Following the directive of the Minister of Finance and the Coordinating Minister of the Economy, Wale Edun, the Nigeria Customs Service, NCS, suspended the 25 percent penalty imposed as a surcharge on improperly imported vehicles on Friday.
In a news release, Abdullahi Maiwada, the service’s national public relations officer, advised all relevant parties—vehicle owners, importers, and agents—to seize the chance and regularize their vehicle’s import duty payments within ninety days.
The statement reads: “NCS under the directives of the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has initiated a 90-day window, effective from March 4, 2024, to 5th July 2024, for the regularisation of import duties on specific categories of vehicles.
“To ease economic hardship and encourage compliance, the Minister approved the suspension of the 25 percent 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.”
