Customs cancels 25% penalty on improperly imported vehicles

The 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, spokesperson of the NCS, said in a statement yesterday that the directive is from the Minister of Finance and Coordinating Minister of the Economy, Wale Edun.

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Part of the statement reads: “To ease economic hardship and encourage compliance, the Honourable Minister and Coordinating Minister of the Economy has 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.”