Reps Launch Probe into Recovered Assets Since 1999

The Nigerian House of Representatives has adopted a motion sponsored by Hon. Ibe Okwara Osonwa to investigate the management of recovered assets since May 29, 1999.

The motion calls for a comprehensive audit and verification of assets held by anti-corruption agencies, security agencies, ministries, departments and agencies (MDAs), regulatory bodies, and the courts. Osonwa referenced Sections 88 and 89 of the 1999 Constitution, which empower the National Assembly to investigate public authorities.

He noted that the Proceeds of Crime Recovery and Management Act, 2022 mandates transparency and accountability in asset management. The assets in question include cash, properties, shares, luxury vehicles, and more, valued in trillions of naira.

The House urged the Federal Government to conduct a thorough audit of all seized and recovered assets. Speaker Abbas Tajudeen indicated that the House would determine the appropriate existing committee to handle the investigation, rather than forming a new ad hoc committee.