Nigeria Customs Clarifies Misleading Report On Vehicle Identification Number Valuation Process

Aug 28, 2023 - 15:14
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Nigeria Customs Clarifies Misleading Report On Vehicle Identification Number Valuation Process
By Adetokunbo FAKEYE 
The Nigeria Customs Service (NCS) on Monday, August 28th, 2023 said a recent media report that has caused confusion regarding the Vehicle Identification Number (VIN) Valuation process is misleading, aiming to distort the truth and misinform the public. 
According to the Service spokesman, CSC Abdullahi Aliyu Maiwada, "While it is true that a circular about "examination and release of used vehicles" has been highlighted by the author, it is regrettable that the accurate context has been overlooked. 
He words, "The VIN Valuation Process remains fully operational and effective. The mentioned circular specifically pertains to imported used vehicles equipped with trim numbers. These 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 the model. Furthermore, different trim levels offer diverse technological advancements, interior and exterior features, and, occasionally, distinct engine options.  
"For instance, a car model could feature trim levels such as "Base", "Sport", "Luxury", and "Premium. Each of these trim levels might present differing combinations of attributes, such as premium leather seats, advanced infotainment systems, upgraded wheels, and enhanced safety features, among other enhancements. This results in an elevated value for the vehicle compared to the base model.  
"To ensure fairness and accuracy, the NCS mandates that imported used vehicles with trim numbers undergo valuation at the Valuation Seat after a thorough examination. This process aims to establish the vehicle's appropriate and precise Customs value. 
"The NCS urges the general public to dismiss the misleading report and encourages individuals to engage with the various Customs Formations across the nation for any additional clarification or information they may require".

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