- As the war against corruption rages on, President Buhari has signed two agreements with Switzerland and Singapore
- The agreement with Switzerland will help in the recovery of stolen assets while that of Singapore is for the avoidance of double taxation
- The return of illegal assets will boost the administration’s anti-corruption drive and also provide additional funds for critical infrastructure
President Muhammadu Buhari in furtherance of his anti-corruption war signed an agreement with Switzerland that will see to the return of stolen assets hidden in the country to Nigeria.
This was contained in a statement issued by Femi Adesina, the special adviser to the president on media and publicity on Monday, March 26.
The president also signed another agreement with Singapore for the avoidance of double taxation. This is expected to boost Nigeria’s trade with Singapore.
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Read statement below:
Following the approval of the Federal Executive Council (FEC), President Muhammadu Buhari Monday signed two instruments namely:
The Instrument of Ratification of the Agreement between the Government of the Federal Republic of Nigeria and the Government of the Republic of Singapore for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with Respect to Taxes on Income and Capital Gains.
The other was the Instrument of Ratification of the Memorandum of Understanding (MoU) among the Government of the Federal Republic of Nigeria; the Swiss Federal Council and the International Development Association on the Return, Monitoring and Management of Illegally-Acquired Assets Confiscated by Switzerland and to be Restituted to the Federal Republic of Nigeria.
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With the execution of these instruments, Nigeria’s trade relations with Singapore and income therefrom are expected to rise, while the return of illegal assets will not only boost the administration’s anti-corruption drive, but also provide additional funds for critical infrastructure.
Meanwhile, the executive chairman of the Centre for Anti-corruption and Open Leadership (CACOL), Debo Adeniran, asked Nigerians to be very vigilant in the coming days as politicians come to them for their votes.
He, however, argued that even though President Buhari may not be the best, as claimed by some people, he had done enough within the last three years to warrant him being called a champion, especially in the area of the war against corruption.
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