The Federal House of Representatives has mandated its Committee on Crimes and Narcotics chaired by Adams Jagaba to investigate activities of the Economic and Financial Crimes Commission (EFCC) on assets it has seized and sold, many of which are rotting away despite the 2008 inauguration of EFCC’s Assets Forfeiture Unit with the mandate of ensuring that all assets forfeited to the Federal Government through the EFCCare identified and verifiable.
The forfeited assets estimated at over N2trn include landed properties and business concerns, bank accounts, shares in blue chip companies, exotic vehicles, fuel stations, hotels, warehouses, shopping malls, schools, bakeries, housing estates and radio stations in and outside the country.
The resolution was sequel to series of complaints and petitions to the House by members of the public.
Ruling on the debate, Speaker Aminu Tambuwal mandated the committee to quickly probe the status of the seized assets and send a report to the House.
Toby Okechukwu, sponsor of the motion, argued that there were lots of unsettling issues surrounding seized assets. Though acknowledging the efforts of the commission to reduce corruption in the country, he described as unacceptable, a situation where vehicles, houses or business concerns seized by EFCC are allowed to rot away.
He maintained that the commission had, in the past, confiscated more than 200 mansions through court orders but there hasn’t been a clear account of what happened to these assets thereafter.
Okechukwu argued that the EFCC had, within its mandate, at many times confiscated through court orders, assets from accused and convicted persons, including prominent Nigerians and corporate organisations. He lamented that there have been reports and complaints of vandalism, abandonment and waste of some of the assets after their Seizure.
Okechukwu equally regretted that there has been lack of clarity on the utilisation of these assets while litigations on the substantive corruption cases were on in the courts.
“I am disturbed by the status of these properties and the lack of clarity on their use while litigation is on, coupled with the reported breach of the seal of EFCC and attempts at unlawful and forceful repossession by those whose properties had been confiscated,” he said.
“I am challenged by the reported rot and dilapidation of over 400 cars seized from ex-governors and prominent Nigerians, which order was obtained from the court to enable professional managers use same to generate revenue for the Federal Government of Nigeria.”
He said the situation is worsened by the fact employees of the companies concerned are often made to lose their jobs and join the unemployment market. He, therefore, recommended that the commission should hire experts to run any seized company to avoid ruining the organisation and the jobs of its staff.
Samson Osagie suggested that rather than benefit from seized properties, the country is currently experiencing the reverse.
He noted that a situation where items seized by EFCC are allowed to rot away and lose their values is not profitable to the country, saying “The idea is for the nation to recoup the what has been stolen but right now, because some of these properties are allowed to rot away, we do not make gains out of the seizure.”
