FOB: Nigeria Customs Cancels Imports Declaration
The Nigeria Customs Service (NCS) has annulled import declarations following the suspension of the four percent Free-on-Board (FOB) charge on imports. NCS spokesperson Abdullahi Maiwada announced the decision in a statement on Monday in Abuja.
Maiwada explained that all import declarations made during the initial implementation period of the directive had been cancelled. NCS had suspended the four per cent charge on February 11.
The charge is calculated based on the value of imported goods, including transportation expenses up to the port of loading. The announcement had been met with criticism from experts and stakeholders who argued that the move could worsen the economic situation, including inflation.
In the statement, Maiwada clarified that the annulment of declarations was necessary to ensure clarity, maintain consistency in customs operations, and prevent disruptions in the clearance process.
“Affected importers, customs agents, and stakeholders are required to recapture their declarations to proceed with the clearance of their goods,” he stated. He urged stakeholders to promptly recapture their entries via designated customs platforms and assured them that measures had been put in place for a smooth process.
Maiwada said that Customs Commands nationwide had been directed to provide the necessary assistance and clarifications to importers and agents. He reaffirmed the NCS’s commitment to enforcing government fiscal policies under the Nigeria Customs Service Act 2023 and emphasised the importance of continuous consultation with stakeholders.
Explaining the decision, Maiwada highlighted that it was part of the NCS’s broader effort to enhance service delivery and remain a public-centric organisation.
“Under the leadership of Comptroller General Adewale Adeniyi, the service is committed to openness and transparency,” he added. He encouraged traders to take advantage of the opportunity to avoid further delays in the clearance of their consignments. #FOB: Nigeria Customs Cancels Imports Declaration Afrinvest Advises Investors to Reduce Airtel, MTNN Stocks
