The Nigeria Customs Service (NCS) has announced a significant achievement, raising over N500 million from the successful e-auction of seized and overdue vehicles via its e-auction portal. This feat was accomplished between January 16 and February 13, 2024, as revealed in a video shared on the NCS’s official X account on Sunday.
During this period, the e-auction portal attracted substantial interest, with 13,605 individuals registering to participate. A total of 476 vehicles were listed on the portal across five auction windows, out of which 462 were successfully auctioned to bidders, resulting in a total value of won vehicles amounting to N556,738,736.
The NCS had unveiled the upgraded NCS e-auction portal on January 15, 2024, initiating its inaugural e-auction event the following day. Interested individuals can access the portal at https://auction.nigeriatradehub.gov.ng. The auction portal opens for bids every Tuesday, from 12 noon until 6 pm.
To participate, bidders must possess a Tax Identification Number (TIN) from the Federal Inland Revenue Service (FIRS), verified through Tax Pro-Max, and an active email account for registration on the platform. A non-refundable fee of N1,000 is charged upon successful registration, and each bid incurs a participation fee of N1,000. Participants can bid on up to two items per auction window, with no limit on the number of bids placed.
It is essential to note that items available for auction are sold in their current condition, and the NCS does not entertain requests for replacements or refunds. Winning bidders must complete payment within three days and arrange to collect items from the specified terminal. Additionally, goods purchased through the e-auction over time are subject to an additional fee on the winning bid, with 25% allocated to the shipping company and 25% to terminal operations.
Importantly, Nigerian Customs officers and owners of the seized items are prohibited from participating in the auction. Winners must also pay a 7.5% Value Added Tax (VAT) and a refundable container deposit, where applicable.
This successful e-auction initiative underscores the NCS’s commitment to transparency and revenue generation while providing opportunities for interested buyers to acquire seized vehicles through a fair and regulated process.
