Customs Suspends 25% Penalty On Improperly Imported Vehicles

The Nigeria Customs Service (NCS), has suspended the 25% penalty previously imposed in addition to import duty on improperly imported vehicles.

According to the Customs Service, this was under the directives of the Honourable Minister of Finance and Coordinating Minister of the Economy, Wale Edun, who also 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.

This was contained in a statement signed on Friday by Chief Superintendent of Customs National Public Relations Officer for Comptroller General of Customs, Abdullahi Maiwada

The communique also revealed this initiative was to ease economic hardship and encourage compliance,

”Stakeholders, including vehicle owners, importers, and agents, are encouraged to seize this opportunity to regularise import duty payments within the designated 90-day timeframe.”