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Fed Govt hires asset tracers to go after 150 moneybags

There is no hiding place for tax defaulters. The Federal Government has engaged the services of asset tracing-companies to investigate the tax payment status of 150 firms/individuals.

Minister of Finance Mrs. Kemi Adeosun said yesterday in Lagos that investigators would rely on information derived from Bank Verification Number (BVN),  records of property ownership, records of foreign exchange allocation, and records of company ownership from the Corporate Affairs Commission (CAC), among others, to ascertain the income status of the companies/individuals vis-a-vis their lifestyle.

The minister, who delivered a lecture at PWC’s Business School, with the theme: “Voluntary Assets and Income Declaration Scheme (VAIDS) Interactive Session for Executives and Business Owners” said: “We are using some firms (I will not mention their names)  to trace assets internationally.

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