Official states FRSC to distribute N12 billion from proof of ownership proceeds

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According to an official, the N12 billion generated from the newly introduced annual fee of N1,000 for Proof of Ownership Certificate verification will be distributed among the Federal Road Safety Corps (FRSC), the states, and the consultants involved in the exercise. The Permanent Secretary of the Lagos Ministry of Transportation, Abdulhafiz Toriola, confirmed this information. The Proof of Ownership Certificate aims to ensure the credibility of registered vehicles in the National Vehicle and Identification Scheme database and aid in the tracking of stolen vehicles. The issuance of the certificate is a legal requirement to enhance transparency, security, and accountability in the transportation network. The fee collection is expected to begin in July 2023, and it is projected that the government will generate at least N12 billion from the levy, based on the total number of vehicles in the country.

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