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VIN valuation has been suspended for the next 30 days. Licensed agents say they are waiting to see what the Customs come up with.

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 ran into an impasse between licenced Customs Agents and the service had led to the shutdown of port activities for the past two weeks.

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

Founder, NAGAFF, Dr Boniface Aniebonam 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 accident vehicles and mileage of vehicles imported as stated in the Customs Law. So, let’s see what they will come out within the next 30 days,” Babatunde said.

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