26th March, 2018
Nigeria’s President, Muhammadu Buhari on Monday signed the instrument of ratification of the Memorandum of Understanding, MoU among 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 Nigeria.
A statement issued by Femi Adesina, Special Adviser to the President on Media and Publicity, said the signing followed the approval of the Federal Executive Council (FEC) recent.
The president also signed an instrument of Ratification of the Agreement between 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 statement said with the execution of these instruments, Nigeria’s trade relations with Singapore and income therefrom were expected to rise, while the return of illegal assets would not only boost the administration’s anti-corruption drive, but also provide additional funds for critical infrastructure.