Africa Press-Nigeria<\/p>\n
The Minister of Justice, Abubakar Malami, SAN, on Monday, inaugurated an inter-ministerial committee on the disposal of forfeited assets to the Federal Government.<\/p>\n
Malami said the composition of the inter-ministerial committee was approved by President Muhammadu Buhari on Oct. 27.<\/p>\n
The 22-member committee according to the minister has six months within which to dispose of all forfeited assets, to generate revenue for the Federal Government.<\/p>\n
The committee members, he said, which are drawn from relevant agencies involved in various recoveries of looted assets of the federal government are chaired by the Solicitor-General of the Federation (SGF) and Permanent Secretary of the Federal Ministry of Justice, Mr Dayo Apata, SAN.<\/p>\n
Malami said his office in 2019 issued the Asset Tracing, Recovery, and Management Regulations following the directive of President Muhammadu Buhari in 2018.<\/p>\n
\u201cThe regulations provided legal and administrative frameworks for the investigation, tracing, seizure, and disposal of stolen or illegally acquired assets and proceeds of crime.<\/p>\n
\u201d It was aimed at ensuring proper coordination of the disposal of the federal government assets and for promoting a uniformed, harmonized and transparent procedure to safeguard the assets recovered by the relevant agencies in line with the anti-corruption drive of the current administration.<\/p>\n
\u201cIt is my pleasure to inaugurate this committee today which has a time frame of six months for the disposal of all Federal Government Forfeited Assets\u201d, he said.<\/p>\n
According to the minister, \u2018the responsibilities of the Inter-Ministerial Committee include implementation of provisions of the ATRM Regulations, ensure the transparency of the disposal of Federal Government Final Forfeited Assets.<\/p>\n
\u201d Ensure the synergy and collaboration between the Attorney General of the Federation and Minister of Justice and Law Enforcement and Anti-corruption Agencies, other relevant Ministries, Departments and Agencies and the Non-Governmental Organization in the collation of records of all assets.<\/p>\n
\u201cEnsure that information flow on assets is in place.<\/p>\n
Other tasks of the committee are responding to any ongoing Asset Management Audit and the asset performance reports.<\/p>\n
\u201cConsistently implement enablers and controls that support decision making and efficiency of service delivery which govern the disposal of assets; and development of targets for the committee in order to measure its performance.<\/p>\n
Malami, however, stated that the Asset Tracing, Recovery, and Management Regulations, 2019, the Standard Operating Procedures and Terms of Reference shall be the working tools and serve as guidelines for the Inter-Ministerial Committee and how best to actualize the quick disposal of the FGN assets in line with Mr President\u2019s directive.<\/p>\n
\u201cYour mandate is to ensure that the expedient disposal of all FGN Forfeited Assets and generate revenue for the Federal Government of Nigeria.<\/p>\n","protected":false},"excerpt":{"rendered":"
Africa Press-Nigeria The Minister of Justice, Abubakar Malami, SAN, on Monday, inaugurated an inter-ministerial committee on the disposal of forfeited assets to the Federal Government. Malami said the composition of the inter-ministerial committee was approved by President Muhammadu Buhari on Oct. 27. The 22-member committee according to the minister has six months within which to […]<\/p>\n","protected":false},"author":62,"featured_media":10468,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[24,14],"tags":[97,1104],"class_list":["post-32173","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-policy","tag-buhari","tag-malami"],"yoast_head":"\n