Freight forwarders have said they may ground commercial activities at the seaports over plans by the Nigerian Customs Service (NCS) to implement the Vehicle Identification Number (VIN) valuation policy on all imported vehicles.

The Federal Government, through the Ministry of Finance, had last month, flagged off the introduction of VIN into the customs valuation system through Vehicle Registration (VREG).

The agents had said the VREG had not only slowed down their operations, but that they had also incurred huge demurrage following the frequent collapse of the VREG portal.

The VIN is an electronic system that allocates appropriate values and duty payable on imported fairly used vehicles.

Rising from a joint emergency meeting, the agents issued a 72-hour strike notice to customs to halt the implementation of VIN.

The spokesman of the Association of Nigerian Licensed Clearing Agents (ANLCA), Tin-Can Island Unit, Comrade Onome Monije, said, “The leadership of our association is meeting in Abuja with the customs. We await the outcome of the meeting to know the way forward.”

PTML Chapter Chairman of the National Council of Managing Directors of Licensed Customs Agents (NCMDLCA), Mr Abayomi Duyile, said there were flaws in the new customs valuation system, as there was no consideration for rebate and depreciation value in the valuation being issued on imported cars.

But in his comments, Festus Okun, Customs Area Controller (CAC) of Port Terminal Multiservices Limited (PTML) Command in Lagos, described the VIN valuation model as one that would increase transparency, raise revenue collection and engender predictability.

(Daily Trust)