Suspend VIN valuation policy —Ondo Motor Dealers tell FG, Customs
By: Oluwatosin Adesola
The Association of Motor Dealers of Nigeria (AMDON) has called for the suspension of the newly introduced Vehicle Identity Number (VIN) Valuation System, placed on all clearing vehicles into Nigeria.
The Nigeria Customs Service (NCS) had recently urged Nigerians to embrace the Vehicle Identity Number (VIN) Valuation to ensure transparency.
The NCS Public Relations Officer, Deputy Comptroller, Timi Bomodi, had recently said that VIN-Valuation was an innovation designed to harmonise and make the system transparent, urging agents and importers to embrace it.
According to him, the system uses Artificial Intelligence (AI) to pull together trade data representing a range of values consistent for each car make and model using the VIN.
However during a peaceful protest in Akure, members and leadership of the Association expressed reservation over the policy.
In a Protest letter submitted to the Customs Controller, Ondo/Ekiti Command and signed by the Chairman the Ondo State Chapter of AMDON, Jenyo Ogunlade and the State Secretary, Olamide Balogun, the Association said the policy would bring untold hardship to citizenry and interested stakeholders in the vehicles importation business, hence the need to redesign it.
“We call on the Federal Government to make reference to Customs and Excise Act 20 of 2003 which talks about purchase value,” the letter which was obtained by SUNSHINETRUTH reads.
The Association said it doesn’t against the introduction of the VIN Valuation System but it should be designed in line with Customs and Excise Act.