All the information you require regarding the Customs E-auction Website

arewafacJanuary 29, 2024

All the information you require regarding the Customs E-auction Website

Customs E-auction Website: Helpful information about using the Nigeria Customs Service’s (NCS) freshly improved e-auction platform has been supplied.

The NCS has launched an enhanced e-auction platform for the transparent disposal of confiscated and past-due commodities, as Nairametrics previously reported.

The timing of the auction, terms and circumstances that apply, and bidding participation are all covered in this article on the e-auction platform.

Here’s everything you need to know about the NCS e-auction platform.

According to a message made by the NCS on its X (formerly Twitter) feed, here is what you should know about the Customs e-auction portal:

On Monday, January 15, 2024, the enhanced NCS e-auction platform became live.

The e-auction at https://auction.nigeriatradehub.gov.ng is only open to those who have a valid Tax Identification Number (TIN) from FIRS, validated on tax promax.

In addition to meeting the TIN requirements, interested parties can register on the e-auction platform by providing a current email address.

Participants must use the portal to pay a non-refundable N1,000 registration fee after successfully registering.

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The platform charges a participation fee of N1,000 for each bid.

Each window allows participants to bid on up to two goods at a time, with no maximum amount.

The NCS will not accept requests for a replacement or refund for items that are sold “as is” and are up for sale on the Customs e-auction portal.

Every Tuesday from 12 p.m. to 6 p.m., participants can place bids on the e-auction platform.

Those who place winning bids on things must pick up their winnings from the assigned terminal and make payment within three days.

An additional 25% of the winning bid goes to the shipping business and the remaining 25% goes to terminal operations for overtime products on the e-auction marketplace.

Winners claiming prizes must present the required identity and paperwork.

Owners of seized goods and Nigerian customs officers are not permitted to bid in the auction.

Every winning must be verified at any Customs Area Controller office around the country.

It is required to pay the 7.5% VAT and any relevant refundable container deposit as soon as possible.

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Additional Understanding

The Nigerian Customs Service Act of 2023 states that if an importer does not clear their goods at the port within ninety days, it is considered overtime.

The Nigerian Customs Service (NCS) is authorized by law to confiscate late items at the port.

In addition, the NCS is permitted to auction off seized and past-due items at the ports in order to make room for new shipments and bring in money for the government.