Reps Demand Nationwide Audit Of Recovered Assets Since 1999

The House of Representatives has called for a comprehensive audit of all assets seized, forfeited, recovered, managed, disposed of or repatriated by government institutions since Nigeria returned to democratic rule in 1999.

The resolution followed a motion adopted by the lawmakers during plenary, where concerns were raised over the need to establish a clear record of recovered assets and ensure proper accountability in their management.

The House urged the Federal Government to conduct a thorough verification of assets recovered by Ministries, Departments and Agencies (MDAs), anti corruption agencies, security institutions and courts from May 29, 1999, to date.

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The lawmakers expressed concerns that despite several announcements of asset recoveries by successive administrations, there was limited public information on the exact value of recovered properties, their current status and how they had been utilised.

The motion, sponsored by Hon. Ibe Okwara Osonwa, representing Arochukwu/Ohafia Federal Constituency of Abia State, stressed the importance of transparency in the management of public resources recovered through corruption cases and legal forfeiture processes.

The House also pushed for the creation of a digital national asset recovery and management registry that would provide a central database for tracking recovered assets and improving oversight.

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According to the lawmakers, a proper registry would help government agencies monitor recovered assets, prevent mismanagement and provide Nigerians with clearer information about the outcome of anti corruption efforts.

Nigeria has recovered several assets, including cash, properties and other valuables, from corruption investigations carried out by different administrations, but questions have repeatedly emerged over the transparency of the recovery and disposal processes.

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The House said the proposed audit would help determine the total assets recovered since 1999, the agencies responsible for managing them, the proceeds generated and whether they were applied for public benefit.

The lawmakers maintained that accountability in asset recovery was critical to strengthening public trust and ensuring that recovered resources contribute to national development rather than becoming another source of controversy.

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