House of Reps summons agencies for asset management probe

The House of Representatives has summoned five security and regulatory agencies to appear before its Sub-Committee on Public Assets regarding the management of seized, forfeited, and recovered assets in Nigeria. The agencies include the Nigerian Navy, Nigeria Police Force, Nigeria Customs Service, Nigeria Immigration Service, and the Nigerian Midstream and Downstream Petroleum Regulatory Authority.

They are expected to present information on their roles in asset recovery, custody, management, and disposal on November 2, 2026. Hon. Ibe Okwara Osonwa (Rep, Arochukwu/Ohafia), the Chairman of the sub-committee, emphasized the need for transparency and accountability in handling seized properties, citing persistent concerns over coordination among agencies and documentation practices.

The investigation aims to establish a verifiable record of assets and their current status, as well as to propose a unified digital registry for better record-keeping. Osonwa stated that the sub-committee would also recommend reforms to strengthen oversight and align asset management with best practices.