July 19, 2024

Customs Suspends 25% penalty on improperly imported vehicles

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Customs Suspends 25% penalty on improperly imported vehicles

By Ossy Onyenwezi

The Nigeria Customs Service (NCS) on Friday made it known that the federal government has authorised the suspension of the 25 per cent penalty previously imposed in addition to import duty on improperly imported vehicles.

In a statement signed by the NCS National Spokesman, Abdullahi Maiwada, the Service revealed that the Honourable Minister and Coordinating Minister of the Economy have approved the suspension of the 25% penalty previously imposed in addition to import duty on improperly imported vehicles

According to the NCS statement, “The Nigeria Customs Service (NCS), under the directives of the Honourable Minister of Finance and Coordinating Minister of the Economy, 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.

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