Customs suspends 25% penalty on improperly imported vehicles

The 25% penalty previously imposed in addition to import duty on improperly imported vehicles has been suspended by the Nigeria Customs Service. 

The Customs Service said this is in line with the directives of the Honourable Minister of Finance and Coordinating Minister of the Economy, Wale Edun, who 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.

A statement released by Chief Superintendent of Customs National Public Relations Officer for Comptroller General of Customs, Abdullahi Maiwada, on Friday, March 22, added that ”stakeholders, including vehicle owners, importers, and agents, are encouraged to seize this opportunity to regularise import duty payments within the designated 90-day timeframe.”