Undeclared offshore assets: FG okays amnesty, immunity for defaulters

The federal government, has said that it has approved tax amnesty and permanent waiver of criminal prosecution to owners of offshore assets that are willing to voluntarily declare them.

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.

Mr. Malami spoke at the unveiling ceremony of the voluntary offshore assets regularization scheme, (voars), in Abuja.

He added that the voluntary offshore assets regularization scheme Voars was a scheme that was initiated by the Swiss consortium with a view to facilitating the regularization of offshore assets owned by Nigerians.

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