Business
Breaking: customs gets approval, cancels 25% penalty on improper vehicle importations
By Ezurike Ugochukwu
The Nigeria Customs Service (NCS) with the approval of the approval of the federall minister of finance has initiated a 90-day window starting from 4th March to 5th Juky2025 for regularization of import duties on specific categories of vehicles.
In a release signed by Chief Superintendent of Customs (CSC) Abdullahi Maiwada, National Public Relations Officer, made available to Nation Update, clarifying that the directive was from Wale Edun, Honourable Minister of Finance and Coordinating Minister of the Economy,
The minister also approved the suspension of the 25% penalty previously imposed in addition to import duty on improperly imported vehicles to ease economic hardship and encourage compliance.
NCS is therefore calling on stakeholders, vehicle owners, importers, and agents to seize the opportunity to regularise import duty payments within the designated 90-day timeframe
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