FG Cancels 25% Penalty on Improperly Imported Vehicles

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CGC Adewale Adeniyi

By Innocent Orok

The Federal government through the Ministry of Finance has cancel the earlier imposed 25% penalty on Improperly Imported Vehicles into the Country.

Instead, the government has given a 90 days window for importers to regularised their documents and clear such vehicles from the ports.

This directive was contained in a press statement issued on Friday by ABDULLAHI MAIWADA, Chief Superintendent of Customs and National Public Relations Officer of the NCS on behalf of the Comptroller General of Customs.

The statement reads:

“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.

“To ease economic hardship and encourage compliance, 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.

“Stakeholders, including vehicle owners, importers, and agents, are encouraged to seize this opportunity to regularise import duty payments within the designated 90-day timeframe.”

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