Customs to Auction Overtime Vehicles After Two-Week Deadline

The Nigeria Customs Service (NCS) has announced plans to auction vehicles classified as “overtime cargo” following the expiration of a two-week ultimatum issued to owners for clearance. The move is aimed at decongesting ports and generating revenue for the government.

What Are Overtime Vehicles?

Overtime vehicles refer to cars and other imported automobiles that have exceeded the statutory clearance period at ports or bonded terminals. According to customs regulations, importers have a maximum of 90 days to clear their goods, after which they are considered abandoned and eligible for auction.

The Public Relations Officer of the NCS, Abdullahi Maiwada, explained, “These vehicles have overstayed their legal clearance window. We encourage owners to retrieve their goods within the grace period to avoid forfeiture.”

Auction Process

The NCS plans to conduct the auction through an online platform, ensuring transparency and accessibility for interested bidders. Key details of the process include:

• Eligibility: Open to the public, with a requirement for bidders to register on the e-auction portal.
• Payment: Successful bidders must pay the full amount within a specified period.
• Inspection: Prospective buyers can inspect the vehicles before bidding.

Maiwada assured Nigerians that the auction process would be free from irregularities, emphasizing the service’s commitment to fairness.

Reasons Behind the Auction

1. Decongestion of Ports: Accumulated overtime vehicles occupy valuable space, hindering the smooth flow of goods and operations at ports.
2. Revenue Generation: The auction will contribute to non-oil revenue streams, vital for addressing budget deficits.
3. Compliance Enforcement: The ultimatum aims to ensure that importers adhere to customs regulations and timely clearance procedures.

Implications for Stakeholders

The auction is expected to attract significant interest from car dealers and individuals seeking affordable vehicles. However, it also raises concerns among importers who may face financial losses if unable to clear their goods within the deadline.

Customs authorities have urged importers to avoid delays in processing documentation and payment of duties to prevent future occurrences.

Industry Reactions

Stakeholders in the logistics and automotive sectors have welcomed the initiative as a practical solution to port congestion. However, some have called for extended clearance periods to accommodate challenges such as delayed shipping schedules and foreign exchange constraints.

Conclusion

With the two-week ultimatum nearing its end, the Nigeria Customs Service is set to auction overtime vehicles, offering a chance for the public to acquire vehicles at competitive prices while addressing port congestion. Importers are urged to act swiftly to reclaim their goods and avoid forfeiture, as customs intensifies efforts to streamline operations and boost revenue collection.