Reps panel investigates seized assets by anti-graft agencies

The panel is to take an inventory of recovered assets both in cash and materials and determine the status of the recovered materials.

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Also, the panel is to take an inventory of recovered assets both in cash and materials and determine the status of the recovered materials.Economic and Financial Crimes Commission It also noted with concern the failure to preserve and realise the economic value of the recovered assets, noting that some of the assets were recovered over 15 years ago and left fallow.The PCARA was inaugurated by President Muhammadu Buhari in 2015 and submitted its report in 2018. Its content as it relates to Mr Magu was only recently leaked to the media through the News Agency of Nigeria.

“The nation is going through economic challenges as sources of revenue has reduced, yet it has valuable assets that were recovered from the proceeds of crime.“Government agencies are paying billions of Naira as rent whereas houses recovered and forfeited to government from proceeds of crime are wasting away.”

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