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FG sets up an Inter-Agency Presidential Committee on asset recovery


Nigeria's minister of Information Lai Mohammed AFP PHOTO / PIUS UTOMI EKPEI

Nigeria’s minister of Information Lai Mohammed AFP PHOTO / PIUS UTOMI EKPEI

The federal government has set up an inter-agency Presidential Committee on Asset Recovery (PCAR) as part of its efforts to strengthen the ongoing fight against corruption.

The committee, which was set up on the recommendation of the Presidential Advisory Council Against Corruption, is headed by the Vice President Yemi Osinbajo and would oversight the anti-corruption agenda and coordinate asset recovery process.

Minister of Information and Culture, Alhaji Lai Mohammed, who stated this when he received the Special Representative of the United Nations (UN) Secretary-General for West Africa, Mr. Mohammed Ibn Chambas, in Abuja yesterday, called for the support of the UN in fighting corruption, which he said is as dangerous and devastating as the fight against insecurity

He explained that PCAR is coordinating the collation and categorisation of recovered assets from last year till date, verifying the records and status of physical assets, such as buildings recovered under previous administration and setting up the framework for management of recovered stolen asset to avoid re-looting and mismanagement of asset, as was experienced in the past.

According to him, the committee’s mandate includes the creation of asset register for recovered stolen assets and other government assets to avoid a situation where former or even serving public officers carry away government assets, like vehicles,
computers, etc, sometimes in multiples.

The minister said the federal government was determined to recover all assets illicitly acquired by public officers and other politically exposed persons; hence new measures were underway to enhance recovery
of illegally acquired assets.

To encourage whistle-blowers, the government is also considering an incentive framework for those who provide useful information that leads to recovery of stolen or illegally concealed public assets, he said, adding that government was also soliciting support of Nigerians in the Diaspora and the international non-governmental organisations in the campaign for asset return from foreign governments.

”Just as you (UN) have supported us in the fight against insecurity in the northeast, we need your institutional, technical and diplomatic support in fighting corruption,” Mohammed told Chambas.

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