At Tin Can Island Port, Customs Update Duties, Levy Payable On Imported Vehicles

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Following the Central Bank of Nigeria (CBN) increase in official exchange rate for cargo importation into Nigeria, the Valuation Department of the Nigeria Customs Service at Tin Can Island Port has issued an update to assist importers in determining rates of duty payable on various brands of vehicles and their levies.

Last week, the official exchange rate was increased from N409 per $1 Dollar to N422.3 pee Dollar.

The update which was prepared by Valuation SIFAX Bonded Terminal, also took into consideration the ex-factory price and VIN Valuation of the vehicles and the NAC Levy.

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