The Nigeria Customs Service (NCS), has cancelled the 25% penalty on Improperly Imported vehicles to ease economic hardship.
The Customs spokesman, Abdullahi Maiwada, made this known on Friday while he stated that the cancellation followed directives of the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun.
The Customs had earlier on March 3, announced a 90-day window, effective from 4th March 2024 to 5th July 2024, for the regularisation of import duties on specific categories of vehicles.
Mr. Abdullahi explained that the cancellation of the penalty was part of the government’s action to ease economic hardship and encourage importers to go forward and clear their 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,” he said.