President Buhari Signed Two Instruments Today

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Following the approval of the Federal Executive Council (FEC), President Buhari today signed two instruments namely:

a. The Instrument of Ratification of the Agreement between the Govt of the Federal Republic of Nigeria and the Govt 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.

b. The Instrument of Ratification of the MoU among the Govt of Nigeria; the Swiss Federal Council & the Int'l Development Association on the Return, Monitoring & Management of Illegally-Acquired Assets Confiscated by Switzerland and to be Restituted to the Fed Rep of Nigeria.

With the execution of these instruments, Nigeria’s trade relations with Singapore and income therefrom are expected to rise, while the return of illegal assets will not only boost our anti-corruption drive, but also provide additional funds for critical infrastructure.

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