FG suspends 25% penalty on users of smuggled vehicles

The Federal Government has approved the suspension of the 25 percent penalty previously imposed as a surcharge on improperly imported vehicles.

This was disclosed in a press statement issued on Friday, by the Spokesperson of the Nigeria Customs Service (NCS), Abdullahi Maiwada,

The NCS urged stakeholders, including vehicle owners, importers, and agents to seize the opportunity to regularise their vehicles’ import duty payments within 90 days

The statement read: “NCS, under the directives of the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has initiated a 90-day window, effective from March 4, 2024, to July 5, 2024, for the regularisation of import duties on specific categories of vehicles.

“To ease economic hardship and encourage compliance, the Minister approved the suspension of the 25% penalty previously imposed in addition to import duty on improperly imported vehicles.

“Stakeholders, including vehicle owners, importers, and agents, are encouraged to seize this opportunity to regularise import duty payments within the designated 90-day timeframe.”

Paul

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