FG Waives 25% Fine For Vehicles That Are Improperly Imported

The Nigeria Customs Service waives the 25% fine for automobiles that are improperly imported.

The Nigeria Customs Service (NCS) has announced the regularization of import tariffs on certain kinds of automobiles for a period of ninety days, beginning on March 4, 2024, and ending on July 5, 2024.

The NCS spokeswoman, Abdullahi Maiwada, stated in a statement on Friday that the decision originated with Wale Edun, the honorable minister of finance and coordination minister of the economy.

A portion of the declaration said: “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.”

The statement reads;

CANCELLATION OF 25% PENALTY ON IMPROPERLY IMPORTED VEHICLES

1. 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.

2. 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.

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

ABDULLAHI MAIWADA

Chief Superintendent of Customs

National Public Relations Officer

for Comptroller General of Customs

22 March 2024