HomeNewsCustoms Cancels 25% Penalty On Vehicles

Customs Cancels 25% Penalty On Vehicles

The 25 percent penalty previously imposed, in addition to import duty, on improperly imported vehicles has been suspended by the Nigeria Customs Service.

The Customs Service said this step was taken in line with the directives of the Honourable Minister of Finance and Coordinating Minister of the Economy, Wale Edun, according to a statement by Chief Superintendent of Customs National Public Relations Officer for Comptroller General of Customs, Abdullahi Maiwada, on Friday.

The Minister has also 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.

Customs’ statement added: ”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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