President Muhammadu Buhari has signed an executive order mandating Nigerian taxpayers to declare and pay tax on their offshore assets.Garba Shehu, presidential spokesman, announced this in a statement on Wednesday.According to the statement, asset owners have a 12-month window grace to declare and pay tax on their assets, under the new executive order number eight, tagged Voluntary Offshore Assets Regularization [...]
Tag "assets"
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Ike Ekweremadu, deputy senate president, says he does not have any case of assets declaration to answer.The deputy senate president said this in response to a suit filed against him by the special presidential investigation panel for the recovery of public property (SPIP).John Tsoho, the judge handling the case, ordered that Ekweremadu be served through the clerk of the national assembly and fixed [...]
On July 5, President Muhammadu Buhari signed into law an executive order on seizure of assets suspected to have been acquired with stolen funds.The order seeks to deny suspects access to assets seized by agencies investigating them.Among those targetted by the executive order are former governors, ex-ministers, some politically exposed persons, businessmen, top civil servants and private individuals and companies.Below are [...]
The Asset Management Corporation of Nigeria (AMCON) says it recovered bad loans worth N731bn, excluding clawbacks, from the start of its operations in 2010 up to December 2017.Assets in form of properties accounted for about 35 percent of the total amount recovered in the seven-year period.Ahmed Kuru, managing director, AMCON, made the disclosure while declaring open a two-day Asset Sales [...]
President Muhammadu Buhari says all unclaimed looted assets, including landed properties recovered by the federal government, would be sold and the proceeds deposited into government treasury.The president made this known when he addressed members of Daura emirate coalition who paid him a condolence visit at his country home, Daura, Katsina state, on Monday.He said many "looters" of government resources had [...]
Abimbola Akingboye, chief executive officer of 3A Auctions House Limited, a general auction house, has advised Nigerians to stop holding on to assets that are not in use as these could be auctioned.In a press statement released by the company to announce the delivery of the private jet it auctioned recently to the new owner in the United States of [...]
Lai Mohammed, minister of information and culture, says the federal government has created a register for all recovered assets to prevent "re-looting".Speaking at a meeting with Mohammed Ibn Chambas, representative of the United Nations secretary-general for West Africa in Abuja on Friday, Mohammed said the register would be made public soon."Corruption is as dangerous as terrorism. For an economy as [...]
Femi Falana, human rights lawyer, says recent interest in the country's assets to pull out of economic recession is merely an attempt to concentrate the nation's wealth in the hands of a few people.The talk of selling national assets to move out of recession was one of the more dominant news items of last week, after the likes of Bukola Saraki, president of the senate, Aliko [...]
Joseph Idiong, director-general of the Association of Nigerian Exporters, has advised the federal government to request Nigerians with oil blocks for single digit interest loans to address the current recession in the country.Idiong gave the advice in an interview with NAN in Abuja on Wednesday.“The privileged few who were favoured with petroleum blocks, crude oil sales and petroleum subsidy licences [...]
The Economic and Financial Crimes Commission (EFCC) has gotten the approval of a federal high court in Abuja to place an embargo on the assets of Ayo Fayose, Ekiti state governor, up until August 3.The court had on July 20, given the anti-graft agency permission to seize property belonging to Fayose, pending the completion of an ongoing investigation.On Tuesday, the [...]
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