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The Federal Government Tuesday announced that water vessels, landed properties, and motor vehicles are among the forfeited items that were recovered from alleged treasury looters on the order of courts.
The assets that were successfully traced to 25 different locations across the country also include jewellery, plants, machinery, motor vehicles, electronics, furniture and equipment, ornaments, as well as clothing materials and which the Inter-Ministerial Committee on the Disposal of Assets Forfeited, “is still updating the list of assets that have been finally forfeited to the Federal Government of Nigeria, according to the Solicitor-General of the Federation, SGF, and Permanent Secretary of the Federal Ministry of Justice, Dayo Apata.
Apata said the Committee which is under his chairmanship of the Attorney General of the Federation, has embarked on onsite verification/auditing of the forfeited assets to confirm their existence and to ascertain their current state.
He said the committee which was inaugurated on November 9, 2020, and, working assiduously to complete its assignment within the six months time frame that was handed to it through a presidential directive dated October 27, 2020, is being guided by the Asset Tracing, Recovery and Management Regulations, 2019, Standard Operating Procedures (SOP) and its Terms of Reference (TOR).
“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.
“The Committee holds sacred the twin features of transparency and accountability paramount in the discharge of this monumental national assignment of disposing of assets forfeited to the government.
“It is worth restating that parts of the goals for which Mr. President gave the go-ahead for the setting-up of this Committee include the need to put an end to poor management and wastage of assets which prevents the government from realizing the full benefits of the forfeiture.
“The Committee remains highly committed to ensuring a radical departure from the past by ensuring that government receives adequate value for forfeited assets and also to ensure that the assets are neither misappropriated nor mismanaged, but are dealt with for public good”, Apata added.
BADEJO ADEMUYIWA has 23 years experience as a Finance Writer, specialising in Insurance and Investigative Reporting.
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