In a bid to ease economic hardship and encourage compliance in the regularisation of import duties on specific categories of vehicles, the Federal Government has approved the suspension of the 25 percent penalty previously imposed on improperly imported vehicles.
The Nigeria Customs Service (NCS), announced the suspension of the penalty in a statement issued by the National Public Relations Officer, Chief Superintendent Abdullahi Maiwada, on behalf of the Comptroller General on Saturday, March 23, 2024.
Maiwada said, the penalty was lifted following a directive by the Minister of Finance and Coordinating Minister of the Economy, Wale Edun.
He said, the Minister, following the suspension, 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, therefore, encouraged stakeholders, including vehicle owners, importers, and agents, to seize the opportunity to regularise import duty payments within the designated 90-day timeframe.
