To ameliorate the bitting effect of the economy on Nigerians, the Federal Government has said the 25 percent on improperly imported vehicles has been suspended .
The Federal Government made the disclosure through the Nigeria Customs Service on Friday.
The statement signed by Abdullahi Maiwada, Chief Superintendent of Customs, noted that the directive was given by the Minister of Finance and Coordinating Minister of the Economy, Wale Edun.
The NCS noted that a 90-day window beginning from March 4 to July 5, 2024, has been opened for the regularisation of the wrongly imported vehicles.
The statement said, “To ease economic hardship and encourage compliance, the Honourable Minister of Finance and Coordinating Minister of the Economy have approved the suspension of the 25 percent penalty previously imposed in addition to import duty on improperly imported vehicles.”
NCS added: “Stakeholders, including vehicle owners, importers and agents are encouraged to seize this opportunity to regularise import duty payments within the designated 90-day timeframe.”
