ADVERTISEMENT
The Moment Nigeria
  • Home
  • News
  • Business
  • Entertainment
  • Interviews
  • Life and Styles
  • Sport
No Result
View All Result
  • Home
  • News
  • Business
  • Entertainment
  • Interviews
  • Life and Styles
  • Sport
No Result
View All Result
The Moment Nigeria
No Result
View All Result
  • Home
  • News
  • Business
  • Entertainment
  • Interviews
  • Life and Styles
  • Sport

Fake news! We are yet to halt VIN Valuation System -NCS

by Usman Kadri
March 7, 2022
Reading Time: 1 min read
Fake news! We are yet to halt VIN Valuation System -NCS
Share on FacebookShare on TwitterShare on WhatsappShare on LinkedIn

Despite the ongoing protest at the nation’s seaports on the implementation of the controversial Vehicle Identification Number (VIN) valuation policy introduced by the government on imported vehicles, the management of the Nigeria Customs Service (NCS) said at the weekend that policy has not been suspended.

The policy has been causing a crisis between licensed clearing agents and the Service, which led to the shutdown of port activities in the past three weeks.

NSC spokesman, Mr. Timi Bomadi, during a TV appearance, said the manual system would be deployed as an alternative.

RELATED STORIES

With giants campaign, FirstBank is truly woven into the fabric of society 

FirstBank’s N1 trillion digital loan disbursement milestone and the new era of inclusive lending in Nigeria

August 29, 2025
NUJ condemns harassment, arrest of Journalist, Azuka Ogujiuba

NUJ condemns harassment, arrest of Journalist, Azuka Ogujiuba

August 29, 2025

He said: “The policy was not suspended. I read in the news that somebody said it was. But it has not been suspended. What the management intends to do is that we are looking at options.

“We have listened to the complaints of the stakeholders; we are assessing our system to see if there are things that can be amended to accommodate some of the complaints of these stakeholders.

“But what we would be doing in the next 30 days is to run the automated system side by side the manual system to aid decongestion of the ports.

“First of all, we were not the one that called for the strike. The agents called for the strike and it is in contravention of dispute resolution principle.”

Speaking from London, Vice-President of the Association of Nigerian Licensed Customs Agents (ANLCA), Dr. Kayode Farinto, said the suspension of VIN valuation would enable importers whose vehicles had been trapped to clear them.

“We are not against VIN valuation policy. But we are against the outrageous value. We have asked them to consider accidented vehicles and mileage of vehicles imported, as stated in the Customs law. Therefore, we are still waiting to see what they will come out with.”

Next Post
Amid crisis: Caverton records N5.9bn loss in aviation business

Amid crisis: Caverton records N5.9bn loss in aviation business

More Articles...

I left PDP for APC without prayers, I’ve now fasted 31 days –Ex-Adamawa Senator, Elisha Abbo

August 30, 2025
NYG 2025: Lagos football team beat Yobe, Bayelsa state respectively

NYG 2025: Lagos football team beat Yobe, Bayelsa state respectively

August 30, 2025
Sports Commission set to name next host of the NYG

Sports Commission set to name next host of the NYG

August 30, 2025
GTCO increases GTBank’s Paid-Up Capital to ₦504 billion

GTCO increases GTBank’s Paid-Up Capital to ₦504 billion

August 29, 2025
With giants campaign, FirstBank is truly woven into the fabric of society 

FirstBank’s N1 trillion digital loan disbursement milestone and the new era of inclusive lending in Nigeria

August 29, 2025
Chelle picks Ekong, Osimhen, 21 others in final 23

Chelle picks Ekong, Osimhen, 21 others in final 23

August 29, 2025

STANBIC IBTC ADVERT

About Us

Themomentng.com is an online community of reporters and social advocates dedicated to bringing you features, news reports by Africans, but from a global perspective.

Contact Us

+447771081433
+2348051966180(WhatsApp/SMS Only)
Email: themomentng@gmail.com

Categories

  • Business
  • Education
  • Entertainment
  • Events
  • Featured
  • Food
  • Foreign
  • Health
  • Interviews
  • Life and Styles
  • Metro
  • Motoring
  • News
  • Opinion
  • Politics
  • Religion
  • Society
  • Sport
  • Technology
  • Top Story

Follow Us

Facebook Twitter Instagram

Copyright © Themomentng.com. All Rights Reserved.

No Result
View All Result
  • Home
  • News
  • Business
  • Entertainment
  • Interviews
  • Life and Styles
  • Sport