Buhari Signs Executive Order on Overseas' Assets Declaration

President Muhammadu Buhari has signed an amendment to the Executive Order 008 of 2018 on Voluntary Offshore Assets Regularisation Scheme.

The executive order gives all individuals who have defaulted in the declaration of their overseas assets the opportunity to voluntarily declare and pay appropriate levies.

According to a statement released on Thursday, May 21, by Umar Jibrilu Gwandu, the media aide to the Attorney-General of the Federation and Minister of Justice, Abubakar Malami (SAN), President Buhari signed the amendment on Wednesday, May 20, ThisDay reports.


It was gathered  that the president signed the amended executive order after inputs by relevant stakeholders.

Nigerians are urged to seize the opportunity provided by the new executive order to declare and regularise their overseas assets before it is too late.

According to the AGF, persons who voluntarily declare their overseas assets and pay the stipulated levy to the government will receive compliance certificates.

The certificate will allow them to use their assets freely without any hindrance.

The proceeds accruing to the federal government from the assets will be used for essential infrastructure development, the AGF said.


Anywho who defaults and the banks that cooperate with them to conceal their offshore assets will be made to pay penalties to the Nigerian government, according to the executive order


SOURCE: LEGIT.NG

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