Nigeria announced it has signed a double taxation treaty on Trade, Finance and Judicial Matters with the United Arab Emirates. The treaty also includes Avoidance of Double Taxation; Trade Promotion and Protection; Judicial Agreements on Extradition, Transfer of Sentenced Persons; Mutual Legal Assistance on Criminal Matters; and Mutual Legal Assistance on Criminal and Commercial Matters, which includes the recovery and repatriation of stolen wealth.
It is not clear how Nigeria intends to benefit from this because the United Arab Emirates does not have an income tax law. Thus how Nigeria intends to benefit from this in the near to medium term treaty is quite unclear.
The National Assembly will still be required to ratify this treaty before it becomes law.