The Nigeria Customs Service (NCS) has declared a suspension of the additional 25 percent penalty that was levied alongside the import duty on vehicles brought into the country without proper documentation.
This development was disclosed in an official statement by Abdullahi Maiwada, the National Spokesman for the NCS.
The suspension, sanctioned by the Honourable Minister and the Coordinating Minister of the Economy, is a significant change from the previous policy regarding the importation of vehicles.
According to the NCS statement, “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.
“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.”
