President Muhammadu Buhari has signed a memorandum of understanding with the Swiss government and the International Development Association on the return, monitoring and management of illegally-acquired assets confiscated by Switzerland and to be restituted to Nigeria.
The Special Adviser to the President on Media and Publicity, Mr. Femi Adesina, disclosed this in a statement on Monday.
The presidential spokesman said this followed the approval of the Federal Executive Council (FEC).
He said the return of illegal assets would boost Buhari's administration’s anti-corruption drive and provide additional funds for critical infrastructure.
He said Buhari also signed the instrument of ratification of the agreement between the federal government 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.
Adesina stated that with the execution of these instruments, Nigeria’s trade relations with Singapore and income therefrom were expected to rise.