President Bola Ahmed Tinubu has assured Nigerians of his administration’s unwavering commitment to the fight against corruption and related crimes.
He pledged not only to sustain ongoing efforts but to also enhance existing anti-graft initiatives by encouraging improved deployment of technology and strengthening the capacity of the various anti-corruption agencies.
President Tinubu spoke yesterday in Abuja at a summit on asset recovery with the theme: Synergising Towards An Effective Assets Recovery and Management, organised by the Federal Ministry of Justice.
Represented by the Permanent Secretary in the Office of the Secretary to the Government of the Federation (SGF), Nadungu Gagare, President Tinubu said the Federal Government remained resolute in its efforts to recover stolen assets and ensure the people’s wealth is deployed for their benefit.
He said: “Our resolve as a government to fight corruption is unwavering and unshakable. We are pleading with our development partners to join us in this journey to rid our society of corruption.
“Let us work together with steadfast determination to build a Nigeria and a world where integrity triumphs over impunity and justice prevails over greed.
“As we converge here today, it is essential to acknowledge the profound impact that corruption has had on our society.
“In Nigeria, we have witnessed the devastating effects of corruption on healthcare, education, and infrastructure.” The consequences of misappropriated public funds are painfully evident.
“Corruption weakens our institutions, erodes trust in governance, and deprives our people, especially the vulnerable, of the services and opportunities they deserve.
“Asset recovery sends a clear signal and unwavering message that there will be no safe haven for corruption in Nigeria.
“It serves as a deterrent, a symbol of accountability, and a practical tool to rebuild national confidence in public institutions.”
President Tinubu noted that technology and innovation are critical to improving asset traceability, preventing the concealment of illicit funds, and facilitating cross-border cooperation.
He unveiled two key initiatives aimed at enhancing transparency and accountability in asset recovery. The first is the Proceeds of Crime (Standardised Automated Asset Forfeiture Management System) Regulations, 2024, which establishes a technology-driven, streamlined system to efficiently manage forfeited assets. The second is the National Central Database of Forfeited and Recovered Assets, created under Section 81(1) of the Proceeds of Crime (Recovery and Management) Act, 2022.
It was learnt that the platform, which is intended to warehouse records of recovered assets and concluded recovery efforts, will be accessible to the public, allowing for greater transparency and citizen oversight.
The Attorney General of the Federation (AGF) and Justice Minister Lateef Fagbemi (SAN) regretted the negative impact of corruption and related crimes on the nation’s quest for development.
The minister highlighted the various successes recorded so far in the recovery of looted public assets and assured of his ministry’s resolve not to waver in its commitment in that regard.
He said: “I make bold to say that the Federal Ministry of Justice (through its Assets Recovery & Management Unit), Anti-Corruption and Law Enforcement Agencies (the EFCC, ICPC, NDLEA, NFIU, Police) and some other relevant organisations actively involved in the recovery of assets, have performed creditably very well in the discharge of their mandates, which has led to successful recoveries and repatriations of assets or proceeds of crime, from both within and outside Nigeria.
“But there is still room for improvement. In 2024 alone, the Economic and Financial Crimes Commission (EFCC) is reported to have reclaimed over N248 billion, $105 million, and 753 duplexes in its asset recovery efforts.
“The Independent Corrupt Practices and Other Related Offences Commission (ICPC) is also reported to have recovered N29.685 billion in cash and $966,900 in assets.
“The National Drug Law Enforcement Agency (NDLEA) has equally intensified its efforts in seizing assets linked to drug-related crimes, ensuring that illicit proceeds do not fuel further criminal activities.
“Nigeria has successfully repatriated significant funds from abroad, reinforcing our commitment to financial accountability.”
Credit: thenationonlineng.net
