The Nigeria Customs Service (NCS) has recently announced a significant measure aimed at enhancing compliance and streamlining import processes in the country. In a press release dated March 3rd, 2024, the NCS revealed the approval of a 90-day (3-month) window for the payment of import duties on improperly imported vehicles.
Under this new initiative, vehicle valuation and assessment will be conducted using the VIN (Vehicle Identification Number) valuation method. Import Duty, along with a 25% penalty, will also be required to be paid within the stipulated timeframe.
However, it’s important to note that vehicles seized and condemned will not be released under this arrangement. Instead, they will be forfeited to the Federal Government in accordance with existing regulations.
The announcement by the Customs National Public Relations Officer, CSC Abdullahi Maiwada, highlighted the proactive approach taken by the Nigeria Customs Service to facilitate compliance and address challenges in import processes.
The initiative specifically targets vehicles imported into Nigeria where the required customs duty has not been fulfilled or vehicles detained due to undervaluation. Vehicle owners, importers, and agents seeking to regularize import duties on their vehicles are required to apply to the respective Zonal Coordinators or the CAC FCT Command.
Applicants must submit necessary documents and undergo the Vreg process in accordance with directives from the Federal Ministry of Finance for the registration of imported motor vehicles.
Valuation and assessment of the vehicles will be conducted using the VIN valuation method, and import duty payments, along with the 25% penalty, must adhere to import guidelines, procedures, and documentation requirements outlined in the Destination Inspection Scheme in Nigeria (2013) and the Nigeria Customs Service Act 2023. Duty payments must be made using the Procedure Code specifically designated for this exercise.
The Nigeria Customs Service emphasized its commitment to facilitating compliance and encouraged all stakeholders to take advantage of this opportunity within the provided timeframe.
