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Nairaland Forum / Nairaland / General / Politics / Buhari Signs Amendment To Executive Order 008 On VOARS (30470 Views)
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Buhari Signs Amendment To Executive Order 008 On VOARS by todaynewsreview: 2:06pm On May 22, 2020 |
President Muhammadu Buhari, has signed the Executive Order 008 on Voluntary Offshore Assets Regularization Scheme (VOARS), of October 2018. As a result of stakeholders input and need to strengthen implementation mechanisms and structures, the Order was reviewed. Consequently, the Amendment to Executive Order 008 of 2008 was signed on 20th May, 2020, by President Buhari. Dr. Umar Jibrilu Gwandu, Special Assistant ( Media) to the Honourable Attorney-General of the Federation and Minister of Justice, Abubakar Malami (SAN) made this known in a statement issued on Thursday, 21st May, 2020. The statement disclosed that, the Executive Order 008 as amended, mandated the Attorney General of the Federation to set up and implement a Voluntary Offshore Assets Regularization Scheme (hereinafter referred to as “VOARS”). VOARS gives all relevant persons and their intermediaries who have defaulted in declaration of their offshore assets, the opportunity to voluntarily declare and regularize their offshore assets, subject to fulfillment of the terms and conditions stipulated in the Order and other subsequent regulations. “In order to ensure seamless exchange of information, VOARS will work closely with Nigeria Financial Intelligence Unit (NFIU) which has worldwide access to relevant financial information”. FGN hopes that relevant persons amongst Nigerians, Nigerian entities and their intermediaries will seize the opportunity provided by VOARS to declare and regularize their offshore assets before it is too late. Relevant persons who voluntarily declare their offshore assets and pay the stipulated levy to FGN will receive compliance certificates which allows them to use their residual assets freely without hindrance. The recoveries accruing to FGN will be used for essential infrastructure development for benefit of Nigerians. 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 FGN 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.” Ogundoro Modupe Deputy Director (Information) 21st May, 2020. https://fmic.gov.ng/president-buhari-signs-amendment-to-2018-executive-order-008-on-voluntary-offshore-assets-regularization-scheme-voars/ 5 Likes 3 Shares
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Re: Buhari Signs Amendment To Executive Order 008 On VOARS by Renida: 2:07pm On May 22, 2020 |
Hmm Meanwhile Contact me for affordable graphic designs for your business and projects Thank you 2 Likes |
Re: Buhari Signs Amendment To Executive Order 008 On VOARS by Jaspaman: 2:25pm On May 22, 2020 |
Did he even know what he signed . Somebody say sai baba!! ![]() ![]() 92 Likes 7 Shares |
Re: Buhari Signs Amendment To Executive Order 008 On VOARS by jamaicabakare(m): 2:25pm On May 22, 2020 |
Ok |
Re: Buhari Signs Amendment To Executive Order 008 On VOARS by Nobody: 2:26pm On May 22, 2020 |
Sai MaMa Ride on One day you will sign an EXECUTIVE ORDER to usher in an Expatriate Leadership into Nigeria and Nigeria will be great again, since we can't govern ourselves again 43 Likes 4 Shares |
Re: Buhari Signs Amendment To Executive Order 008 On VOARS by paulolee(m): 2:26pm On May 22, 2020 |
good 2 Likes |
Re: Buhari Signs Amendment To Executive Order 008 On VOARS by NaijaOlosho(f): 2:26pm On May 22, 2020 |
Has he read what he signed 6 Likes |
Re: Buhari Signs Amendment To Executive Order 008 On VOARS by atobs4real(m): 2:26pm On May 22, 2020 |
On your own oooo. 1 Like |
Re: Buhari Signs Amendment To Executive Order 008 On VOARS by ForeThinker: 2:26pm On May 22, 2020 |
If you want to do something big in your life, you must remember that shyness is only the mind, if you think shy, you act shy. If you think confident, you act confident. Therefore never let shyness conquer your mind. 24 Likes 3 Shares
