Why Customs VIN Valuation was dead on arrival — Farinto

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The National Vice President of the Association of Nigerian Licensed Customs Agents (ANLCA), Dr Kayode Farinto, has said that improper planning led to the rejection of the recently suspended Vehicle Identification Number (VIN) valuation of Customs at the ports.

Speaking with the Nigerian Tribune in Lagos, the Wealthy Honey Investment boss explained that disparity in Customs duty led to the call for a proper valuation for imported vehicles.

According to the ANLCA chieftain, “Before VIN valuation came onboard, what we had was each Customs Command issuing value for any vehicle that arrives at the ports. We call it ex-factory price. This ex-factory price actually emanates from…



Source: Nigerian Tribune