Reps Demand Audit of Federal Assets Since 1999

On Tuesday, the House of Representatives in Nigeria adopted a resolution calling for a comprehensive audit of all assets seized, forfeited, recovered, managed, disposed of, or repatriated by government agencies since May 29, 1999. This motion was sponsored by Hon. Ibe Osonwa, who expressed concerns about the absence of a centralized database for recovered assets.

He highlighted that weak documentation and oversight mechanisms have hindered the tracking of these assets' value, location, management, and utilization. Hon. Osonwa referenced the Proceeds of Crime (Recovery and Management) Act, 2022, which outlines the framework for managing proceeds of crime.

He commended various agencies for their efforts in asset recovery but noted the lack of a unified national register. The House urged the Federal Government to establish a comprehensive digital registry to enhance accountability and coordination among government institutions.

The resolution aims to ensure a nationwide audit and verification of all relevant assets from 1999 to the present.