Section 67: Determination of classification, valuation and origin of imported and exported goods by the declarants

1 When lodging a declaration under the provisions of this Act, declarants shall -
a determine and declare the classification, valuation and origin of the goods applying -
(i) the nomenclature of the relevant international convention and agreements on the harmonised commodity description and coding system,
(ii) the provisions of the relevant international conventions and agreements on implementation of Article VII of the General Agreement on Tariffs and Trade,
(iii) the official currency of the Federal Republic of Nigeria, using the prevailing official exchange rate issued by the Central Bank of Nigeria, and applicable at the time of submission of declaration of the goods into Nigeria or the exportation of the goods from Nigeria,
(iv) rules of origin as may be specified in applicable international agreements and this Act, and
(v) international best practice; and
b exercise reasonable care in the determination and declaration of the tariff classification, valuation and origin of goods.

2 A declarant shall be liable to penalties for any negligent or false statements made knowingly or intentionally in contravention of the provisions of this Act or its regulations.