FG proposes Switzerland-based Nigeria infrastructure fund

FG proposes Switzerland-based Nigeria infrastructure fund 1



The Attorney-General of the Federation and Minister of Justice, Abubakar Malami, has announced the Federal Government’s plan to bridge the nation’s infrastructure deficit with the proceeds from a proposed Nigeria Infrastructure Fund to be established in Switzerland.

He said this at the unveiling ceremony of the Voluntary Offshore Assets Regularization Scheme held yesterday in Abuja.

According to him, the fund would be an investment facility with minimal contribution from prospective international investors, as well as Nigerians with offshore assets and foreign-sourced incomes.

He explained that, from the funds voluntarily declared, the Federal Government would deduct 35 percent, while about 63 percent remaining would be “registered in the system to become taxable in Nigeria.