Hiding Monies Overseas Must Stop, Buhari Warns Nigerians

President Muhammadu Buhari has warned Nigerians to stop hiding monies meant to develop the nation in foreign countries, in a bid to avoid paying tax.

The President, who is in the United Kingdom, gave the warning on Wednesday in a statement signed by his Special Adviser on Media and Publicity, Mr Femi Adesina.Hiding monies overseas, evading taxes by manipulation, and other unwholesome practices, have never developed a country, and for Nigeria to attain her true potential, these must stop,” he said.

“For a nation of people who are competitive and driven, it is not a pride that we are the lowest performer in tax to GDP, not just in Africa, but in the world. Nigeria’s growth needs are such that every Nigerian must do his duty to his nation, to his neighbour, and to himself.”nd, President Buhari approved the extension of the Voluntary Assets and Income Declaration Scheme (VAIDS) to June 30, 2018.

He explained that the short extension after the original March 31 date was based on the appeals of professional bodies and individual taxpayers.

The President stressed that a new date was also given, based on the conviction of the Ministry of Finance that the overall objective to increase compliance would be attained, and additional revenue would accrue.

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