The federal government has given
a six-month timeline to a 22-member committee for proper disposal of all
forfeited assets.
Abubakar Malami, attorney-general
of the federation (AGF) and minister of justice, disclosed during the
inauguration of the inter-ministerial committee on federal government of
Nigeria’s forfeited assets, which held in Abuja on Monday.
Malami said President Muhammadu
Buhari had, on October 27, 2020, approved the composition of the committee and
given a six-month time frame for the disposal of all federal government assets.
The AGF noted that “members of
the committee are drawn from the relevant agencies that deal with the recovery
and disposal of federal government of Nigeria’s asset”.
He added that Dayo Apata,
solicitor general of the federation, will chair the committee.
According to Malami, some of the
responsibilities of the committee will include “implementation of provisions of
the ATRM regulations, ensure the transparency of the disposal of federal
government final forfeited assets, ensure the synergy and collaboration between
AGF, law enforcement and anti-corruption agencies, other relevant ministries,
departments and agencies and the non-governmental organisation in the collation
of records of all assets”.
The committee will also “ensure
that information flow on assets are in place, respond to any ongoing asset management
audit and the asset performance reports, consistently implement enablers and
controls that support decision making and efficiency of service delivery which
govern the disposal of assets; and development of targets for the committee in
order to measure its performance”.
“The Asset Tracing, Recovery and
Management Regulations, 2019, the standard operating procedures and terms of
reference are the working tools to serve as guidelines for the
inter-ministerial committee and how best to actualise the quick disposal of the
FGN assets in line with Mr President’s directive,” Malami said.
“Your mandate is to ensure the
expedient disposal of all FGN forfeited assets and generate revenue for the
federal government of Nigeria.
“On this note, I wish to implore
the inter-ministerial committee to work as a formidable team with the relevant
agencies in accordance with extant laws and regulations.
“It is also my hope that the
proceeds from this exercise will be a source of additional revenue for the
country.
“I must, however, warn that the task before
the inter-ministerial committee is an enormous one and must be conducted with
utmost dignity having the interest of Nigeria at heart. Thus, much is expected
from the committee.”
Responding, Apata, who is the
chairman of the committee, gave the assurance that the committee would
discharge its duties with transparency and accountability.
Meanwhile, the Human and
Environmental Development Agenda (HEDA) has since asked Malami to scrap the Asset
Tracing, Recovery and Management Regulations, 2019.
The group said the regulation has
been nullified by a federal high court.
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