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FG inaugurates panel to dispose off recovered looted assets

The Federal Government has inaugurated a committee to sell off both movable and immovable looted assets recovered so far through the anti-corruption efforts of the Muhammadu Buhari administration.

The Attorney General of the Federation (AGF) and Minister of Justice, Abubakar Malami, while inaugurating the 22-member committee in Abuja on Monday, urged its members not to betray the trust placed on them by the government.

Malami said members of the committee, tagged: “The inter-ministerial committee on the disposal of Federal Government of Nigeria’s forfeited assets,” are drawn from relevant agencies that deal with the recovery and disposal of Federal Government of Nigeria’s assets.”

The AGF urged the committee to deploy “the Asset Tracing, Recovery and Management Regulations, 2019, the Standard Operating Procedures and Terms of Reference” as its working tools and guide on how best to actualise the quick disposal of the recovered assets in line with the directive of the President.

“Your mandate is to ensure the expedient disposal of all FGN Forfeited Assets and generate revenue for the Federal Government of Nigeria.

“I wish to implore the inter-ministerial committee to work as a formidable team with the relevant agencies in accordance with extant laws and regulations.

“It is also my hope that the proceeds from this exercise will be a source of additional revenue for the country.

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