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FG Traces Forfeited Assets in 25 Locations in Nigeria

ByCitizen NewsNG

Feb 2, 2021

 

The Federal Government, has on Tuesday, disclosed that it has successfully traced forfeited assets that are currently situated in 25 different locations in the country. This was disclosed by the Solicitor-General of the Federation, SGF, and Permanent Secretary of the Federal Ministry of Justice, Dayo Apata, SAN, while addressing newsmen in Abuja on Tuesday, said the Inter-Ministerial Committee on the Disposal of Assets Forfeited, “is still updating the list of assets that have been finally forfeited to the Federal Government of Nigeria”. The assets include landed properties, plants, machinery, motor vehicles, electronics, furniture and equipment, water vessels, jewelry, ornaments, as well as clothing materials. The assets were said to have been recovered from alleged treasury looters and forfeited to the government on the order of court Apata said the Committee which is under his chairmanship, has embarked on onsite verification/auditing of the forfeited assets to confirm their existence and to ascertain their current state. He said the committee which was inaugurated on November 9, 2020, is working assiduously to complete its assignment within the six months time frame that was handed to it through a presidential directive dated October 27, 2020. The SGF said the Inter-Ministerial Committee would be guided by the Asset Tracing, Recovery and Management Regulations, 2019, Standard Operating Procedures (SOP), and its Terms of Reference (TOR). “The regulations were made pursuant to extant laws of the relevant agencies with a view to ensuring transparency, accountability, and synergy in the management and sale of forfeited assets “The Committee will also be guided by the Public Procurement Act, 2007, and all relevant extant rules and regulations.

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