Recovered assets: Tinubu reaffirms commitment to transparency, accountability

From: Femi Oyelola in Kaduna

President Bola Ahmed Tinubu has reaffirmed his administration’s commitment to transparency and accountability in the management of recovered assets.

President Tinubu made this known at a National Asset recovery summit organised by the Federal Ministry of Justice (FMOJ) in partnership with Anti-corruption Agencies supported by the Africa Network for Environment and Economic Justice (ANEEJ) yesterday in Abuja.

Represented by the Permanent Secretary for Political and Economic Affairs in the Office of the Secretary to the Government of the Federation, Engr. Nadungu Ggare, President Tinubu, said his administration’s resolve as a government to fight corruption is unwavering and unshakable.

While officially unveiling the National Central Database of Recovered Assets, Gbare described it as a bold and strategic step towards transparency, accountability, and justice, emphasising that the new database and related reforms will foster trust and enhance the efficiency of asset recovery and management.

Themed; “Synergising Towards an Effective Asset Recovery and Management,” the summit drew high-level participation and consensus on the need for systemic reforms in the asset recovery landscape.

The Attorney-General of the Federation and Minister of Justice, Prince Lateef O. Fagbemi, SAN, in his opening address reiterated the government’s firm commitment to transparency and accountability in asset recovery. “Asset recovery is a fundamental pillar in our strategy to address corruption, economic crimes, and illicit financial flows, which undermine our national development,” he said.

“The Federal Government has remained resolute in its pursuit of transparency, accountability, and adherence to the rule of law in the management of recovered assets. This is because we recognise that the effective recovery and management of assets are crucial to restoring public trust and fostering sustainable economic growth.”

On the National Central Database itself, Fagbemi said: “The National Central Database of Forfeited Assets, alongside the Proceeds of Crime (Standardised Automated Asset Forfeiture

Management System) Regulations 2024, was developed to enhance transparency and accountability. Relevant organisations are required to populate the database monthly with records of forfeited assets under their purview. I commend all Relevant organisations for their cooperation and support, which has led us this far.”