Asset recovery regulation not designed to remove your statutory powers, Malami tells EFCC, ICPC

The Attorney-General of the Federation and Minister of Justice, Abubakar Malami (SAN), has assured all the agencies involved in the recovery of Nigeria’s looted funds that the regulation put in place by the Federal Government was not aimed at taking away their statutory powers.

The anti-graft agencies involved in the recovery of the country looted assets stashed abroad are the Economic and Financial Crimes Commission (EFCC) and the Independent Corrupt Practices and Other Related Offences (ICPC).

According to a statement issued by the AGF’s spokesman, Umar Gwandu, Malami stated this on Thursday at the head of agencies sensitization on the implementation of the 2017 – 2021 National Anti-Corruption Strategy (NACS).

The Nigerian government, United States and the Island of Jersey had signed an agreement on the repatriation of $321 million traced the late maximum ruler, Gen. Sani Abacha.

The AGF said the release of the Asset Tracing, Recovery and Management Regulations in October last year was aimed at consolidating overall efforts, attaining synergy and encouraging record centralization.

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He said: “I wish to use this medium to reassure particularly our law enforcement agencies that are directly involved with asset recovery that the essence of the Regulation is in no way intended to take away the statutory powers of any agencies but rather to consolidate these powers by encouraging synergy and also centralize records of proceeds of crime and ensure transparent disposal and management of assets in line with the vision of the administration of President Muhammadu Buhari GCFR.”

He said the purpose of the meeting was to solicit cooperation and collaboration of the pilot Ministries, Departments, and Agencies (MDAs) in the implementation of the NACS.

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