A bill seeking to grant a three-year amnesty to those
willing to return their loot from Nigeria’s treasury has
been introduced at the house of representatives.
The proposed legislation seeks to establish a
voluntary taxable income recovery and amnesty
scheme through which stolen wealth could be injected
into the economy.
Speaking with LEADERSHIP , Linus Okorie, sponsor of
the bill, said once it is signed into law, treasury looters
are expected to voluntarily declare stolen money
before the Central Bank of Nigeria (CBN).
“After the declaration, 30 percent of the declared sum
will be paid as tax into the federation account for
distribution to all the tiers of government in the
country,” Okorie said.
“While a 25 percent surcharge on the tax shall be
deplored towards agricultural and infrastructural
developments in the country. The remaining fund shall
be invested in any sector of choice in the nation’s
economy.”
Okorie, who stated that the bill is to aid the fight
against corruption, said the amnesty scheme would
benefit the country immensely as returned funds would
spur economic growth in the country.
“In effect, our anti-corruption drive would then be
prosecuted on a new paradigm and robust strategy
supported by a national consensus built upon a
positive attitudinal shift,” the lawmaker said.
TheCable
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