Reps order probe of recovered assets since 1999


 By

Joshua Bilkisu Swatkasah 



The House of Representatives has resolved to investigate all seized, forfeited, recovered and repatriated assets managed by government institutions since 1999, citing concerns over transparency, accountability and poor record-keeping. The resolution followed the adoption of a motion sponsored by Hon. Ibe Okwara Osonwa, who called for a comprehensive audit of assets held by anti-corruption agencies, security agencies, ministries, departments and agencies, regulatory bodies and the courts.


Osonwa said the 1999 Constitution empowers the National Assembly to investigate the management of public assets, while the Proceeds of Crime Recovery and Management Act, 2022 provides the legal framework for tracing, recovering, managing and disposing of proceeds of crime. He noted that assets recovered over the years—including cash, landed properties, shares, petroleum assets, luxury vehicles, vessels, aircraft and digital assets—are worth trillions of naira.


Following the motion's adoption, the House urged the Federal Government to conduct a comprehensive audit of all recovered assets from May 29, 1999, to date. However, Speaker Abbas Tajudeen ruled against the immediate creation of a new ad hoc committee, stating that existing standing committees could handle the assignment, with a final decision on the appropriate committee to be made by the House.



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