VIN Valuation On Tokunbo Vehicles Still Operational, Nigeria Customs Clarifies

VIN Valuation On Tokunbo Vehicles Still Operational, Nigeria Customs Clarifies

VIN Valuation on Tokunbo (used) vehicles is still operational, Nigeria Customs PTML clarifies.

Nigeria Customs Scraps VIN Valuation On Tokunbo Vehicles, Revert Back To Manual Method - autojosh

The Nigeria Customs Service, PTML Area Command, on Thursday, 30 August 2023, held a sensitization workshop with stakeholders on the VIN valuation process for revenue collection on imported used vehicles into Nigeria.

Speaking at the stakeholders’ sensitization meeting held at the Command Headquarters in Lagos, the Customs Area Controller, Comptroller Saidu Yusuf, stated that the VIN Valuation process is still fully operational, adding that it is in line with the trade facilitation agreement, which Nigeria is a signatory to.

He said :

“We are here responding to the circular we received and the rumours that VIN-Valuation has been scrapped. I want to assure you that there’s nothing like that; the circular that came out was just like a reminder to examination and valuation officers on ways they should perform their duties they should continue to perform their duties effectively. It’s still fully operational, and we are up to it, and we are ensuring that the system works perfectly”.

“VIN-Valuation, as we all know, was introduced over a year ago to harmonize, simplify and standardize values of vehicles, and the bottom line of all that we should all know is in line with the trade facilitation agreement which Nigeria is a signatory to, but on top of the standardization, simplification and harmonization of value, is transparency”, he added.

Comptroller Saidu noted transparency had been a challenge as many declarants do not adhere to it.

“Over time, the issue of transparency, we are having challenges because the system demands that when a declarant inputs his VIN Number, certain details on how the vehicle will come out. Right at the bottom of that first page, there is a column for transaction value. Unfortunately, many of the declarants are not adhering to that”, he stated.

“They now go for the base value of some of these vehicles, and once you do that, you’re calling for intervention because we know, as valuation Officers, as examination Officers, we have seen practically what your vehicle looks like”, he emphasized.

He urged the stakeholders to inculcate the habit of transparency to ensure a smooth running of the process to facilitate trade.

“We must inculcate the habit of being transparent to allow this system to work. The vehicle owners should submit to you the accurate invoice values of these vehicles to enhance your work as agents, as brokers, so that you won’t face delay”, he said.

“We need to start being transparent to facilitate trade in this environment. We will continue to facilitate compliant traders so that the faster you move out your cargo, the better for us, the better for you”, he added.

Speaking to newsmen after sensitization, the CAC noted that the VIN system is working well and has been upgraded with an electronic 846 (e846) code to enhance efficiency and reduce human contact in the vehicle clearing process.

“The VIN Valuation, since it was introduced, has been able to streamline the issue of clearance of vehicles from the Port. It has worked very effectively and has helped a great deal in reducing human contact because, in the comfort of your Office, you input your declaration. When you do that, it goes through the system; you do not need to be physically present in any Customs formation to process your document”.

“You are quite aware that the E846 has just been introduced, which is one of the effective systems in cutting down human contact”.

“With the E846 system, the agent passes his declaration application online. From there, it moves to the CAC office, who gives approval online and we push it to Valuation. Valuation gives value online. After the value is given, it is passed on to the declarant online”, he further said.

“All these procedures were put in place to enhance international best practice”.

Read More

Leave a Reply

Your email address will not be published. Required fields are marked *