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Respite, as CGC Adeniyi cancels
25% penalty on improperly imported vehicles
There is respite for freight forwarders and importers, as the Nigeria Customs Service (NCS), under the leadership of CGC Bashir Adewale Adeniyi MFR, has cancelled the 25% penalty on
improperly imported vehicles.
The top Customs management acted on the directives of the Honourable Minister of Finance and Coordinating Minister of the Economy, by initiating a 90-day window, effective from March 4, 2024 to July 5, 2024, for regularisation of import duties on specific categories of vehicles.
Therefore, to ease economic hardship and encourage compliance, the Minister approved suspension of the 25% penalty previously imposed, in addition to import duty on improperly imported vehicles.
As such, stakeholders, including vehicle owners, importers and agents, are encouraged to use this opportunity to regularise import duty payments within the designated 90 days timeframe.
