Customs suspends 25% penalty on smuggled vehicles users

Following the directive of the Minister of Finance and the Coordinating Minister of the Economy, Wale Edun, the Nigeria Customs Service, NCS, on Friday, suspended the 25 percent penalty imposed as a surcharge on improperly imported vehicles.

A press statement by the national public relations officer of the service, Abdullahi Maiwada, urged stakeholders, including vehicle owners, importers, and agents to use the opportunity to regularise their vehicle’s import duty payments within 90 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 4th March 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 per cent 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.”