FG seeking greater control over stolen assets

Written by on October 14, 2020

The Federal Government has approached the National Assembly for more powers to freeze and seize stolen public funds and assets.

The President in a letter to the House of Representatives, which the Speaker, Femi Gbajabiamila, read at the plenary on Wednesday, sought creation of a Proceeds of Crime (Recovery and Management) Agency.

In the letter dated October 6, 2020, Buhari noted that the bill seeking to establish the agency was presented to the Federal Executive Council on September 16, 2020, and was subsequently approved tor transmission to the National Assembly.

The letter partly read, “Please recall that this bill was passed by the National Assembly in 2019 but was not granted assent due to some issues that were identified during the review.

“This bill will also address the problem of lack of transparency, accountability and lack of credible records associated with the current procedure in the management of recovered funds by anti-corruption agencies and other institutions in Nigeria.”


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