VIN Valuation has come to stay – Echoes Compt Yusuf

VIN Valuation has come to stay – Echoes Compt Yusuf

… Enlightens stakeholders, tasks importers on honest declaration

The Customs Area Controller (CAC) of Ports Terminal Multiservices Limited (PTML), Compt Saidu Abba Yusuf, has said that Vehicle Identification Number (VIN) valuation in clearing imported vehicles coming into the country has come to stay.

As such, Compt Abba Yusuf urged importers of vehicles and their agents to ensure honest declarations of imported vehicles to fast-track the clearing process at ports.

He made these assertions during stakeholders’ sensitisation meeting, held on the importance of VIN valuation in the system.

The CAC strongly dispelled the rumour that the VIN method has been cancelled. He reiterated an earlier position on the statement issued by the management of Nigeria Customs Service from the headquarters, stressing that VIN Valuation Process remains fully operational and effective.

He added; “trim numbers are critical in identifying distinct versions or tiers within a specific car model. They delineate varying configurations, features and levels of equipment associated with different models.

“The CAC explained that trim numbers of vehicles are not the same for all kinds, while urging declarants to have their transaction values. He blamed some declarants for not being transparent because they input what they think is the lowest base value, which necessitates interventions like demand notice and alerts.

He advised them to apply invoice and transaction values as a way of promoting transparency and building integrity in the trade process of vehicle clearance.

Comptroller Yusuf said Section 24 of Nigeria Customs Service Act (NCSA) 2023, provides for advance ruling for stakehokders to submit to NCS before a transaction; and the ruling will be binding on the Service and importer or agent. This according to the Controller is a unique trade facilitation method provided for by the new law

The CAC who described the meeting as being in line with the law also said Customs stakeholders partnership is a provision of section 29 of NCSA 2023.

According to him, meeting is meant to discuss, identify challenges and jointly work out solutions on how best to resolve the challenges. He added that the meeting is also in tandem with WCO and WTO trade facilitation requirements encouraging consultations.

He reminded the stakeholders that the use of code 846 for clearing of non standard VIN has been further modified to reduce human contact through what he called e-846. This saves time and makes trade easier.

“I must commend the system because the reduction of human contact is very effective and beneficial to all, as it saves time. I personally monitor electronically from my office and can confirm that my officers are implementing it diligently.

” When ever you are experiencing delay in the process under my Command, please draw my attention to it. My doors are open and will be more open to all of you. The help desk headed by the Command’s Public Relations Officer is active and responding to all inquiries online and in real time”, Comptroller Yusuf said.