Adedapo Adesanya
By Adedapo Adesanya
The federal government, through the Ministry of Finance, in collaboration with the Nigeria Customs Service (NCS), has commenced moves to create a vehicle database (VREG) with a view to checkmating import duty evasion and theft.
This was disclosed at the just-concluded training programme hosted by the NCS.
Mr Nnamdi Nwajiuba, the Business Analyst at Fourcore Technology Solutions Limited, a consultant to the Federal Ministry of Finance on the VREG, explained that the policy will provide lasting solutions to the menaces of customs duty evasion, vehicle theft and vehicle-related crimes.
He further said the system would address ineffective vehicle insurance coverage, among others, owing to the absence of a centralized nationwide vehicular information system.
Mr Nwajiuba explained that all vehicle owners in the country would be simply required to register their vehicle using their vehicle identification number on the VREG portal.
He stated that the platform would be connected to multiple global databases and vehicle history repositories for the robust curation and storage of vehicular data of all vehicles entering the country.
“By virtue of VREG’s connection to multiple stakeholders such as the NCS, National Insurance Commission (NAICOM), Vehicle Inspection Office (VIO), Central Bank of Nigeria (CBN) and Federal Road Safety Commission (FRSC), VREG is able to provide duty payment validation, vehicle ownership documentation, vehicle insurance validation, asset assessment for the moveable asset registry, and vehicle history reporting,” he said.
He further explained that the system will provide “a robust vehicular information database to better inform fiscal policy formulation and economic planning for the federal government.”
In addition, the customs duty clearance verification would be seamless as it would “boost anti-smuggling efforts of the NCS,” reduce vehicle-related crimes and theft through improved vehicle information and tracking.
He further said when the system becomes fully operational, there would be an “improved road and road user safety from enhanced vehicle road-worthiness and traffic regulation compliance,” while “robust and effective vehicle insurance coverage would be sustained by comprehensive vehicular information.”
Mr Nwajiuba noted that the establishment of a moveable asset registry for Nigerians by virtue of standardized vehicle information stored on the National Vehicle Registry would be beneficial to the nation.
