By Emma Ujah, Abuja Bureau Chief
The Nigeria Customs Service (NCS) has acknowledged receipt of the directive from the Federal Ministry of Finance suspending the implementation of the 4% Free-on-Board (FOB) levy on imported items.
In a press release issued by its spokesman, Abdullahi Maiwada (AC), on behalf of the Comptroller-Normal, Adewale Adeniyi, the Service stated it had commenced consultations with the Ministry to discover different measures.
“The Service appreciates the Ministry’s engagement on this matter and stays dedicated to supporting authorities fiscal insurance policies. Pursuant to this directive, the Service has begun instant session with the supervisory Ministry to hunt steering on different measures throughout this suspension, to make sure continuity of service supply to all stakeholders,” the assertion learn partly.
It added that discussions with the Ministry and different related stakeholders had been ongoing to handle considerations raised whereas guaranteeing that the Service’s statutory obligations had been met successfully.
The NCS additional clarified reviews suggesting that the levy was a current introduction. “For readability, the Service needs to stress that the Nationwide Meeting established the 4% FOB provision via Part 18(1)(a) of the Nigeria Customs Service Act, 2023, which stipulates ‘not lower than 4% of the free-on-board worth of imports in line with worldwide greatest practices’ as a statutory funding mechanism for the Service’s operations,” the assertion stated.
Whereas assuring the buying and selling public, licensed customs brokers, and worldwide companions of seamless operations, the Service reiterated its dedication to environment friendly service supply, worldwide greatest practices, income era, and enhanced commerce facilitation in help of Nigeria’s financial progress.
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