• Login
  • Register
Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
Nairametrics
No Result
View All Result
Home Business News

7 Advantages Of The New VIN As Explained By Madam Adeosun

Chacha Wabara by Chacha Wabara
December 20, 2016
in Business News
#MinisterialRetreat: Adeosun Tells Us What Buhari Says He Plans To Do With Emergency Powers
Share on FacebookShare on TwitterShare on Linkedin

The Federal Government has put a March 31, 2017 date to the commencement of registration of automobiles being imported into the country under the Vehicle Identification Number scheme. This was disclosed by Mrs. Kemi Adeosun during the opening of a workshop on the integration of the National Vehicle Identification System held at the Customs Command and Staff College, Gwagwalada, Abuja on Monday.

The Minister then went on to extol the benefits of the new registration directive while encouraging buyers to check for valid proof of compliance by importers before purchase. These are of the benefits of the VIN as put forward by Adeosun.

  1. It would reduce cases of smuggling through land borders
  2. Increased revenue by reducing leakages through the nation’s porous borders
  3. A reduction in imports under-declaration and evasion of duty payment
  4. Original vehicle manufacturers will be aware of their products imported into Nigeria
  5. Vehicle manufacturers will have to extend benefits of any recalls to Nigerian customers
  6. Increased transparency and accountability in the collection of duties
  7. Car theft and non-insurance of vehicles will be reduced in the long run

This initiative, as mentioned by Adeosun, will eventually be extended to all vehicles in the country and a central system for tracking all vehicles coming into Nigeria independent of point of entry, shared database for all regulatory and enforcement agencies and requirements.

RelatedStories

Bharti Airtel signs agreement to acquire Millicom’s operations in Rwanda  

Airtel chairman Sunil Bharti Mittal, one director join BT Group Board 

September 16, 2025
Nigeria’s weak external reserves are a concern – Fitch Ratings

Fitch warns Ghanaian banks to cut non-performing loans before 2026

September 16, 2025

However, as with issues concerning database creation and management in Nigeria, the issue revolves around compliance by importers and enforcement by regulators. For example, the National Identity Number project still fails to capture a sizable chunk of the nation’s population, defeating the noble purposes of its creation.

Another quick drawback that will come to mind involves the access to the database by law enforcement agencies. Issues relating to technical knowhow and infrastructure immediately popup as key obstacles that will need to be surmounted if the VIN scheme is to have any success.


Follow us for Breaking News and Market Intelligence.
Chacha Wabara

Chacha Wabara

Chacha Wabara-Ogbobine is a Legal practitioner with over 9years post call experience. A research Consultant, professional writer and a blogger at heart,owner of four thriving websites with well over 10years of experience. Totally in love with keeping fit and coaching weight loss enthusiasts. I love my quiet time, being with my kids, watching TV series for hours on end.

Related Posts

Bharti Airtel signs agreement to acquire Millicom’s operations in Rwanda  
Appointments

Airtel chairman Sunil Bharti Mittal, one director join BT Group Board 

September 16, 2025
Nigeria’s weak external reserves are a concern – Fitch Ratings
Financial Services

Fitch warns Ghanaian banks to cut non-performing loans before 2026

September 16, 2025
Digital Media

Total PLC projects loss after tax for FY 2025 amid rising expenses – FTM Podcasts Explains

September 16, 2025
Naira sinks in black market, U.S dollar posts best month in 2025
Currencies

Naira settles below N1,500/$ for first time since March  

September 16, 2025
Cybersecurity warning on fake iPhone 17 preorder websites and online scams targeting Apple buyers”
Sectors

Kaspersky raises alarm as iPhone 17 launch sparks global scam campaign 

September 16, 2025
Palm City project gains ground as Xymbolic engages NIFOR and Okomu Oil
Companies

Palm City project gains ground as Xymbolic engages NIFOR and Okomu Oil

September 16, 2025
Next Post
Buhari 2017 Budget

Download: Official 2017 Federal Budget Breakdown

Leave a Reply Cancel reply

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

otd
Palmpay
access bank
nairametrics
first bank








DUNS

Recent News

  • Airtel chairman Sunil Bharti Mittal, one director join BT Group Board 
  • Fitch warns Ghanaian banks to cut non-performing loans before 2026
  • Total PLC projects loss after tax for FY 2025 amid rising expenses – FTM Podcasts Explains

Follow us on social media:

Recent News

Bharti Airtel signs agreement to acquire Millicom’s operations in Rwanda  

Airtel chairman Sunil Bharti Mittal, one director join BT Group Board 

September 16, 2025
Nigeria’s weak external reserves are a concern – Fitch Ratings

Fitch warns Ghanaian banks to cut non-performing loans before 2026

September 16, 2025
  • iOS App
  • Android App
  • Contact Us
  • Home
  • Markets
  • Sectors
  • Economy
  • Business News
  • Financial Literacy
  • Disclaimer
  • Ads Disclaimer
  • Copyright Infringement

© 2025 Nairametrics

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Social Media Auto Publish Powered By : XYZScripts.com
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Login
  • Sign Up

© 2025 Nairametrics