Wednesday, January 20, 2016

PMB signs agreement with the UAE to return all looted funds.

The agreements were essentially on trade, finance and judicial matters.
While the agreement on trade was to promote investments and business dealings amongst the two countries, the judicial bilateral agreement would also enable the country to extradite, or transfer sentenced persons.
The signing of the agreement in Abu Dhabi was witnessed by President Buhari and the Crown Prince of the United Arab Emirates, Sheikh Mohammed Bin Zayed Al Nahyan.
A statement by the special adviser to the President on media and publicity, Mr. Femi Adesina from UAE stated that Nigeria’s Ministers of finance, Trade/Investment, and Justice singed the respective agreements on behalf of Nigeria’s government.

“Nigeria’s Minister of Finance, Mrs Kemi Adeosun and the UAE Minister of State for Financial Affairs, Obaid Attayar signed the Avoidance of Double Taxation Agreement, while the Minister of Trade and Investment, Mr Okechukwu Enelamah signed the Agreement on Trade Promotion and Protection with the UAE Minister of State for Financial Affairs.

“The Minister of Justice, Abubakar Malami and his counterpart in the United Arab Emirates, Sultan Bin Saeed Albadi signed the Judicial Agreements on Extradition,Transfer of Sentenced Persons, Mutual Legal Assistance on
Criminal Matters, and Mutual Legal Assistance on Criminal and Commercial Matters, which includes the recovery and repatriation of stolen wealth”, the statement said.

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