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Nigerian govt traces forfeited assets to 25 locations

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The Federal Government on Tuesday confirmed the discovery of forfeited assets in 25 different locations in the country.

The assets include landed properties, plants, machinery, vehicles, electronics, furniture and equipment, water vessels, jewelry, ornaments, and clothing materials.

The Solicitor-General of the Federation, Dayo Apata, who disclosed this at a media briefing in Abuja, said the assets were recovered from alleged treasury looters and forfeited to the government on the order of different courts.

He said the Inter-Ministerial Committee on the Disposal of Assets Forfeited was still updating the list of assets that have been finally forfeited to the government and would make an announcement on the matter soon.

Apata, who is also the Chairman of the Committee, said the team has embarked on onsite verification and auditing of the forfeited assets to confirm their existence and to ascertain their current state.

He noted the committee has been working assiduously to complete its assignment within the six-month time frame.

The committee was inaugurated on November 9, 2020.

READ ALSO: Nigerian govt inaugurates committee to dispose forfeited assets

The solicitor-general pointed out that the committee would be guided by the Asset Tracing, Recovery and Management Regulations, 2019, Standard Operating Procedures (SOP), and its Terms of Reference (TOR).

He said: “The regulations were made pursuant to extant laws of the relevant agencies with a view to ensuring transparency, accountability, and synergy in the management and sale of forfeited assets.

“The committee will also be guided by the Public Procurement Act, 2007, and all relevant extant rules and regulations.

“Since the inauguration, the committee has held several meetings and consultations and has worked assiduously to develop its work plan, templates, strategies, and modalities, in line with relevant laws and regulations, to aid it in the discharge of its mandate within the set time limit.”

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