The Nigeria Customs Service (NCS) has announced the cancellation of numerous import declarations, mandating importers to recapture their declarations due to discrepancies related to the Free on Board (FOB) charge.
This action stems from identified inconsistencies in declared FOB charges, prompting concerns about revenue loss. The NCS has required importers to resubmit their declarations with accurate and compliant information, aiming to bring all import declarations into compliance.
This move has caused disruption and concern among importers and clearing agents, leading to delays and increased costs.
Importers are now calling for clarity and a smooth transition to the revised FOB charge requirements. The NCS’s action underscores the importance of accurate import declarations for revenue collection and trade facilitation.
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