REPS INVESTIGATE SEIZED ASSETS BY ANTI-GRAFT AGENCIES
A House of Representatives panel has begun the investigation into recovered assets by several anti-graft agencies in Nigeria.
Reports say, the panel, chaired by Adeogun Adejoroh (APC, Ondo), is to Identify the locations and agencies in charge of the recovered assets.
Also, the panel is to take an inventory of recovered assets both in cash and materials and determine the status of the recovered materials.
The development is coming weeks after the suspension of the acting Chairman of the Economic and Financial Crimes Commission (EFCC), Ibrahim Magu, who was accused of money laundering and corruption, Eons Intelligence reports.
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Magu was accused of failing to give a proper account of 332 out of the 836 properties recovered by the agency prior to 2018.
The Presidential Committee on Audit of Recovered Assets (PCARA) also accused the former acting Chairman of the anti-graft agency for wastage and deterioration of physical assets including landed property, cars and vessels.
However, Magu denied all allegations levelled against him, which led to his release on Wednesday, July 15, after spending 10 days in detention.
Speaking at the House committee’s inaugural hearing last week, the chairman of the committee said the House of Reps is embarking on this investigation with a view to intensifying the ongoing investigation.
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“The nation is going through economic challenges as sources of revenue has reduced, yet it has valuable assets that were recovered from the proceeds of crime.
“Government agencies are paying billions of Naira as rent whereas houses recovered and forfeited to government from proceeds of crime are wasting away.”
“Hundreds of millions are used to acquire cars whereas thousands of seized cars and recovered automobiles are wasting away at the parking lots of police, customs, NDLEA, EFCC and ICPC formations.”
The Chairman added that the aim of the investigation is to get an accurate account of recovered assets and also introduce appropriate legislation that would make the management of recovered assets cost and operationally efficient, transparent, accountable to the people.
The committee is expected to continue its sitting this week.
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