Disposal of forfeited assets must be in national interest, says Malami

Attorney General of the Federation (AGF) and Minister of Justice, Abubakar Malami, has warned that the interest of the country must be given priority as the Federal Government begins the disposal of assets forfeited to it in corruption-related cases.

Malami at the inauguration of the 22-member inter-ministerial committee on disposal of the assets, in Abuja, yesterday, charged the committee to work with relevant agencies with the aim that proceeds from the exercise would  be a source of additional revenue for the country.

He charged the committee which had six months to complete its assignment to ensure that they conduct their assignment “with utmost dignity having the interest of Nigeria at heart.”

“The Asset Tracing, Recovery and Management Regulations, 2019, the Standard Operating Procedures and Terms of Reference are the working tools to serve as your guideline.

Your mandate is to ensure the expedient disposal of all forfeited assets and generate revenue for the Federal Government. I implore the Inter-Ministerial Committee to work as a formidable team with 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 Committee is an enormous one and must be conducted with utmost dignity having the interest of Nigeria at heart.”

President Muhammadu Buhari approved the composition of the committee drawn from the relevant agencies that deal with the recovery and disposal of Federal Government of Nigeria’s assets on October 27.

The committee has the Solicitor General of the Federation and Permanent Secretary Federal Ministry of Justice, Dayo Apata as its Chairman and Asset Tracing, Recovery and Management Unit under the Office of the Attorney General of the Federation and Minister of Justice, as  secretary.

 

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