The Federal Government has suspended the 25 percent penalty previously imposed on improperly imported vehicles.
The announcement was made by Abdullahi Maiwada, the national public relations officer of the Nigeria Customs Service (NCS), in a statement released on Friday.
Maiwada disclosed that the cancellation of the penalty was approved by Wale Edun, the Minister of Economy and Coordinating Minister of Finance, as part of measures to ease economic hardships and encourage adherence to import regulations.
Furthermore, the NCS has been directed to implement a 90-day window, effective from March 4, 2024, to July 5, 2024, allowing vehicle owners, importers, and agents to regularize import duties on specific categories of vehicles.
“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 4th, 2024, to July 5th, 2024, for the regularisation of import duties on specific categories of vehicles,” stated Maiwada.
“To ease economic hardship and encourage compliance, the Honourable Minister and Coordinating Minister of the Economy has approved the suspension of the 25 percent penalty previously imposed in addition to import duty on improperly imported vehicles.”
Stakeholders in the importation sector, including vehicle owners, importers, and agents, are urged to take advantage of the 90-day period to rectify import duty payments in accordance with the specified guidelines.
This development follows the customs’ announcement on March 3, 2024, of a 90-day window for the regularization of import duties on specific categories of vehicles.
As per the import regulations, both an import duty and a 25 percent penalty must 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.
