Customs slams N2bn DN on Stallion

The Nigeria Customs Service (NCS) is said to be unhappy with Stallion Group Limited for alleged trade malpractices.

The company was alleged to have imported several containers of goods which it declared as Completely Knocked Down (CKD) parts through the Tin Can Island Port. But Customs officers, during examination, discovered tyres, among several other items in the containers. These items do not qualify for zero duty as claimed by the company. This prompted the Customs officers to issue Debit Notes (DN) totaling about N2bn to the Stallion Group.

Controller, Tin Can Island Command of the Nigeria Customs Service, Jibrin Zakari, said the consignments would not be released to the company until it pays the necessary penalty involved.

He said that he personally went down to the terminal to see the consignments, warning that the items would be seized if the company fails to pay the DN issued on the goods.

“I saw the items and took pictures of what I saw and reported to the headquarters”, he said.

Zakari lamented that his Command has been losing about N4 billion monthly due to the auto policy which has given concession to the manufacturers on certain raw materials.

For instance, the Command recorded N23.4 billion, N21 billion and N24 billion in the months of July, August and September respectively, but before the policy, the Command recorded N26bn each in the months of April, May and June.

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