Reps probe EFCC over seized assets

The House of Representatives is investigating the Economic and Financial Crimes Commission (EFCC) to ascertain if due processwas followed in seizing assets of alleged corrupt individuals.

The House, while adopting a motion by Rep Babajimi Benson (APC, Lagos), said the EFCC maintains dump sites in various parts of the country where it keeps movable assets, while immovable assets are sealed off by the commission.

The lawmakers also urged all ministries, departments and agencies (MDAs) to operate current assets registers in their domains.

The House said most of the seized assets by the EFCC have been kept at the dump sites for several years, while some are already at various stages of decay, saying it was “convinced of the need to avoid this needless waste of recovered properties, which would otherwise have yielded some much needed revenues to the national treasury.”

The acting chairman of the commission, Ibrahim Magu, had last month said they have recovered assets worth N102.9 billion, $8.296 million, £29,155, 117,004 Canadian Dollars, 806.50 Dirhams and 2000 Rupees as well as secured 135 convictions in 2016.

He said the commission also got 25 interim forfeiture orders and that five final forfeiture orders were entered in its favour.

The House mandated its committee on financial crimes to carry out an audit of car dumps and inventory of other movable and immovable forfeited assets seized by the commission.

The committee would also ascertain the legality of the forfeiture, their conditions and current values of the assets and make appropriate recommendations to the House on how to prevent further decay and waste within six weeks.


Related posts