Forfeited Assets: FG Order Disposal Within 6 Months

The AGF directed the committee to conduct a thorough investigation, tracing, seizure, and subsequent disposal of all stolen, illegally acquired assets and proceeds of crime in accordance with the Asset Tracing, Recovery and Management Regulations 2019 issued by his office.

Malami revealed the panel was set up in response to President Buhari directive of October 2018 as recommended by the Presidential Audit Committee on Recovery and Management of Stolen Assets as required to effectively recover assets in an interim measure pending when the Bill on Proceeds of Crime will be passed.

He informed the committee of their responsibilities to include, implementation of the provisions of the Assets Tracing Recovery and Management Regulation, ensure transparency of the disposal of the forfeited assets, keeping a proper collaboration between the office of the AGF and the security agencies and other relevant MDAs and non-governmental organization in the compilation of the records of all the intended assets.

Another responsibility of the committee is to ensure information flow on assets; respond to ongoing Asset Management Audit and the asset performance reports; consistently implement enablers and controls that support decision making and efficiency of service delivery which govern the disposal of assets, and development of targets for the committee in order to measure performance.

Meanwhile, Dayo Apata, the chairman of the committee and a permanent Secretary in the Federal Ministry of Justice described the event as “Another milestone in the new frontiers being charted by the AGF beyond the conventional responsibilities of prosecution, defending or representing by the federal government and its MDAs in litigations and proffering legal opinion.”