FG Cancels 25% Penalty On Improperly Imported Vehicles
By Abimbola Abdullah
The Federal Government has approved the suspension of the 25 per cent penalty previously imposed in addition to import duty on improperly imported vehicles.
The Nigeria Customs Service (NCS), under the directives of the Minister of Finance and Coordinating Minister of the Economy, 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.
Chief Superintendent of Customs and National Public Relations Officer, Abdullah Maiwada, said the move was to further ease economic hardship and encourage compliance by importers.
“Stakeholders, including vehicle owners, importers, and agents, are encouraged to seize this opportunity to regularise import duty payments within the designated 90-day timeframe,” he said.
