FG to Confiscate 2000 Properties in FCT

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The Federal Government has said it will seize 2,000 properties in the Federal Capital Territory belonging to some firms, who failed to disclose their assets under the Voluntary Assets and Income Declaration Scheme.

Chairman of Federal Inland Revenue Service, Babatunde Fowler said the FIRS planned to secure court orders to sell them off.

He spoke at a media workshop on VAIDS held by the FIRS on Thursday in Abuja.

 “We will sell off the 2,000 properties and give the companies the change after deducting what belongs to the government as tax,” he said.
He stated that about N17bn had been paid by 10 firms since the introduction of VAIDS in July this year.

He called on individuals and organisations to take advantage of the VAIDS and voluntarily declare their assets and income, warning that the FIRS would go after defaulters after March, 2018.


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