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Re: Buhari Signs Amendment To Executive Order 008 On VOARS by Joefat: 2:26pm On May 22, 2020 |
This mumu again 4 Likes |
Re: Buhari Signs Amendment To Executive Order 008 On VOARS by Exc2000: 2:26pm On May 22, 2020 |
![]() why didn't Buhari send the executive order to the senate as an executive bill so that we can have a proper law regarding it Now Buhari clearly wants to use Prof Agboola Gambari's international diplomatic connections and knowledge to go after looted foreign asset of politicians... If i work abroad and get my asset over there, who the fvck is Nigerian Government to make me declare it? did I make the money in Nigeria . 19 Likes |
Re: Buhari Signs Amendment To Executive Order 008 On VOARS by darfay: 2:26pm On May 22, 2020 |
R |
Re: Buhari Signs Amendment To Executive Order 008 On VOARS by Kingspin(m): 2:27pm On May 22, 2020 |
Somebody should inform Buhari to sign the electorate bill also now the elections still far away. Cos, It will benefit both Apc, PDP and other more especially Nigerians. 7 Likes |
Re: Buhari Signs Amendment To Executive Order 008 On VOARS by YorubaKinging: 2:27pm On May 22, 2020 |
Buhari doesn't know shit about anything Any documents that finds its way to his table always get signed He's just a figure head president and will go down in history as the worst president of Nigeria 12 Likes 3 Shares |
Re: Buhari Signs Amendment To Executive Order 008 On VOARS by Zuriel23: 2:27pm On May 22, 2020 |
Ok. Well-done Mr President, so when are you signing the electoral amendment bill. It been on your table for long. 6 Likes 1 Share |
Re: Buhari Signs Amendment To Executive Order 008 On VOARS by somziency: 2:27pm On May 22, 2020 |
. |
Re: Buhari Signs Amendment To Executive Order 008 On VOARS by shankara7: 2:28pm On May 22, 2020 |
Make I hear say na Buhari tweet that polished information. I bet he doesn't even know what is Twitter. 8 Likes |
Re: Buhari Signs Amendment To Executive Order 008 On VOARS by Magnumproperty: 2:28pm On May 22, 2020 |
Ok |
Re: Buhari Signs Amendment To Executive Order 008 On VOARS by Iceberg3: 2:28pm On May 22, 2020 |
What does the jihadist and coneheads know about VOARS? ![]() 1 Like |
Re: Buhari Signs Amendment To Executive Order 008 On VOARS by Biofil84(m): 2:28pm On May 22, 2020 |
NaijaOlosho: ![]() 1 Like |
Re: Buhari Signs Amendment To Executive Order 008 On VOARS by rosy1992(f): 2:28pm On May 22, 2020 |
Hmm, OK. |
Re: Buhari Signs Amendment To Executive Order 008 On VOARS by IamFINESSE: 2:28pm On May 22, 2020 |
Bu wetin ![]() |
Re: Buhari Signs Amendment To Executive Order 008 On VOARS by Ibiscon: 2:28pm On May 22, 2020 |
Gudos to Mr president 1 Like 1 Share |
Re: Buhari Signs Amendment To Executive Order 008 On VOARS by EasternActivist: 2:29pm On May 22, 2020 |
Thank God for this. At least one good policy against the corrupt elites 1 Like 1 Share |
Re: Buhari Signs Amendment To Executive Order 008 On VOARS by Nobody: 2:29pm On May 22, 2020 |
A very good one , this will deter our politicians who are in the habit of stacking away the wealth of the nation overseas 1 Like 1 Share |
Re: Buhari Signs Amendment To Executive Order 008 On VOARS by laptramaptra: 2:29pm On May 22, 2020 |
Virtual presidency. somebody is signing document but we can't see them. Twitter presidency. ndia ara 5 Likes 1 Share |
Re: Buhari Signs Amendment To Executive Order 008 On VOARS by Iceberg3: 2:30pm On May 22, 2020 |
Kingspin: Magnumproperty: rosy1992: somziency: darfay: dayleke: thefacelessman: Na wao. ![]() ![]() ![]() 2 Likes 1 Share |
Re: Buhari Signs Amendment To Executive Order 008 On VOARS by dayleke: 2:30pm On May 22, 2020 |
More ink to his pen. |
Re: Buhari Signs Amendment To Executive Order 008 On VOARS by naija4life247: 2:30pm On May 22, 2020 |
Those who have hears, let them hear |
Re: Buhari Signs Amendment To Executive Order 008 On VOARS by gambia(m): 2:31pm On May 22, 2020 |
Its none of my business. |
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