Nigerians who have properties abroad and refusing to pay taxes on them risk prosecution by Federal Government.

The Minister of Justice, ABUBAKAR MALAMI (SAN), who gave this hint also said that any bank or intermediary that helped a Nigerian citizen to shield such properties would pay a fine equivalent of the cost of the property.

MALAMI in a statement signed by his Spokesman, UMAR GWANDU, explained that the federal government is effecting the action based on the Executive Order 008 as amended.

The order, which operates through the Voluntary Offshore Assets Regularisation Scheme, is targeted at Nigerian citizens resident in Nigeria but own properties in foreign jurisdictions.

The AGF said that in order to ensure seamless exchange of information, the scheme would work closely with the Nigeria Financial Intelligence Unit.