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Forex, Border Control Soar Prices Of Fairly Used Cars - Car Talk - Nairaland

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Forex, Border Control Soar Prices Of Fairly Used Cars by iwaeda: 10:55am On Mar 25, 2021
The prices of fairly used cars known as ‘Tokumbo’ have skyrocketed due to tight border control and soaring exchange rates.

A cross-section of car dealers, who spoke with NAN in Abuja on Thursday, lamented that the development was stiffening them out of business.

Alhaji Ali Adamu, a car dealer told the Agency that in the past one month, it had been difficult for him to move cars from Cotonou in the Benin Republic to Nigeria.

Adamu said many vehicles that were brought through unapproved routes were seized by officers and men of the Nigeria Customs Service (NCS).

“We are all apprehensive now; nobody wants to take a risk of bringing in cars through our usual routes to avoid customs checks and seizure.

“I and other dealers here, now go to Lagos to buy already cleared vehicles where customs duties are paid on them to sell.

“By the time you add the duty charges, you will realise it is no longer business as usual,’’
he said.

Another car dealer, Faisal Shehu, attributed the increase in the current prices of cars to a high exchange rate.

Shehu disclosed that a 2008 model fairly used Toyota Camry from Europe that used to be sold at N1.8 million now sells at between N2.8 million and N3 million.

According to him, a model of Peugeot 406 is now selling at N3.2 million as against N1.8 million.

Mr Mark Atabo, who sells Nigeria used cars in Abuja said the high price of Tokunbo cars had pushed people to go for Nigeria used cars.

He said that due to the high demand and scarcity, the prices of Nigerian used cars had also gone up.

Atabo stated that the price of Nigerian used Peugeot 206 had risen to N1 million from N650,000 sold a few months ago.

He said the price of a used Honda Accord, 2008 model had also gone up to N2 million from N1.5 million.

Meanwhile, Mrs Margaret John, who came in search of a Nigerian used Toyota Camry (pencil light) told NAN at a car mart in Abuja that she was amazed at the sudden increase in the prices of cars.

She said that for more than one month now, she has been searching for a used Toyota Camry to buy but could not get it.

She decried the high cost of Tokunbo cars, adding that she could not afford that hence the reason for her interest in the Nigerian used cars.

NAN reports that the Comptroller-General of Customs, retired Col. Hameed Ali, had said that the service had tightened the borders through effective policing in collaboration with customs in neighbouring countries.

When Ali was hosted at NAN flagship programme, ‘NAN Forum’ recently, he disclosed that a joint border patrol had been set up in conjunction with neighbouring Benin Republic and Niger to ensure effective policing of the borders.

“We reopened our borders and we are now working with our neighbours, our counterparts in Niger and Benin Republic.

“We have to come up with a concept that now gives us the chance to monitor and manage our borders without closing the exits and entrances.

“So, that is how we came up with joint border patrol,’’ he explained.

Ali said that every country involved had established its own patrol but there had been synergy so far among the operators of this joint border patrol.

According to him, officers and men involved in this patrol often communicate and share intelligence with one another for effective management of borders.

“If there are movements of illicit persons or goods, they communicate from that end to our end, so also we do.

“We have also exchanged the list of prohibited items, like those items the Benin Republic do not want in its country.

“So, we make sure we block them here before they cross.

“Also from the other side, there are things we don’t want to see in Nigeria.

“For instance, poultry products are still prohibited from entering Nigeria.

“The agreement is that, on monthly basis, we will continue to get reports on how things are unfolding.

“On a daily basis, there will be an interaction between them and it is our hope that this will help in reducing the influx of illicit items in or out of Nigeria.”

[NAN]

https://www.vanguardngr.com/2021/03/forex-border-control-soar-prices-of-fairly-used-cars/amp/

2 Likes 1 Share

Re: Forex, Border Control Soar Prices Of Fairly Used Cars by IamFINESSE: 11:13am On Mar 25, 2021
grin

1 Like

Re: Forex, Border Control Soar Prices Of Fairly Used Cars by iwaeda: 11:14am On Mar 25, 2021
What is not sky rocketing in this era?

24 Likes 1 Share

Re: Forex, Border Control Soar Prices Of Fairly Used Cars by dawnomike(m): 11:37am On Mar 25, 2021
Smuggling of cars through the northern border has was been easy before now while custom officials in the west would nearly kill smugglers in the west.

19 Likes

Re: Forex, Border Control Soar Prices Of Fairly Used Cars by Kingdemu: 2:18pm On Mar 25, 2021
dawnomike:
Smuggling of cars through the northern border has was been easy before now while custom officials in the west would nearly kill smugglers in the west.
They still bring in cars daily through the northern boarders most especially Katsina boarder

62 Likes 4 Shares

Re: Forex, Border Control Soar Prices Of Fairly Used Cars by iwaeda: 3:30pm On Mar 25, 2021
Kingdemu:
They still bring in cars daily through the northern boarders most especially Katsina boarder

Through Benin Republic -Shaaki- Kwara axis too.

7 Likes

Re: Forex, Border Control Soar Prices Of Fairly Used Cars by sultaan(m): 4:21pm On Mar 25, 2021
Those of you in the southwest axis are saboteurs and those in the Northern side are traders

18 Likes

Re: Forex, Border Control Soar Prices Of Fairly Used Cars by iwaeda: 4:29pm On Mar 25, 2021
sultaan:
Those of you in the southwest axis are saboteurs and those in the Northern side are traders
Lalasticlala.

