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News
Home›News›VIN VALUATION: Customs Considers 4 Weeks Grace Period

VIN VALUATION: Customs Considers 4 Weeks Grace Period

By Editor
Mar 7, 2022
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 TO CLEAR BACKLOG OF VEHICLES

Even as the uncertainty trail the introduction of the Vehicle Identification Number, VIN, managenemt of the Nigeria Customs Service has given clearing agents a one month grace period to clear cars trapped in the ports pending full deployment of the VIN tool.

In a statement signed by the National Public Relations Officer of the Service, Deputy Comptroller of Customs. DC Timi Bomodi, the Customs National PRO, the NCS said the waiver was in consideration of public outcry against the VIN policy.

According to Customs “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”.

Customs insists that 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”. the statement stated.

What happens when the grace period expires is what stakeholders seems anxious about, going forward.

 

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