FG Begins Disposal Of Forfeited Assets In 25 Locations

The Federal government on Tuesday said it has commenced the process of disposing final forfeited assets currently situated in 25 locations across the country.
Chairman of the Inter ministerial committee on the disposal of federal government of Nigeria forfeited assets and Solicitor-General of the Federation, Dayo Apata (SAN), who disclosed this to newsmen in Abuja, stated that the committee had collated and was still updating all forfeited assets to the federal government. 

 While he did not give 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. 

 According to him, the forfeited assets included landed properties, plants, machinery, motor vehicles, electronics, furniture, water vessels, jewelry, ornaments and clothing materials.

 Apata, however, emphasised that assets been disposed were those that had been finally fortified to the government.

 “We are still receiving details and assets from the Economic and Financial Crimes Commission, Independent Corrupt Practices (and other related offences) Commission, Navy, and other agencies,” Apata said. 

 “We are still collating these assets and those that have been finally fortified are those the committee can dispose off so that we don’t infringe on rights of individuals who have gone to court contesting the confiscation of their assets.”

 The Solicitor-General said the panel would publish the list of assets and engage valuers and auctioneers as part of the process in the disposal of assets forfeited to the government. 

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

 Apata said the committee is working assiduously to complete its assignment within the six months time frame as spelt out in the presidential directive. 

 He said the panel would ensure government receives adequate value for forfeited assets while also ensuring that assets are not misappropriated. 

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

 The minister while inaugurating the 22-member committee said that the initiative was borne out of the president’s directive in October 2018 following recommendations of the Presidential Audit Committee on Recovery and Management of Stolen Assets and a need for efficient management of the assets. 

Members of the committee included the representatives of the Office of the Chief of Staff to the President; the Federal Ministry of Justice; Federal Ministry of Finance; Federal Ministry of Works and Housing, Auditor-General of the Federation, Economic and Financial Crimes Commission, Independent Corrupt Practices (and other related offences) Commission.

 They also include the representatives of Nigerian Army, Nigerian Navy, Nigeria Police, Nigeria Security Civil Defence Corps, Nigerian Maritime Administration and Safety Agency, Department of State Security, National Drug Law Enforcement Agency, Department of Petroleum Resources, National Oil Spillage, Detection and Response Agency, Bureau of Public Procurement, and the Civil Society Organisation.

 Others are youth representatives, the media, and other industries included by the Attorney General of the Federation.

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