President Tinubu has launched new asset recovery reforms to reinforce anti-corruption efforts and transparency.
President Bola Tinubu has launched sweeping asset recovery reforms aimed at strengthening Nigeria’s anti-corruption efforts and restoring public trust.
Speaking through the SGF’s office at the Asset Recovery Summit in Abuja, Tinubu unveiled two key initiatives: the Proceeds of Crime Regulations 2024, and a National Central Database of Forfeited and Recovered Assets to ensure transparent tracking of recovered wealth.
“Our resolve as a government to fight corruption is unwavering and unshakable,” Tinubu stated.
He emphasized the moral imperative of asset recovery and pledged collaboration with international partners like the US, UK, and Switzerland.
Attorney General Lateef Fagbemi revealed that in 2024 alone, EFCC recovered over N248 billion, $105 million, and 753 properties.
ICPC and NDLEA also reported significant recoveries. Fagbemi said $659.9 million and £6.4 million were invested in projects like the Second Niger Bridge and Lagos-Ibadan Expressway.
Civil society groups and auditors will continue monitoring these funds to ensure accountability and transparency, aligning with GFAR principles.