• Home
  • Anti-Corruption
  • Fact-Check
  • Economy
  • National
    • Government
  • Security
  • Features
  • State
  • Event
    • PR Nigeria Award
  • E-Paper
Search
  • Home
  • About
  • Adverts
  • Contact
Sign in
Welcome! Log into your account
Forgot your password? Get help
Password recovery
Recover your password
A password will be e-mailed to you.
PRNIGERIA PRNigeria News
PRNIGERIA PRNIGERIA
  • Home
  • Anti-Corruption
    • Mohammed Idris Malagi, Honorable Minister of Information and National Orientation

      FG Reaffirms Non-Interference in ICPC, EFCC Operations

      ICPC Secures Conviction of Rector for Running Unaccredited Degree Programmes

      Engr Abba Babagana Dalori

      Engr Dalori Forfeits Galaxy Hospital, Petrol Station, Properties & Cash

      Chinese nationals jailed in Lagos

      Court Jails Nine Chinese Nationals for Cybercrime in Lagos

      ASUU

      Tackle Corruption, Institutional Decay – ASUU Charges FG

  • Fact-Check
  • Economy
    • NUPENG

      NUPENG Suspends Strike After Truce With FG, Labour, Oil Stakeholders

      Customs, Defence Bureau Unveil Airboat for Smuggling War

      Customs Begins Live Operations of Automated Excise Register System

      Still on the “National Single Window” Project By Abdulsalam Mahmud

      Minister of Finance Wale Edun and the Comptroller General of Customs Bashir Adeniyi decorating OP Olaniyan

      Customs Generates N3.7trn in H1 2025 as FG Targets Enhanced Private…

  • National
    • NUPENG

      NUPENG Suspends Strike After Truce With FG, Labour, Oil Stakeholders

      Senator Shehu Umar Buba

      Northern Youth Coalition Defends Senator Buba, Condemns Smear Campaigns

      UNODC, ONSA Push Open Source Intelligence to Combat Cybercrime

      Kaduna-Abuja Railway: An Urgent Call for Improved Maintenance and Security Compliance…

      Customs Board Approves $300 Duty-Free Limit for Imports to Boost Commerce

    • Government
      • Senator Shehu Umar Buba

        Northern Youth Coalition Defends Senator Buba, Condemns Smear Campaigns

        AU, Nigeria Sign MoU to Bolster Counter-Terrorism Efforts

        Kaduna-Abuja Railway: An Urgent Call for Improved Maintenance and Security Compliance…

        ICPC, State Information Chiefs Forge New Alliance to Combat Grassroots Corruption

        Shettima Condemns Borno Attack, Assures Perpetrators Won’t Escape Justice

  • Security
    • Mohammed Idris Malagi, Honorable Minister of Information and National Orientation

      FG Says Shea Export Suspension Will Create Jobs, Spur Investment

      Nigerian Police Force

      Kwara Police Release 48 Suspects After Finding No Criminal Links

      Commandant General of the Nigeria Security and Civil Defence Corps (NSCDC), Dr. Ahmed Abubakar Audi

      NSCDC Moves to Arrest Killers of 8 Operatives in Edo, Deploys…

      UNODC, ONSA Push Open Source Intelligence to Combat Cybercrime

      Military troops

      Troops Rescue 5 Kidnap Victims, Repel Multiple Bandit Attacks in Katsina

  • Features
    • Chief of the Air Staff (CAS), Air Marshal Hasan Bala Abubakar, and delegation from the United States Institute of Security Governance led by retired Major General Miguel Castellanos,

      Nigeria, US to Expand Air-Ground Integration for Safer Counterterrorism Operations

      Kaduna-Abuja Railway: An Urgent Call for Improved Maintenance and Security Compliance…

      IPRA GWA WINNER Logo 2018

      The Human Factor: IPRA President Addresses AI’s Role in PR

      Brig Gen Mohamed Buba Marwa (rtd)

      Marwa, A Man of Uncommon Grace at 72 By Femi Babafemi

      PRNigeria logo fearured image

      Recollecting a Media Dialogue on Words and Extremism in Abuja

  • State
    • Commandant General of the Nigeria Security and Civil Defence Corps (NSCDC), Dr. Ahmed Abubakar Audi

      NSCDC Moves to Arrest Killers of 8 Operatives in Edo, Deploys…

      Military troops

      Troops Rescue 5 Kidnap Victims, Repel Multiple Bandit Attacks in Katsina

      Police Officer

      Security Forces Foil Robbery Attack on Abuja–Kaduna Highway, Enhance Patrol Along…

      CP Ajao Saka Adewale

      FCT Police Warn Residents Against Bribing Traffic Officers

      A Group of Terrorists/Bandits

      Borno Village Attack Leaves Dozens Dead, UN Condemns Violence

  • Event
    • PHOTOS: BUK Alumni Association Launches Digital Hub to Unite Global Graduates,…

      Founder Image Merchant Promotion Ltd, Yushau Shuaib, Nigeria Customs CG, CGC Bashir Adewale Adeniyi and the IPRA representative during the 2024 GWA awards in Belgrade, Serbia

      Again, ​IPRA Shortlists Nigeria Customs, IMPR for Golden World Awards, Celebrates…

