Customs unveils fast track 2.0 to facilitate trade compliance

The Nigeria Customs Service in collaboration with the World Bank under the Accelerating Revenue Mobilisation Reforms Program (ARMOR), has initiated the modalities for migration from Fast Track Regime to Fast Track 2.0 (FT 2.0).

This system is targeted at rewarding compliance and facilitating trade by admitting traders based on their adherence to regulations and contribution to trade in Nigeria, a statement yesterday by the Customs National PRO, CSC Abdullahi Maiwada has said.

“By introducing Fast Track 2.0, the Nigeria Customs Service aims to streamline trade processes, promote compliance, and create a more efficient and rewarding environment for traders.

“When fully operational, FT 2.0 is expected to encourage traders to comply with Customs regulations and rules. One of the main advantages is the potential for significant cost reductions associated with cargo handling and demurrage at the ports.

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“Traders who are interested in taking advantage of this facility can access more information and apply through the website,” the statement further explained.