FG Gives Private Jet Owners New Deadline To Settle Duty Fees or Face Seizure

• The Nigerian government has issued a new deadline for private jet owners to pay outstanding import duty fees
• Nigeria Customs Service warns that jet owners who fail to comply face having their aeroplanes seized
• Customs says many jets entered under temporary agreements and evaded payments, prompting enforcement

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The federal government has granted private jet owners who defaulted on import duty payments a one-month grace period to regularise their documentation or risk losing their aircraft.

This was communicated by the Nigeria Customs Service (NCS) National Public Relations Officer, Assistant Comptroller of Customs, Abdullahi Maiwada.

Legit.ng reported that the NCS began a clampdown on non-compliant private jet operators in November last year and confirmed the seizure of several aircraft as part of an ongoing enforcement and verification exercise at airports in Abuja and Lagos.

The Nation reports that the seizures followed a series of engagements with jet owners.

FG gives private jet owners a deadline

Following several consultations, Maiwada revealed that a consensus was reached to give the owners one month to regularise their payments.”

He said the grace window was granted to allow defaulters to meet their financial obligations.

However, some aircraft owners reportedly failed to take advantage of the deadline before it expired.

Among the jets affected in the recent clampdown at private hangars were high-end models such as the Bombardier Global 6,000, 65,000, and 75,000 series.

The Customs Service said the verification and enforcement exercises are aimed at strengthening national security and increasing revenue.

In August 2021, the agency discovered that 30 out of 65 verified jets had evaded duty payments.

Many of them entered the country under a Temporary Importation Agreement, which allows aircraft to be brought in duty-free under bond agreements, a practice the NCS says is often abused.

Maiwada added.

"These aircraft are held until their owners comply with payment requirements. We are hopeful and we know that they will comply.”

Experts speak on the situation

Aviation experts have called for a more professional and transparent approach to handling the situation, Punch reported.

Frank Oruye, a former deputy director of engineering at Nigerian Airways, stressed the importance of adhering to global best practices and ensuring that both private jet owners and the NCS follow established procedures.

Oruye said,

"Investors and importers should be ready to foot all local taxes and customs duties, and Customs should be professional in their dealings to ensure a conducive aviation environment."

CBN announces new rate to clear goods as naira crashes again

Earlier, Legit.ng reported that Nigerian importers will pay more to clear their goods after the CBN adjusted the customs duty rate again.

The latest decision follows the depreciation of the naira in the Nigerian Autonomous Foreign Exchange Market (NAFEX).

According to data from Nigeria's trade portal, on Friday, April 11, the CBN raised the exchange rate for clearing goods to N1,591.35 per dollar.

Source: Legit.ng