Add news
March 2010
April 2010
May 2010June 2010July 2010
August 2010
September 2010October 2010
November 2010
December 2010
January 2011
February 2011March 2011April 2011May 2011June 2011July 2011August 2011September 2011October 2011November 2011December 2011January 2012February 2012March 2012April 2012May 2012June 2012July 2012August 2012September 2012October 2012November 2012December 2012January 2013February 2013March 2013April 2013May 2013June 2013July 2013August 2013September 2013October 2013November 2013December 2013January 2014February 2014March 2014April 2014May 2014June 2014July 2014August 2014September 2014October 2014November 2014December 2014January 2015February 2015March 2015April 2015May 2015June 2015July 2015August 2015September 2015October 2015November 2015December 2015January 2016February 2016March 2016April 2016May 2016June 2016July 2016August 2016September 2016October 2016November 2016December 2016January 2017February 2017March 2017April 2017May 2017June 2017July 2017August 2017September 2017October 2017November 2017December 2017January 2018February 2018March 2018April 2018May 2018June 2018July 2018August 2018September 2018October 2018November 2018December 2018January 2019February 2019March 2019April 2019May 2019June 2019July 2019August 2019September 2019October 2019November 2019December 2019January 2020February 2020March 2020April 2020May 2020June 2020July 2020August 2020September 2020October 2020November 2020December 2020
12
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
News Every Day |

Sale of forfeited assets

forfeited assets

PRESIDENT Muhammadu Buhari’s directive for sale of the forfeited assets recovered from proceeds of corruption and looting of public treasuries should present an opportunity for a transparent and accountable exercise.

A 22-member Inter-Ministerial Committee on the Disposal of the Federal Government of Nigeria Forfeited Assets empanelled on October 27, 2020, headed by the Solicitor General of the Federation and Permanent Secretary of the Federal Ministry of Justice, Dayo Apata, has six months to carry out this assignment.

Buhari’s directive is a follow-up to recommendations of the Presidential Audit Committee on the Recovery and Management of Stolen Assets in 2018, which guided the Office of the Attorney General of the Federation to issue the legal guidelines for the investigation, tracing, seizure and disposal of such assets.

With these elaborate and methodical preparations towards the disposal of the forfeited assets, Nigerians expect the actual sales to be fair, transparent and accountable. This “open house” approach is commendable.

If followed through, it will ensure that the bidding process will be in the public domain to prevent a situation where only those who are well-connected to the government and the ruling party are allowed to pick them up at virtual giveaway prices.

We call for a live televised process so as not to allow any form of favouritism to bedevil it.

ALSO READ: Africa’s confirmed COVID-19 cases surpass 1.99m — Africa CDC

These are national assets. They belong to all Nigerians equally, and prospective beneficiaries must be given equitable opportunities to bid and buy at competitive prices.

We, however, caution that all the legal processes concerning such forfeitures must have been comprehensively exhausted to prevent situations whereby people are deprived of their property with impunity.

We emphasise this because of the partisan political mindset which foreshadowed the asset seizures when this regime came to office in 2015.

We call for a revisit of activities of the Ibrahim Magu-led Economic and Financial Crimes Commission, EFCC’s, handling of the asset seizures and “sales”, as well as those already returned to their owners based on political grounds. These must be brought back and subjected to due process.

It must also be borne in mind that many of the forfeited assets rightly belong to the state governments. All assets recovered from governors and state officials must be given back to the states.

We do not believe that the Federal Government has the right to sell stolen properties of states and pocket or spend the proceeds. The states must be involved in this process.

Most importantly, the Federal Government must ensure that proceeds of these sales must be invested in sectors of the economy that will benefit all Nigerians and not in programmes (such as “conditional cash transfers”) which enable corrupt public servants to re-loot the people’s patrimony.

Vanguard News Nigeria

The post Sale of forfeited assets appeared first on Vanguard News.




Read also

Mesut Ozil can boost Arsenal with January recall thanks to Thomas Partey, insists Gunners legend Paul Merson

Woman in hysterics at ASOS fail as trousers are so see-through you can see her entire bum

Virtual Debit Cards Secure Transactions And Ease Minds



News, articles, comments, with a minute-by-minute update, now on Today24.pro




Today24.pro — latest news 24/7. You can add your news instantly now — here