VAIDS is not amnesty for looters – Adeosu

Minister of finance, Mrs Kemi Adeosun, has said the voluntary assets and income declaration scheme (VAIDS) has nothing to do with the bill before the national assembly seeking amnesty for looters.

Speaking at the VAIDS interactive session for executive business owners hosted by PwC in Lagos on Thursday, Adeosun said the bill was not from the executive but from the legislative arm of government.

She said the position of the President Muhammadu Buhari-led administration is clear on looters, stating that VAIDS is all about taxes not treasury looting.

“The bill is a legislative bill; you know there are two types of bill, the executive bill and the legislative bill. I believe the bill is being sponsored by the legislative.

“This is not the priority or focus of the executive. Our view on treasury looters is very clear in how we are trying to recover money, and how we are prosecuting where we find there has been an offence. VAIDS has nothing to do with treasury looting.

“VAIDS is about regularisation of tax status. It is not an amnesty for anybody that has stolen money in any form. It is an amnesty for those who have underpaid their taxes, maybe not been as organised as they could have been; there is no connection.

Abiodun Oyindamola, with Agency report