The Nigeria Customs Service (NCS) has finally bowed to pressure from importers and clearing agents as it announced a temporary suspension of the implementation of the controversial Vehicle Identification Number (VIN) valuation policy recently introduced on imported vehicles.
Clearing agents had embarked on strike penultimate Monday to protest against the implementation of the VIN valuation with over 12,000 vehicles currently trapped at the Tincan Island and PTML port terminals.
In a circular with reference number NCS/T&T/ACG/008/S.100/VOL 111 dated 7th March, 2022, the NCS said it has approved a one month window to enable agents clear the backlog of vehicles held up in the ports as a result of the strike action.
The circular signed by Assistant Comptroller General (ACG) Tariff and Trade, HK Gunmi on behalf of the Deputy Comptroller General (DCG) T&T directed all Area Controllers to monitor the transition period and ensure manual assessments are in full compliance with extant laws.
The circular reads, “Sequel to the Customs/Stakeholders town hall meeting held in Lagos on the VIN-Valuation, the CGC having listened to public outcry, has graciously approved one month window to enable clearing the backlog of vehicles held up in the ports as a result of the strike action.”
“You are requested to note that the VIN Valuation protocol is still in operation as reviews and updates are being captured in our systems to reflect these adjustments.
“Area Controllers have been directed to monitor the transition period and ensure manual assessments are in full compliance with extant laws.
“Also note that the grace period is effective tomorrow 08 March 2022.
“Kindly bring the content of this information to all your members and other critical stakeholders.”
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