Breaking: Customs Suspends Implementation Of VIN Valuation Policy

Customs Assistant Comptroller General, Zone A, Modupe Aremu after meeting with Clearing Agents Over VIN Valuation Policy, In Lagos, On Tuesday.


The management of the Nigeria Customs Service (NCS) has suspended the Vehicle Identification Number (VIN), valuation policy recently introduced by the service on imported vehicles for 30 days.

The policy which handed to annimpasse between licenced Customs Agents and the service had led to the shutdown of port activities for the past two weeks.

Confirming the development to BUSINESSinsiderng, the secretary general, Association of Nigerian Licensed Customs Agents (ANLCA), Mukaila Babatunde, informed that the suspension will enable importers whose vehicle has been trapped to clear their vehicle.

Founder, NAGAFF, Dr Boniface Aniebonam 

He said, “the VIN valuation policy had been suspended by Customs for the next 30 days. This is better, so,  that vehicles can leave the various terminals and we will see what they will come out with.

“We are not against VIN valuation policy, but, against the outrageous value. We have asked them to consider accidented vehicles and mileage of vehicles imported as stated in the Customs Law.

So, let’s see what they will come out with in the next 30 days,” Babatunde said.

… Details Later

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