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Customs approves cancellation of 25% penalty on improperly imported vehicles

 

By Ajibola Adedoye

 

This is a cheering report as Nigeria Customs Service (NCS) 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.

 

Abdullahi Maiwada, National Public Relations Officer of NCS who made this known in a statement issued to journalists on Friday, March 22, 2024 disclosed that the decision was taken under the directives of the Honourable Minister of Finance and Coordinating Minister of the Economy,

 

The statement read:”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.

 

“Stakeholders, including vehicle owners, importers, and agents, are encouraged to seize this opportunity to regularise import duty payments within the designated 90-day timeframe” the statement concluded.

 

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