Undeclared Offshore Assets: FG okays amnesty, immunity for defaulters vanguardngr.com vanguardnews
The Attorney General of the Federation and Minister of Justice, Mr. Abubakar Malami, SAN, who made the disclosure, said the immunity package would shield the owners from tax offences, penalties and interests concerning such declared offshore assets.Malami spoke at the unveiling ceremony of the Voluntary Offshore Assets Regularization Scheme, VOARS, in Abuja.
“It is expected that those funds owned by Nigerians that are not in the system will be voluntarily declared by the owners”, Malami stated. “The Infrastructure Fund will serve as a proposed investment facility, where the Federal Government of Nigeria will have minimal investment, with the matching investments from banks and prospective international investors as well as Nigerians, holders of the sixty-three percent who are expected to invest into this fund with the view of financing Nigerians infrastructure and bridging the deficient all attracting Foreign Direct Investment.
“Permanent waiver of criminal prosecution for tax offences and offences related to the offshore assets, penalties and interests concerning such declared offshore assets.
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