Nigeria: FG tracing funds to foreign counrties


The Minister of Finance, Mrs. Kemi Adeosun, on Friday, said the Federal Government had drawn in a worldwide investigative office to follow unlawful assets starting from Nigeria to various parts of the world.

She stated, “We have only 40 million dynamic citizens out of an expected 69.9 million, who are financially dynamic in Nigeria. What’s more, of that 40 million, the dominant part are PAYE (Pay As You Earn), that is, the individuals who have their expense deducted at source.

“Among the individuals who are notwithstanding paying assessments, there is boundless misbehavior that outcomes in just piece of the genuine wage being subjected to charge.”

“These practices hurt Nigerians and must stop,” said the minister, who portrayed the country’s expense to Gross Domestic Product proportion of six percent as one of the most reduced levels on the planet.