Federal Government Will Prosecute Anyone Evading Tax On Foreign Properties
The Attorney General of Nigeria Abubakar Malami, has on friday warn Nigerians evading tax on foreign properties to stop or they would be prosecuted henceforth when found guilty.
This was made known in a signed statement by his Spokesperson, Usman Gwande. Abubakar Malami stated that banks protecting Nigerian citizens should abstain from it. Furthermore, any bank or intermediary that helps a Nigerian citizen to protect such property would have to pay a fine which will be the exact cost of the property. In his statement, “For defaulters who may be tempted to continue concealment of their offshore assets, Executive Order 008 as amended stipulates that any domestic or foreign bank, asset manager or intermediary that cooperates with defaulters, enabling them to conceal offshore assets and obligations pertaining to them shall, upon discovery, be liable to pay to the federal government a penalty on the total of such offshore assets, in addition to other penalties provided for under Nigerian laws or laws of foreign countries from which Nigeria can benefit".