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Buhari Signs Amendment To Executive Order 008 On VOARS - Politics - Nairaland

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Senate Proposes Amendment To Immunity For Vice-Presidents, Governors And Others / Executive Order No. 008 Of 2018 / Buhari Signs Voluntary Offshore Assets Regularisation Scheme (VOARS) (2) (3) (4)

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Buhari Signs Amendment To Executive Order 008 On VOARS by todaynewsreview: 2:06pm On May 22
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

Re: Buhari Signs Amendment To Executive Order 008 On VOARS by Renida: 2:07pm On May 22
Hmm



Meanwhile


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Thank you

2 Likes

Re: Buhari Signs Amendment To Executive Order 008 On VOARS by Jaspaman: 2:25pm On May 22
Did he even know what he signed .

Somebody say sai baba!! grin grin

92 Likes 7 Shares

Re: Buhari Signs Amendment To Executive Order 008 On VOARS by jamaicabakare(m): 2:25pm On May 22
Ok
Re: Buhari Signs Amendment To Executive Order 008 On VOARS by EVILFOREST: 2:26pm On May 22
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
good

2 Likes

Re: Buhari Signs Amendment To Executive Order 008 On VOARS by NaijaOlosho(f): 2:26pm On May 22
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
On your own oooo.

1 Like

Re: Buhari Signs Amendment To Executive Order 008 On VOARS by ForeThinker: 2:26pm On May 22
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 2 Shares

Re: Buhari Signs Amendment To Executive Order 008 On VOARS by Joefat(m): 2:26pm On May 22
This mumu again

4 Likes

Re: Buhari Signs Amendment To Executive Order 008 On VOARS by Exc2000: 2:26pm On May 22
undecided



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
R
Re: Buhari Signs Amendment To Executive Order 008 On VOARS by Kingspin(m): 2:27pm On May 22
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
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
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
.
Re: Buhari Signs Amendment To Executive Order 008 On VOARS by shankara7: 2:28pm On May 22
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
Ok
Re: Buhari Signs Amendment To Executive Order 008 On VOARS by Iceberg3: 2:28pm On May 22
What does the jihadist and coneheads know about VOARS?

grin

1 Like

Re: Buhari Signs Amendment To Executive Order 008 On VOARS by Biofil84(m): 2:28pm On May 22
NaijaOlosho:
Has he read what he signed
cheesy sincerely you are a badt girl.

1 Like

Re: Buhari Signs Amendment To Executive Order 008 On VOARS by rosy1992(f): 2:28pm On May 22
Hmm, OK.
Re: Buhari Signs Amendment To Executive Order 008 On VOARS by IamFINESSE: 2:28pm On May 22
Bu wetin
Re: Buhari Signs Amendment To Executive Order 008 On VOARS by Ibiscon: 2:28pm On May 22
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
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 WiLdFLame(m): 2:29pm On May 22
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
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
Kingspin:
Somebody
Magnumproperty:
Ok
rosy1992:
Hmm, OK.
somziency:
.
darfay:
R
dayleke:
More ink to his pen.
thefacelessman:

Someone should please interpret for me o embarassed crycrycrycrycry

Na wao. grin grin grin

2 Likes 1 Share

Re: Buhari Signs Amendment To Executive Order 008 On VOARS by dayleke: 2:30pm On May 22
More ink to his pen.
Re: Buhari Signs Amendment To Executive Order 008 On VOARS by naija4life247: 2:30pm On May 22
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
Its none of my business.

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