The management of the Nigeria Customs Service (NCS) has bowed to pressure by suspending the controversial Vehicle Identification Number (VIN) valuation policy that was recently introduced by the service for imported vehicles.
As reported by Shipping Position Online, the policy which led to an impasse between licensed customs agents and the service, which eventually led to the shutdown of port activities in the past two weeks, has now been suspended for 30 days.
According to the Secretary-General, Association of Nigerian Licensed Customs Agents (ANLCA), Mr. Mukaila Babatunde, who confirmed the development on Thursday, the suspension will enable importers whose vehicles have been trapped at the terminals to clear them.
“The VIN valuation policy,” he explained, “has 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, we are against the outrageous value. We have asked them to consider accident vehicles and mileage of vehicles imported as stated in the Customs Law.”
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