The Nigeria Customs Service in collaboration with the World Bank under the Accelerating Revenue Mobilization Reforms Program (ARMOR), has initiated the modalities for migration from Fast Track Regime to Fast Track 2.0 (FT 2.0).
This system, according to a statement by the National Public Relations Officer, Nigeria Customs Service, Abdullahi Maiwada, aimed to reward compliance and facilitate trade by admitting traders based on their adherence to regulations and contribution to trade in Nigeria.
The statement observed that by introducing Fast Track 2.0, the Nigeria Customs Service aimed to streamline trade processes, promote compliance, and create a more efficient and rewarding environment for traders.
According to the statement, when fully operational, FT 2.0 was expected to encourage traders to comply with Customs regulations and rules adding that one of the main advantages was the potential for significant cost reductions associated with cargo handling and demurrage at the ports.
It further stated that traders who were interested in taking advantage of this facility could access more information and apply through the website www.fasttrack.nigeriatradehub.gov.ng.
“Existing traders who are currently using the old Fast Track system are advised to apply to the new Fast Track 2.0 (FT 2.0)”, the statement said.
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