2 Likes

Re: Forex, Border Control Soar Prices Of Fairly Used Cars by Authoreety: 5:41pm On Mar 25, 2021
Na wa o
Re: Forex, Border Control Soar Prices Of Fairly Used Cars by inoki247: 5:41pm On Mar 25, 2021
This Government wants everyone to trek that's why they also wants to increase the fuel price for people who already owns a car...

8 Likes

Re: Forex, Border Control Soar Prices Of Fairly Used Cars by GreaterFuture(m): 5:41pm On Mar 25, 2021
Hmmn
Re: Forex, Border Control Soar Prices Of Fairly Used Cars by Greatbext: 5:42pm On Mar 25, 2021
It is well
Re: Forex, Border Control Soar Prices Of Fairly Used Cars by NwaNimo1(m): 5:42pm On Mar 25, 2021

36 Likes

Re: Forex, Border Control Soar Prices Of Fairly Used Cars by Taxkollectoo: 5:42pm On Mar 25, 2021
Too bad

1 Like 1 Share

Re: Forex, Border Control Soar Prices Of Fairly Used Cars by omoadeleye(m): 5:43pm On Mar 25, 2021
Wahala for who wan buy cars by this time.

1 Like

Re: Forex, Border Control Soar Prices Of Fairly Used Cars by manitoba(m): 5:45pm On Mar 25, 2021
The guy that trekked for PMB will surely be a good mentor to many BMC members. lol

8 Likes 1 Share

Re: Forex, Border Control Soar Prices Of Fairly Used Cars by DrObum(m): 5:45pm On Mar 25, 2021
Odiegwu but northern border dey leak.

4 Likes 1 Share

Re: Forex, Border Control Soar Prices Of Fairly Used Cars by Nobody: 5:45pm On Mar 25, 2021
E be like I go migrate go niger republic, everything just dey sky rocket.

What goes up must surely come down, not inflation in nigeria tho.

Even uber2.2 don increase in price.

1 Like

Re: Forex, Border Control Soar Prices Of Fairly Used Cars by Latidoh1: 5:46pm On Mar 25, 2021
This country sef na tokunbo.

1 Like

Re: Forex, Border Control Soar Prices Of Fairly Used Cars by iLegendd(m): 5:46pm On Mar 25, 2021
Let everything just crumble — we no longer care that much.

1 Like

Re: Forex, Border Control Soar Prices Of Fairly Used Cars by Edutours1717: 5:47pm On Mar 25, 2021
B
Re: Forex, Border Control Soar Prices Of Fairly Used Cars by TOPCRUISE(m): 5:49pm On Mar 25, 2021
As if the cars were poisoned. Customs and their wahala angry
Re: Forex, Border Control Soar Prices Of Fairly Used Cars by CarGuideNG: 5:51pm On Mar 25, 2021
Re: Forex, Border Control Soar Prices Of Fairly Used Cars by Lavisha(f): 5:51pm On Mar 25, 2021
omoadeleye:
Wahala for who wan buy cars by this time.
Last December, I wanted to sell my Honda Accord DC for 650k, the buyer come dey do anyhow, new he's begging for 800k and I ain't selling shit..

8 Likes

Re: Forex, Border Control Soar Prices Of Fairly Used Cars by bigdammyj: 5:52pm On Mar 25, 2021
Noted
Re: Forex, Border Control Soar Prices Of Fairly Used Cars by computerglobal(m): 5:54pm On Mar 25, 2021
Re: Forex, Border Control Soar Prices Of Fairly Used Cars by Blackdisciple(m): 5:56pm On Mar 25, 2021
Kingdemu:
They still bring in cars daily through the northern boarders most especially Katsina boarder

No mind those people joor...

1 Like

Re: Forex, Border Control Soar Prices Of Fairly Used Cars by adonainana: 6:00pm On Mar 25, 2021
I feel sorry for poor people currently living in Nigeria atm

Like imagine being on a 40k monthly salary when are you going to save to buy a 2.8 million naira tokunbo car

Tokunbo means foreign used so the cars are not brand new, it’s only recommendable because the roads and maintenance culture of where they were driven was okay

Like fairly used it will take the average Nigerian earner 70 months 5 years and 8 months to buy to save for a car if he saves all of his salary 40k per month

Wow
I feel sorry for poor people in this country called Nigeria so sorry

23 Likes

Re: Forex, Border Control Soar Prices Of Fairly Used Cars by K4daniel: 6:02pm On Mar 25, 2021
Omo na so i asked for the price of my lexus i heard 4.5 yeeeee..I never knew that cars have gone so high.. no wonder people now go for Ford edge..its cheaper...
Re: Forex, Border Control Soar Prices Of Fairly Used Cars by MostIncredibleDFirst: 6:10pm On Mar 25, 2021
This luxury sedan by Mercedes is available for sale.
It's a few months used 2009 Mercedes Benz C300 4matic. - 2.9M only.

Call at 08039795959 for inspection.

Neat. Stylish. Sophisticated. Affordable. Luxurious.

1 Like

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