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FG creates vehicle database to checkmate duty evasion, theft

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By Godwin Oritse

THE Federal Ministry of Finance in collaboration with the Nigeria Customs Service, NCS, has commenced moves to create a database for imported vehicles with a view to checkmating import duty evasion and theft.

Speaking at the just concluded training programme hosted by the Nigeria Custom Service, NCS, Nnamdi Nwajiuba, Business Analyst, Fourcore Technology Solutions Limited, consultant to the Federal Ministry of Finance on Vehicle Registry, VREG, said that the policy will provide lasting solutions to the menaces of Customs duty evasion, vehicle theft and vehicle-related crimes, as well as ineffective vehicle insurance coverage, among others, owing to the absence of a centralized nationwide vehicle information system.

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Nwajiuba explained that all vehicle owners in the country are simply required to register their vehicle using their vehicle identification number on the VREG portal. 

He said that the platform was connected to multiple global database and vehicle history repositories for the robust collation and storage of data for all vehicles entering the country.

He said: “By virtue of VREG’s connection to multiple stakeholders such as Nigeria Customs Services, NCS, National Insurance Commission, NAICOM, Vehicle Inspection Office VIO, Central Bank of Nigeria, CBN, and Federal Road Safety Commission, FRSC, VREG is able to provide duty payment validation, vehicle ownership documentation, vehicle insurance validation, asset assessment for the moveable asset registry, and vehicle history reporting.

The post FG creates vehicle database to checkmate duty evasion, theft appeared first on Vanguard News.

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