The Comptroller General of Customs (CGC), Col. Hameed Ali (Rtd) has said 70% of registered cars in Nigeria are not documented for duty payment.
As a result of this, the Federal Government has introduced a new electronic Vehicle Identification Number (VIN).
The new policy will track all vehicles driven on Nigerian roads.
In other words, vehicles without VIN cannot be registered in the country and therefore cannot be driven too.
The system will operate just like the Bank Verification Number works.
Without it, you cannot open or operate a bank account in Nigeria.
That is exactly what the VIN will introduce.
It also means that vehicles already in the country will have to be registered too.
The minister of finance, Kemi Adeosun made the revelations today at the commencement of a workshop on the new registration platform.
“We are introducing a new system where all vehicles will be registered using the Vehicle Identification Number (VIN).
“The new registration system will be effective 31st March 2017.
“Customs clearance will be linked to the VIN.
“This, in turn, will be required by each state government at the point of vehicle registration.
“We are using technology to make smuggling an unprofitable venture.
“The objective is to ensure transparency and accountability in the collection of import duties,” the minister stated.
Adeosun stated that the new system will increase revenue generation and plug leakages.
She added that there would also be a reduction in import under-declaration and evasion of duty payments.
She explained the public would be advised to ensure that they obtained proof of customs duty payment before purchasing a vehicle.
The minister noted that Nigeria loses billions of Naira annually due to the activities of smugglers.
She described the VIN system as a “Powerful tool against this illicit and dangerous practice.”