Senate Queries Transfer Of Forfeited Assets To AGF’s Office
The Nigerian Senate on Monday queried a policy directive that stipulates the transfer of all forfeited assets to the Office of the Attorney General of the Federation.
Senate Committee on Anti-Corruption and Financial Crimes faulted the policy on forfeited assets and recoveries of proceeds of crime and the power granted the AGF’s office to manage same.
A member of the Committee, Senator Abba Moro at the 2022 budget defence raised the query saying it was wrong for the AGF to be the custodian of forfeited assets, which he added, wasn’t the practice anywhere in the world.
The lawmaker submitted that assets recovered should have been sold to generate funds for budget financing, wondering what those assets should be doing in Attorney-General’s office, particularly that the government also spent money to recover the assets.
Earlier, the Director of Finance, Gamma Joda Mohammed who represented the Chairman of the Economic and Financial Commission Commission (EFCC) revealed that the policy that compels the anti-graft agency to transfer recoveries to the AGF’s office has been in existence since 2019.
In his remarks, the Chairman of the Committee on Anti- Corruption and Financial Crimes, Senator Sulaiman Kwari said the EFCC Bill on Asset Management currently before the National Assembly is aimed at addressing the abnormality in the management of the final forfeited assets of crimes.
