Connect with us

Business

Everything you need to know about the Customs e-auction portal

Published

on

Customs portal

The Nigeria Customs Service (NCS) has shared valuable information on utilizing its recently enhanced e-auction portal.

Nairametrics previously reported the NCS’s launch of an upgraded e-auction platform for the transparent disposal of seized and overdue goods.

This article covers all aspects of the e-auction portal, including participating in the bidding, auction timeline, and relevant terms and conditions.

Here’s all to know about the NCS e-auction portal

Here’s what you should know about the Customs e-auction portal, according to a post by the NCS on its X (formerly Twitter) handle:

  • The upgraded NCS e-auction portal was launched on Monday, 15 January 2024.
  • Only individuals with a valid Tax Identification Number (TIN) from FIRS, validated on tax promax, can participate in the e-auction at https://auction.nigeriatradehub.gov.ng.
  • Besides TIN requirements, interested participants must have an active email to sign up on the e-auction platform.
  • Upon successful sign-up, participants must pay a non-refundable fee of N1,000 through the platform.
  • Each bid on the portal incurs a participation fee of N1,000.
  • Participants can bid for a maximum of two items per window, with unlimited bids.
  • Items auctioned on the Customs e-auction portal are sold “as is,” and the NCS won’t entertain requests for replacement or refund.
  • The e-auction portal is open for bids from participants every Tuesday, from 12 noon to 6 pm.
  • Participants winning bids on items are required to make payments within 3 days and collect items from the designated terminal.
  • Overtime goods on the e-auction portal incur an additional charge on the winning bid, with 25% going to the shipping company and the remaining 25% to terminal operations.
  • Winners claiming items must provide necessary documentation and identification.
  • Nigerian Customs officers and owners of seized items are ineligible to participate in the auction.
  • All winnings must be validated at Customs Area Controller’s offices nationwide.
  • Prompt payment of a 7.5% VAT, and a refundable container deposit (if applicable) are mandatory.

More Insights

According to the Nigerian Customs Service Act of 2023, cargo is deemed overtime if the importer fails to clear it within 90 days at the port.

The law grants the Nigerian Customs Service (NCS) the power to seize overdue goods at the port.

Moreover, the NCS is authorized to auction off seized and overdue goods at the ports, creating space for other incoming cargoes and generating revenue for the government.


Download Nairametrics App for breaking news and market intelligence.
    app store banner

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Trending