Defence & Security

VIN Valuation: NCS Boss Gives Grace Period to Clear Vehicles

By Paul Michael, Defence Editor, Abuja

The Comptroller General of Nigeria Customs Service (NCS), Col. Hameed Ibrahim Ali (Rtd) has issued a one month grace period to enable stakeholders clear backlog of vehicles held at the ports following strike action.

This was disclosed in a press statement by NCS National Public Relations Officer, DC Timi Bomodi, on Monday. Adding that the approval of the grace period came as a result of the Customs/Stakeholders town hall meeting recently held in Lagos

He, however, stated that the VIN valuation policy is still active, noting that reviews and update are still being captured in the agency’s systems to reflect the genuine concerns of stakeholders.

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Bomodi said, “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.”

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