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Malami inaugurates committee on disposal of forfeited assets

The Attorney-General of the Federation (AGF) and Minister of Justice on Monday in Abuja inaugurated an inter-ministerial committee on the disposal of assets forfeited to the Federal Government.

Inaugurating the committee on Monday in Abuja, Malami said the committee’s mandate is to ensure the expedient disposal of all FGN Forfeited Assets and generate revenue for the Federal Government of Nigeria.

He said President Muhammadu Buhari approved the composition of the Inter-Ministerial Committee on the Disposal of Federal Government of Nigeria Forfeited Assets on 27th October, 2020.

The Committee has a time frame of six (6) months for the disposal of all Federal Government Forfeited Assets.

He said while the Solicitor General of the Federation and Permanent Secretary Federal Ministry of Justice, Dayo Apata, SAN shall be the Chairman of the Committee, the Asset Tracing, Recovery and Management Unit under the Office of the Attorney General of the Federation and Minister of Justice shall serve as the Secretariat of the Committee.

Twenty-two members of the Committee shall include, but not limited to, representatives from the following:
i. Office of the Chief of Staff to the President;
ii. Federal Ministry of Justice;
iii. Federal Ministry of Finance;
iv. Federal Ministry of Works and Housing;
v. Auditor-General of the Federation;
vi. Economic and Financial Crimes Commission;
vii. Independent Corrupt Practices (and other related offences) Commission;
viii. Nigerian Army;
ix. Nigerian Navy;
x. Nigeria Police;
xi. Nigeria Security Civil Defence Corps;
xii. Nigerian Maritime Administration and Safety Agency;
xiii. Department of State Security;
xiv. National Drug Law Enforcement Agency;
xv. Department of Petroleum Resources;
xvi. National Oil Spillage, Detection and Response Agency;
xvii. Bureau of Public Procurement;
xviii. Representatives of the Civil Society Organization;
xix. Representative of the Youth;
xx. Representative of the Media; and
xxi. Any other Nigerian with exceptional expertise that could add value to the Committee as deems fit by the Attorney General of the Federation.

The responsibilities of the committee include to:
a. Implement provisions of the ATRM Regulations;
b. Ensure the transparency of the disposal of Federal Government Final Forfeited Assets;
c. 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;
d. Ensure that information flow on assets are in place;
e. Respond to any ongoing Asset Management Audit and the asset performance reports;
f. Consistently implement enablers and controls that support decision making and efficiency of service delivery which govern the disposal of assets; and
g. Development of targets for the Committee in order to measure its performance.

The Asset Tracing, Recovery and Management Regulations, 2019, the Standard Operating Procedures and Terms of Reference are the working tools to 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 directive.

He urged the Inter-Ministerial Committee to work as a formidable Team with the relevant agencies in accordance with extant laws and regulations.

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