The Nigeria Customs Service (NCS), has announced the cancellation 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, the NCS had initiated a 90-day window, effective from 4th March 2024 to 5th July 2024, for the regularization of import duties on specific categories of vehicles.
On Friday, a press statement was released, announcing the removal of the 25% fine for vehicles that were improperly imported:
PRESS RELEASE
CANCELLATION OF 25% PENALTY ON IMPROPERLY IMPORTED VEHICLES
1. The Nigeria Customs Service (NCS), under the directives of the Honourable Minister of Finance and Coordinating Minister of the Economy, has initiated a 90-day window, effective from 4th March 2024 to 5th July 2024, for the regularisation of import duties on specific categories of vehicles.
2. To ease economic hardship and encourage compliance, the Honourable Minister and Coordinating Minister of the Economy have approved the suspension of the 25% penalty previously imposed in addition to import duty on improperly imported vehicles.
3. Stakeholders, including vehicle owners, importers, and agents, are encouraged to seize this opportunity to regularise import duty payments within the designated 90-day timeframe.
ABDULLAHI MAIWADA
Chief Superintendent of Customs
National Public Relations Officer
for Comptroller General of Customs
22 March 2024