President MUHAMMADU BUHARI has signed a new executive order which among other things compels Nigerians with offshore assets and incomes to pay taxes on them.

The Executive Order (008), tagged Voluntary Offshore Assets Regularisation Scheme (VOARS), was signed by the President on Monday and takes effect from the same day according to the Presidency.

A statement by the Senior Special Assistant to the President on Media and Publicity, GARBA SHEHU said with the order, the Buhari administration is tightening regulations on money laundering and tax evasion.

He disclosed the President is however, optimistic that the new scheme will help to facilitate the expedient regularisation of offshore assets connected to Nigeria and lead to “a new expanded tax base to fund the Nigeria Infrastructure Fund in Switzerland”.

The Socio-Economic Rights and Accountability Project (SERAP) has said the order banning 50 alleged high-profile corrupt Nigerians from travelling abroad is clearly arbitrary, repressive and illegal.

According to the group, the presidential action is a breach of constitutional rights and the country’s international obligations, which protects the rights to freedom of movement, to leave one’s country, to privacy, and to due process of law.

SERAP in a statement today signed by its deputy director, TIMOTHY ADEWALE, said the travel ban will play right into the hands of high-profile corrupt officials by feeding into the narrative that the fight against corruption is targeted only at political opponents.

Presidential spokesman, GARBA SHEHU, yesterday announced the placement of 50 high-profile Nigerians on travel ban, citing the measure as part of the implementation of Presidential Executive Order number 6.

The unnamed individuals will be banned from travelling outside the country pending the determination of their corruption cases in order to ensure that all assets within a minimum value of 50 million naira or equivalent, are not dissipated or tampered with.

But SERAP says rather than imposing a travel ban, the authorities should take advantage of the provisions of the UN Convention against corruption to seek mutual legal assistance with countries where investigations and litigation are ongoing by requesting them to apply preventive measures regarding assets covered by the travel ban.

The Peoples Democratic Party has rejected the travel ban, saying the action was an attempt by the Presidency to foist what it called a full-blown fascism on the country.

The opposition party believes the step is targeted at its members, perceived political enemies of President MUHAMMADU BUHARI, well-meaning Nigerians, including members of the business community, religious leaders, former political leaders and traditional rulers, who are perceived to be averse to President BUHARI’s re-election bid.”

The National Publicity Secretary of the PDP, Mr. KOLA OLOGBONDIYAN, said in a statement in Abuja, “this ‘decree’ is a direct clampdown on our democratic order and an overthrow of the rights of our citizenry as guaranteed by the 1999 Constitution (as amended),”

Former Anambra State Governor, PETER OBI, has commended the Peoples Democratic Party, PDP, Presidential candidate, ATIKU ABUBAKAR, for picking him as his running mate.

ABUBAKAR on Friday confirmed OBI as his running mate after both men met at the former VP’s home in Abuja to hold talks.

Reacting to his selection on his Twitter handle, the former governor promised to work closely with ABUBAKAR, and vowed to ensure that their administration, if voted into power was far away from anything called “lifeless”.

The Director General of the Atiku Abubakar Presidential Campaign Organisation, GBENGA DANIEL in a statement said OBI’s choice was largely influenced by his youthfulness, vast knowledge of global and local economics, as well as being a financial expert.

GBENGA said the ticket will be able to steer the nation back on the path of progress, economic prosperity and unity.