      BUKAA Announces 2025 AGM at BUK New Campus: Join In-Person or…

      Vice President Kashim Shettima and President Bola Ahmed Tinubu

      Shettima at 59: Tinubu Hails VP’s Loyalty, Commitment to Service

      Erasmus Ikhide damaged Vehicle and Dangote Cement Truck

      Erasmus Ikhide Narrowly Escapes Death in Collision with Dangote Truck

    • PR Nigeria Award
  • E-Paper
Home Government Buhari Amends 2018 Executive Order on Offshore Assets Declaration
  • Government

Buhari Amends 2018 Executive Order on Offshore Assets Declaration

By
Ogundoro Modupe
-
May 22, 2020
President Muhammad Buhari
President Muhammad Buhari
Buhari Amends 2018 Executive Order on Offshore Assets Declaration
President Muhammadu Buhari of the Federal Republic of Nigeria 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 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.

Read Also:

  • NUPENG Suspends Strike After Truce With FG, Labour, Oil Stakeholders
  • FG Says Shea Export Suspension Will Create Jobs, Spur Investment
  • Nigeria, US to Expand Air-Ground Integration for Safer Counterterrorism Operations

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 )
VISIT OUR OTHER WEBSITES
PRNigeria.com EconomicConfidential.com PRNigeria.com/Hausa/
EmergencyDigest.com PoliticsDigest.ng TechDigest.ng
HealthDigest.ng SpokesPersonsdigest.com TeensDigest.ng
ArewaAgenda.com Hausa.ArewaAgenda.com YAShuaib.com
  • TAGS
  • buhari
  • Executive order 008
  • offshore
Previous articleCOVID-19: The Need for a Social Science Approach in Nigeria- Prof Yusuf Adamu
Next articleFG to Leverage on ICT to Defeat COVID-19- Perm Sec
Ogundoro Modupe
Ogundoro Modupe
Xing

RELATED ARTICLESMORE FROM AUTHOR

Senator Shehu Umar Buba

Northern Youth Coalition Defends Senator Buba, Condemns Smear Campaigns

AU, Nigeria Sign MoU to Bolster Counter-Terrorism Efforts

Kaduna-Abuja Railway: An Urgent Call for Improved Maintenance and Security Compliance By Samuel Aruwan

ICPC, State Information Chiefs Forge New Alliance to Combat Grassroots Corruption

Shettima Condemns Borno Attack, Assures Perpetrators Won’t Escape Justice

Omoyele Sowore and President Bola Ahmed Tinubu

​DSS Demands Retraction, Apology from Sowore Over Comments on Tinubu

JUST IN: NNPP Expels Reps Member Abdulmumin Jibrin Days After Visiting Tinubu

Ganduje: A Lifetime of Service Beyond Politics By Garba Yusuf Abubakar

Eid El-Maulid: Kwara Gov Urges Muslims To Embrace Unity, Shun Partisanship

Officers of NSCDC Mining Marshals

Nigeria’s War on Illegal Mining Needs the Media on the Frontlines By Zekeri Idakwo Laruba

FG, Experts Urge Information Commissioners to Partner with ICPC on Grassroots Anti-Corruption Drive

ASUU-STRIKE

Strikes in Nigeria and the Collapse of Public Service By Tahir Ahmad

Recent Posts

  • NUPENG Suspends Strike After Truce With FG, Labour, Oil Stakeholders
  • FG Says Shea Export Suspension Will Create Jobs, Spur Investment
  • Nigeria, US to Expand Air-Ground Integration for Safer Counterterrorism Operations
  • Kwara Police Release 48 Suspects After Finding No Criminal Links
  • Northern Youth Coalition Defends Senator Buba, Condemns Smear Campaigns
  • Home
  • About
  • Adverts
  • Contact
© 2020 PRNigeria. All Rights Reserved.
Latest News
NUPENG Suspends Strike After Truce With FG, Labour, Oil StakeholdersFG Says Shea Export Suspension Will Create Jobs, Spur InvestmentNigeria, US to Expand Air-Ground Integration for Safer Counterterrorism OperationsKwara Police Release 48 Suspects After Finding No Criminal LinksNorthern Youth Coalition Defends Senator Buba, Condemns Smear CampaignsNSCDC Moves to Arrest Killers of 8 Operatives in Edo, Deploys Special SquadsUNODC, ONSA Push Open Source Intelligence to Combat CybercrimeTroops Rescue 5 Kidnap Victims, Repel Multiple Bandit Attacks in KatsinaSecurity Forces Foil Robbery Attack on Abuja–Kaduna Highway, Enhance Patrol Along Rail LineAU, Nigeria Sign MoU to Bolster Counter-Terrorism EffortsKaduna-Abuja Railway: An Urgent Call for Improved Maintenance and Security Compliance By Samuel AruwanThe Human Factor: IPRA President Addresses AI's Role in PRNigeria, African Union Sign MoU on Intelligence Sharing, CounterterrorismNiger Delta Operations: Troops Arrest 35, Recover Arms and Stolen OilMarwa, A Man of Uncommon Grace at 72 By Femi Babafemi
X whatsapp