The federal government has suspended the 25 per cent penalty imposed on improperly imported vehicles.
National public relations officer of the Nigeria Customs Service (NCS), Abdullahi Maiwada, made this known in a statement on Friday.
He said the cancellation was approved by Wale Edun, minister of economy and coordinating minister of finance, to ease economic hardship and encourage compliance.
According to Maiwada, the service had also been directed to initiate a 90-day window, effective from March 4, 2024, to July 5, 2024, for the regularisation of import duties on specific categories of vehicles.
“The Nigeria Customs Service, 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,” he said.
“To ease economic hardship and encourage compliance, the Honourable Minister and Coordinating Minister of the Economy has approved the suspension of the 25 percent penalty previously imposed in addition to import duty on improperly imported vehicles.”
He told stakeholders, including vehicle owners, importers, and agents to seize the opportunity to regularise import duty payments within the designated 90-day timeframe.
