EFCC, Asset Recovery and Matters Arising
There are rising speculations and distortion of facts on the issue of asset recovery and disposal by the Economic and Financial Crimes Commission, EFCC. But the Commission says that guidelines and procedures on the issue are clear enough to demonstrate transparency and accountability.By the sheer weight of its works, it is apparent that the EFCC is having its hands full. The task of investigations, prosecution of cases, asset tracing, forfeiture and disposal are not for the faint-hearted.
He also disclosed that the EFCC is thorough and transparent in handling every asset traced to any suspect facing investigations and prosecution. He also disclosed that such a restitution is allowed because investigation linked the bank robbery to Nwude and the appropriate thing to do is to return the money to the victim.
He explained that the provisions of the Public Procurement Act clearly stipulate the procedures to be followed in auctioning forfeited assets. The procedure involves engagement of auctioneers; advertisement of the assets to be auctioned in the media, spelling out of qualifications of auctioneers and ensuring that every bit of the required qualification is met and public auction of the assets.
“The Nigeria Customs Service is always auctioning different items seized from smugglers. The Service follows extant rules in doing this. This is the same procedure the EFCC is following. Anyone claiming any asset is disposed to any agency or individual may not be familiar with the Public Procurement Act or may be simply mischievous’’.
While the public auctioning of the trucks and other vehicles were going on between December 20 and December 23, 2019, Olukoyede stressed the need for members of the public to submit their bids for any of the trucks and vehicles being auctioned. The response was overwhelming. Responses came from the whole country and the bidding processes were quite open.
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