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FG begins disposal of forfeited assets in 25 locations


Chairman, Inter-Ministerial Committee on Disposal of Federal Government Forfeited Assets Dayo Apata (SAN) has disclosed that it has commenced the process of disposing forfeited assets in 25 locations across the country.

Apata, who is also Solicitor-General of the Federation, disclosed this in Abuja yesterday, saying the committee had collated all forfeited assets and was updating the outcome to the Federal Government.

While declining details of the locations, Apata explained that the team would embark on an on-site verification and auditing of the assets to confirm their existence and current state.


He said the forfeited assets include landed property, plants, machinery, vehicles, electronics, furniture, water vessels, jewelries, ornaments and clothing materials, stressing that assets being disposed were those already fortified to government.

“We are still receiving details and assets from the Economic and Financial Crimes Commission (EFCC), Independent Corrupt Practices and other Related Offences Commission (ICPC), the Nigerian Navy and other government agencies.

“We are still collating the assets and those that have been finally fortified will be disposed off so that we don’t infringe on rights of individuals who have gone to court contesting the confiscation of their assets,” he stated.

He said the panel would engage valuers and auctioneers in the disposal process, adding that the list of assets would also be published in national dailies accordingly.

“Interested persons and firms are encouraged to look out for the publication and make submissions in the required format and within specified timelines,” he said.

Apata noted that the committee would ensure that it completes its assignment within the six-month timeline, as spelt out in the presidential directive, adding that it would ensure government receives adequate value for forfeited assets while ensuring that assets are not misappropriated nor mismanaged.


The Guardian recalled that Attorney-General of the Federation and Minister of Justice, Abubakar Malami (SAN) inaugurated a 22-member committee last year with a six-month mandate to sell all forfeited assets to the Federal Government.

While inaugurating the committee, he said the initiative was borne out of President Muhammadu Buhari’s directive in October 2018 following recommendations of the Presidential Audit Committee on Recovery and Management of Stolen Assets and the need for their efficient management.

Members of the committee included the representatives of the Office of the Chief of Staff to the President, ministries of Justice, Finance, Works and Housing, Auditor-General of the Federation, EFCC and ICPC.

Others are, representatives of the Nigerian Army, Nigerian Navy, Nigeria Police, Nigeria Security Civil Defence Corps (NSCDC), Nigerian Maritime Administration and Safety Agency (NIMASA), Department of State Security (DSS), National Drug Law Enforcement Agency (NDLEA), Department of Petroleum Resources (DPR), National Oil Spillage, Detection and Response Agency (NOSDRA), Bureau of Public Procurement (BPP) and Civil Society Organisations (CSOs).


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