Customs generated over N500 million from e-auction of seized automobiles between Jan.16 and Feb.13

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The Nigeria Customs Service (NCS) introduced that it efficiently raised over N500 million from the sale of seized and overdue automobiles via its e-auction portal, spanning from January 16 to February 13, 2024.

This achievement was highlighted in a video shared on the Nigerian Customs Service’s official X account on Sunday, detailing the triumph of the e-auction occasions throughout 5 home windows, from Tuesday, January 16, to Tuesday, February 13, 2024.

The NCS reported that the e-auction attracted appreciable curiosity, with 13,605 people registering to take part.

Moreover, the replace disclosed that all through the 5 public sale home windows, 476 automobiles had been listed on the portal, out of which 462 had been efficiently auctioned to bidders.

“The full worth of received automobiles is N556,738,736,” the submit additional highlighted.

What you must know

The Nigeria Customs Service (NCS) unveiled the upgradeded NCS e-auction portal on Monday, January 15, 2024, kicking off its inaugural e-auction occasion the next day, January 16, 2024.
people can entry the portal at https://public sale.nigeriatradehub.gov.ng.
Earlier, Nairametrics reported that the Customs declared the e-auction portal could be open for bids each Tuesday, from 12 midday till 6 pm.
To take part, bidders are required to have a Tax Identification Quantity (TIN) from the Federal Inland Income Service (FIRS), verified via Tax Professional-Max, and an lively e mail account for registration on the platform.
Upon profitable registration, a non-refundable charge of N1,000 is charged via the platform.
Moreover, every bid incurs a participation charge of N1,000. Individuals are allowed to bid on as much as two objects per public sale window, with no restrict on the variety of bids positioned.
Gadgets obtainable for public sale are offered of their present situation, and the NCS won’t contemplate requests for replacements or refunds.
Successful bidders should full fee inside three days and organize for the gathering of things from the required terminal.
Time beyond regulation items bought via the e-auction are topic to an extra charge on the successful bid, with 25% allotted to the transport firm and 25% to terminal operations.
You will need to be aware that Nigerian Customs officers and homeowners of the seized objects are prohibited from collaborating within the public sale.
Winners are additionally obligated to pay a 7.5% Worth Added Tax (VAT) and a refundable container deposit, the place relevant.