Buhari signs deal with Switzerland on repatriation of stolen funds

By Chesa Chesa
Following the approval of the Federal Executive Council (FEC), President Muhammadu Buhari Monday signed the ratification of a Memorandum of Understanding with the Government of Switzerland and International Development Association for the repatriation of Nigeria’s stolen funds confiscated by the Swiss.
The signing of the document titled: ‘Instrument of Ratification of the Memorandum of Understanding (MoU) among the Government of the Federal Republic of 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 the Federal Republic of Nigeria’, was done at the Aso Rock Villa.
A presidency statement afterwards explained that the return of illegal assets would not only boost the administrationa��s anti-corruption drive, but also provide additional funds for critical infrastructure.
The President also signed another document: “The Instrument of Ratification of the Agreement between the Government of the Federal Republic of 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”.
With this, Nigeriaa��s trade relations with Singapore and income therefrom are expected to rise, while, added the statement issued by senior presidential spokesman, Femi Adesina.