House Of Reps Warn EFCC Against Selling Assets To Looters

House Of Reps Warn EFCC Against Selling Assets To Looters

The House of Representatives Ad Hoc Committee on Assessment and Status of All Recovered Loot Movable and Immovable Assets from 2002 to 2020 by Agencies of the Federal Government of Nigeria for Effective Efficient Management and Utilisation has urged the Economic and Financial Crimes Commission to prevent looters from recovering their loot in the ongoing auction of seized and forfeited assets.

The committee’s Chairman, Adejoro Adeogun, while noting that his panel had earlier recommended speedy disposal of recovered loot, especially fixed assets, expressed the possibility of looters recovering the forfeited assets by proxy.

Adeogun, however, stated that the committee would continue with its investigation despite the sales.

The EFCC on December 6, 2022, commenced inspection and auction of 649 forfeited vehicles located across nine states and the Federal Capital Territory through appointed auctioneers.

Other assets listed for auction were 15 vessels and barges in Rivers, Delta and Lagos states, about 39 mobile phones, 11 laptops and other devices.

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In an exclusive reports by PUNCH on December 27, 2022, the EFCC had listed for auction 144 luxury houses and lands seized from convicted politicians, public servants, business moguls and internet fraudsters as proceeds of their corrupt practices ranging from money laundering and fraud to misappropriation of funds and fraudulent diversion, among others.

In an interview with Punch correspondent on Tuesday, Adeogun however, decried that the House does not have the powers to determine how the assets should be disposed of, or to whom they should be sold.