By Mashe Gomna
The Minister of Information and Culture, Alhaji Lai Mohammed, Wednesday, gave an update on the Proceeds of Crime (Recovery and Management) Act (POCA), 2022, saying that in line with the new law, all relevant agencies of government have now opened ‘Confiscated and Forfeiture Properties Account with the Central Bank of Nigeria (CBN).
“I can confirm that so far, the Federal Government has realized over 120 billion Naira, among other currencies, from POCA,” Lai Mohammed disclosed during an opening remark at the 8th edition of the press conference on the scorecard of President Muhammadu Buhari’s administration.
He said the money will be used to fund the completion of ongoing critical infrastructure projects in the country like the Second Niger Bridge as well as Lagos-Ibadan and Abuja-Kano Expressways. We will continue to update you on this.
He pointed out that the Administration’s fight against corruption is very much on track, and that there is no going back.
As you may already know Mr President signed into law the Proceeds of Crime (Recovery and Management) Bill, 2022, on May 12th, 2022.
That bill was one of the three which Mr. President signed into law that day. Others are the Money Laundering (Prevention and Prohibition) Bill, 2022 and the Terrorism (Prevention and Prohibition) Bill, 2022.
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