BY NKECHI NAECHE-ESEZOBOR–The Nigeria Customs Service has announced a 31-day suspension of the controversial electronic valuation system for imported vehicles, also known as Vehicle Identification Number valuation.
This is sequel to recent Customs/Stakeholders town hall meeting held in Lagos on VIN-Valuation, the Comptroller General Customs having listened to public outcry, has graciously approved one (1) month window to enable clearing the backlog of vehicles held up in the ports as a result of strike action.
Meanwhile, uniform application of rebates will be used for all vehicles using correct values for assessment during the exercise.
For the avoidance of doubt, the VIN-Valuation protocol is still in operation as reviews and updates are being captured in our systems to reflect the genuine concerns of stakeholders.
As a responsive and responsible agency, Nigeria Customs Service will sustain it’s consultations with stakeholders in line with Article 2 of WTO Trade Facilitation Agreement for a smoother Customs Stakeholders relationship.
