The Nigeria Customs Service (NCS) has taken a significant step by suspending the previously imposed 25% penalty on improperly imported vehicles, in addition to import duty. This decision comes as a relief to many stakeholders within the importation sector.


This move, according to the Customs Service, follows directives from the Honourable Minister of Finance and Coordinating Minister of the Economy, Wale Edun.


As part of this decision, a 90-day window has been initiated, effective from 4th March 2024 to 5th July 2024, specifically for the regularisation of import duties on certain categories of vehicles.


Chief Superintendent of Customs National Public Relations Officer for Comptroller General of Customs, Abdullahi Maiwada, conveyed this development in a statement issued on Friday.


The statement emphasized the intention behind this initiative, citing the desire to alleviate economic hardships and promote compliance among stakeholders.


Read More: https://naijaupdate.ng/customs-suspends-25-penalty-on-improperly-imported-vehicles/

Price to sky roocket soon