The House of Representatives has called for a comprehensive audit of all assets seized, forfeited, recovered, managed, disposed of or repatriated by government institutions since the country’s return to democratic rule in 1999.
This comes against the backdrop of growing concerns over transparency and accountability in the management of recovered public assets.
The resolution followed the adoption on Tuesday of a motion sponsored by the member representing Arochukwu/Ohafia Federal Constituency of Abia State, Ibe Okwara Osonwa, who said the absence of a centralised asset register and weak oversight mechanisms had created gaps in the management of recovered proceeds of crime.
Justifying the rationale of the bill, Osonwa recalled that Sections 88 and 89 of the 1999 Constitution (as amended) empower the National Assembly to investigate the activities of public institutions and scrutinise the management of public funds and assets.
The enactment of the Proceeds of Crime (Recovery and Management) Act,
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