardships and foster greater compliance within the importation sector.
Chief Superintendent Abdullahi Maiwada, National Public Relations Officer for the Comptroller General of Customs, emphasized the importance of this initiative in promoting transparency and adherence to import regulations.
With this suspension, stakeholders are urged to act promptly and ensure compliance within the specified 90-day period.
See statement below:
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