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AFWN2018

AFWN2018
AFRICA FASHION WEEK NIGERIA

Monday, June 25, 2018

After VAIDS, FG to begin Voluntary Asset Repatriation Scheme

Nigeria is set to partner foreign consultants, comprising legal practitioners and other experts in Switzerland on a voluntary offshore asset repatriation scheme. 


 This is coming barely one week to the expiration of
the Voluntary Assets and Income Declaration Scheme (VAIDS) which was extended to June 30 by President Muhammadu Buhari after the initial grace period lapsed. 

Mr Abubakar Malami, the Minister of Justice, disclosed this to the News Agency of Nigeria (NAN) in Bern, Switzerland on the sideline of a meeting held at the Nigerian Embassy. 

Malami said that under the scheme, experts would collaborate with the Swiss Government to target funds that have not been identified in ongoing investigations. 

It would be recalled that since 2015, $322 million looted funds have been repatriated from Switzerland.

According to Malami, Switzerland has been chosen as the pilot nation for the scheme, given the existing partnership on asset repatriation between both countries.

“The success of the scheme in Switzerland will determine the inclusion of other nations,’’ the minister said. 

He said Nigeria government was also involved in other international... 

Read the full story here: https://lnkd.in/eT3r9gY 

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