LAST_UPDATESun, 24 Jun 2018 9pm

Angolan Govt Giving Citizens 180 Days To Repatriate Funds Stashed Overseas

LUANDA -- The Governor of the National Reserve Bank of Angola (BNA), José de Lima Massano, says the Angolan government will grant 180 days to national citizens to repatriate financial resources which they have illicitly parked abroad.

The countdown to the 180-day deadline will begin once the document providing for the funds repatriation which has been submitted to the National Assembly for approval is approved and published in the State Gazette.

Speaking to journalists on the sidelines of the firstt Ordinary Session of the Council of Ministers (Cabinet) here Wednesday, the central bank Governor warned that in cases where illicit resources are not repatriated within the period in question, the national authorities will make use of all available means to recover the funds.

The objective of this measure is to ensure that, in accordance with the law, the repatriation of the financial amounts to the country.

The Bill aims to allow resident nationals and companies based in the country which have financial resources abroad to repatriate them on a voluntary basis.