FEBRUARY 20, 2018NIGERIA STOCK EXCHANGE (Market Open) SUMMARY:All Share 41,708.15Index Deals 6,309.00Volume 470,520,500.00Value 3,682,735,640.95Market Cap 9,729,801,517,975.87TOP GAINERSWAPCO 50 (51)ZENITHBANK 29.4 (30)BERGER 9 (9.45)ACCESS 11.55 (12)DANGSUGAR 20.7 (21)TOP LOSERSNESTLE 1360 (1320)DANGCEM 272 (258.7)NB 133 (127.8)GUINESS 110 (105)INTBREW 60 (57.5)Buying:USD 304.9GBP 422.4694 EURO 373.8684 SWISS FRANC 324.9147 YEN 2.806 Selling:USD 305.9GBP 423.855EURO 375.0946375.0946SWISS FRANC 325.9804YEN 2.8152CNBC COMMODITY PRICES (USD)Crude Oil (Bonny light) $70.44Natural Gas 2.617 (0.065)Gold 1330.00 (3.60) Silver 16.55 (-0.02)Copper 3.1625 (0.076)Wheat 462.50 (-1.50)Coffee 123.95 (0.45)Cotton 76.97 (-0.48)Cocoa 2046.00 (39.00) 
Tuesday , February 20 2018
Home » BUSINESS » We’ll expose tax debtors with bank account data —Adeosun

We’ll expose tax debtors with bank account data —Adeosun

The Minister of Finance, Mrs. Kemi Adeosun, has advised wealthy Nigerians to take advantage of the Voluntary Assets and Income Declaration Scheme to regularise their tax status and escape unsavoury consequences.

The minister said this in Enugu State when the state government hosted officials of VAIDS.

She said the Federal Government had compiled data on property, bank accounts, shareholdings and other income sources of individuals and corporate entities.


According to her, VAIDS was conceived to allow Nigerian companies and individuals to do what is right for the country, Enugu State and the citizens.

Adeosun said, “From our records, there seems to be a few big men and big women from this part of the country, who may need to think very carefully about making a VAIDS declaration.

“We have been compiling data on property, bank accounts, shareholdings and other sources that suggest that many people have not been paying the right taxes. VAIDS is an opportunity to regularise.”

The minister added that huge sums of money had been moved out of Nigeria without the owners paying a kobo in tax.

The event was attended by Governor Ifeanyi Ugwuanyi of Enugu State, members of the state’s executive council, legislature and traditional rulers.

The Chairman of the Federal Inland Revenue Service, Mr. Tunde Fowler, was represented at the event by the Executive Secretary of the Joint Tax Board, Oseni Elamah.

Also present were representatives of the business community in the state. They included the Enugu Chamber of Commerce, Industry and Agriculture; Nsukka Chamber of Commerce, Industry, Mines and Agriculture; bank executives; lawyers; market traders; electronic dealers; hospital owners; school owners and transport owners associations.

Meanwhile, the process of participation in the VAIDS has been made easier for new taxpayers as well as existing ones, who have not been paying appropriate taxes.


According to the VAIDS Office in the Federal Ministry of Finance, the first step for new taxpayers is to apply for a Tax Identification Number, which will be fast-tracked.

Tiny URL for this post:

Share This:

About Author

Leave a Reply

Your email address will not be published. Required fields are marked *