The Nigeria Customs Service (NCS) has announced a significant success in its e-auction endeavours, generating over N500 million from the sale of seized and overdue vehicles through its online platform. Spanning from January 16 to February 13, 2024, the e-auction events saw remarkable participation, with 13,605 individuals registering to bid.
Throughout the five auction windows, a total of 476 vehicles were listed on the portal, out of which 462 were successfully auctioned to bidders. The total value of the won vehicles amounted to N556,738,736.
The NCS unveiled its upgraded e-auction portal on January 15, 2024, with the inaugural e-auction event commencing the following day. Interested individuals can access the portal at https://auction.nigeriatradehub.gov.ng.
To participate in the e-auction, bidders are required to 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 registration fee of N1,000 is charged upon successful registration, and each bid incurs a participation fee of N1,000. Bidders are allowed to bid on up to two items per auction window, with no limit on the number of bids placed.
Winning bidders must complete payment within three days and arrange for the collection of items from the specified terminal. Notably, customs officers and owners of seized items are prohibited from participating in the auction.
It is important to highlight that goods purchased through the e-auction are subject to additional fees, with 25 percent allocated to the shipping company and 25 percent to terminal operations.
