FG commences pilot phase of National Vehicle Registry project

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Mrs Zainab Ahmed, the Minister of Finance, Budget and National Planning, says the Federal Government has commenced the pilot phase of the National Vehicle Registry (VREG) project.

Ahmed said this on Thursday in Abuja at a sensitisation seminar on understanding the process of VREG, adding that the pilot phase commenced at the Nigeria Customs Service (NCS) Kirikiri Light Terminal

She said that the registry was powered by interconnected interactions of key agencies, parties and stakeholders whose channels facilitate its robust functionalities.

According to her, the stakeholder relationships that will facilitate the achievement of the goals of the registry include Federal Road Safety Corps (FRSC) and State Revenue Systems’ integration with VREG.

This would be for information interchange on nationwide vehicle registration, ownership, history and proper road traffic regulation and violation enforcement.

“Providing the NCS with guidance in all clearing, duties, registration and redistribution of vehicles, targeted at ensuring that all vehicles are trackable, taxable and generate more revenues.

“The integration of the National Insurance Commission (NAICOM) onto VREG for aggregation and regularisation of vehicle insurance across the country.

“Communication between Central Bank of Nigeria’s (CBN) moveable asset registry and VREG to provide dynamic records of vehicular assets, thus boosting lend ability to Nigerians”, NAN reports.

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