The Nigeria Customs Service (NCS) has said on Friday that no fewer than 223 companies short-changed the Federal Government to a total bond value of N379 58 billion in the last three years.
According to the NCS on Friday, the defaulters did this by violating the conditions of the Temporary Admission Permits (TAP) regime.
Also, NCS announced a 21-day grace period, effective from Monday, 28th July 2025, for importers, who have defaulted on the terms of their TAP to do the needful and act according to law by regularising their payment to the service.
In a statement by the National Public Relations Officer of the service, Abdullahi Maiwada, “The affected importers are advised to take immediate steps to regularise their importation status by either applying for a valid extension, re-exporting the items under Customs supervision, or converting the goods to home use, subject to the payment of appropriate duties.
“It is pertinent to note that temporary importation is a regulated concession under international and national Customs frameworks, including the Revised Kyoto Convention (RKC) and Sections 142 to 144 of the Nigeria Customs Service Act, 2023.
“It allows the temporary admission of goods into the country without full duty payment, provided such goods are re-exported within a specified period without alteration beyond normal depreciation.
However, Maiwada said that the recent compliance checks by the service revealed that 223 companies have failed to adhere to the conditions of the TAP regime, thereby defaulting a total bond value of ₦379.58 billion.
According to him, they neither re-exported the goods nor fulfilled their obligation to convert them to home use by paying the necessary duties.
He added: “By law, all TAP beneficiaries are required to secure their duty exemption with bank bonds, which serve as financial guarantees in case of non-compliance.
“Typically, TAPs are granted for 12 months, extendable by another year, and under special consideration, a further extension of six months plus a final six-month grace period. Failure to comply after these periods constitutes a breach.
“In line with Section 143 of the NCS Act 2023, the Nigeria Customs Service is empowered to discharge the bond value as customs duty into the Federal Government’s account if the importer fails to meet the stated obligations.
“The 21-day grace period, therefore, serves as a final window for affected importers to take corrective action. At the expiration of this deadline, the Service will commence enforcement actions, which may include bond invocation, imposition of penalties, and legal proceedings.
“The Nigeria Customs Service, under the leadership of the Comptroller-General of Customs, Bashir Adewale Adeniyi, remains fully committed to enforcing regulatory compliance, protecting national revenue, and maintaining the integrity of the TAP framework.
Stakeholders and the trading public are advised to take advantage of this grace period and avoid actions that could result in sanctions.”
