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Home » VIN Valuation: Auto Importers Should Inculcate Transparency in Declaration, says Comptroller Yusuf
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VIN Valuation: Auto Importers Should Inculcate Transparency in Declaration, says Comptroller Yusuf

Saint AugustineBy Saint AugustineAugust 31, 2023No Comments3 Mins Read
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…As PTML Customs holds sensitization meeting with stakeholders

Comptroller Saidu Abba Yusuf, Customs Area Controller of Ports Terminal Multiservices Limited has once again urged importers of vehicles and their agents to imbibe transparency while making declarations for their imported vehicles

Comptroller Yusuf who said this at a stakeholders sensitization meeting held on Wednesday on Vehicle Identification Number, VIN valuation dispelled the rumour that the VIN method has been canceled.

He reiterated an earlier position on the matter issued by the Nigeria Customs Service headquarters that the VIN Valuation Process remains fully operational and effective. He added that the trim numbers are critical in identifying distinct versions or tiers within a specific car model. They delineate varying configurations, features, and levels of equipment associated with different models.

The CAC said the trim of vehicles are not same for all kinds while urging declarants to have their transaction values. He blamed some declarants for not being transparent because they go inputting what they think is the lowest base value which necessitates interventions like demand notice and alerts.

He advised them to apply invoice and transaction values as a way of promoting transparency and building integrity in the trade process of vehicle clearance.

Comptroller Yusuf said Section 24 of Nigeria Customs Service Act, NCSA 2023 provides for advance ruling for stakeholders to submit to the NCS before  a transaction and the ruling will be binding on the service and the importer or agent. This according to the Controller is a unique trade facilitation method provided for by the new law.

The CAC who described the meeting as being in line with the law also said customs stakeholders partnership is a provision of Section 29 of NCSA 2023.

According to him, meetings like this are meant to rub minds, identify challenges and jointly work out solutions on how best to resolve the challenges. He added that the meeting is also in tandem with WCO and WTO trade facilitation thrusts which encourage consultations.

He reminded the stakeholders that the use of code 846 for clearing of non standard VIN has been further modified to reduce human contact through what he called e-846. This saves time and makes trade easier.

“I must commend the system because the reduction of human contact is very effective and beneficial to all as it saves time. I personally monitor electronically from my office and can confirm that my officers are implementing it diligently.

“Wherever you are experiencing delay in the process under my command, please draw my attention to it. My doors are open and will be more open to all of you. The help desk headed by the Command’s Public Relations Officer is active and responding to all inquiries online and in real time”,  Comptroller Yusuf said.

Send your press invite, news, press releases/articles to augustinenwadinamuo@yahoo.com. Also, follow us on Twitter @PrimetimeRepor1 and on Facebook on facebook.com/primetimereporters or call the editor on 07030661526.

 

Comptroller Saidu Abba Yusuf Nigeria Customs Service Act 2023 PTML Customs Command VIN Valuation World Customs Organization World Trade Organization
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Saint Augustine
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Saint Augustine is a seasoned freelance journalist and the chief editor of Primetime Reporters.

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