Nigeria Customs Suspends 25% Penalty on Smuggled Vehicle Users

In response to directives from the Minister of Finance and the Coordinating Minister of the Economy, Wale Edun, the Nigeria Customs Service (NCS) has announced the suspension of the 25 percent penalty imposed on improperly imported vehicles.

In a press statement released by Abdullahi Maiwada, the national public relations officer of the service, stakeholders, including vehicle owners, importers, and agents, are urged to take advantage of the opportunity to regularize their vehicle’s import duty payments within a 90-day window.

The statement outlines: “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 4th March 2024 to 5th July 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 percent 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 regularize import duty payments within the designated 90-day timeframe.”