(VIN) Valuation Process
ZAINAB JUNAID
The Nigeria Customs Service (NCS) has on Monday August 28, 2023, condemned and regarded as misleading a report on the Vehicle Identification Number (VIN) Valuation process which was on the social media recently.
The Service spokesman, CSC Abdullahi Aliyu Maiwada, in a statement made available to Journslists confirmed that a circular about the examination and release of used vehicles has highlighted by the author actually exist, but maintained that the accurate context of the circular was overlooked by the author.
To him, "The VIN Valuation Process remains fully operational and effective. The mentioned circular specifically pertains to imported used vehicles equipped with trim numbers. These trim numbers are critical in identifying distinct versions or tiers within a specific car model. They delineate varying configurations, features, and levels of equipment associated with the model. Furthermore, different trim levels offer diverse technological advancements, interior and exterior features, and, occasionally, distinct engine options.
"For instance, a car model could feature trim levels such as "Base", "Sport", "Luxury", and "Premium. Each of these trim levels might present differing combinations of attributes, such as premium leather seats, advanced infotainment systems, upgraded wheels, and enhanced safety features, among other enhancements. This results in an elevated value for the vehicle compared to the base model.
"To ensure fairness and accuracy, the NCS mandates that imported used vehicles with trim numbers undergo valuation at the Valuation Seat after a thorough examination. This process aims to establish the vehicle's appropriate and precise Customs value.
"The NCS urges the general public to dismiss the misleading report and encourages individuals to engage with the various Customs Formations across the nation for any additional clarification or information they may require," he maintained.
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