Anti-Corruption: Asset Forfeiture Bill For Second Reading

By Suleiman Bello

House of Representatives yesterday passed for second reading an Asset Forfeiture Bill which will enable Nigeria’s anti-graft agencies confiscate properties derived from unlawful activities from private and public individuals.

The bill, entitled: “A Bill for an Act to make Comprehensive Provisions for the Confiscation, Forfeiture and Management of Properties derived from unlawful activities and for Other Connected Matters (HB.693) and sponsored by the House leader, Hon Mulikat Akande-Adeola (Oyo/PDP), will provide a recognised management of confiscated and forfeited properties.

Why the bill? Hon. Akande-Adeola was of the opinion that the absence of such a legal framework in Nigeria has left some confiscated and forfeited properties dilapidated without utilisation, adding that, when passed, there will be streamlined and coordinated functions of the anti-graft agencies like the EFCC, ICPC and other related agencies, towards the fight against corruption in the country.

“In the present situation, nobody knows the whereabouts of monies and structures confiscated by authorities from such corrupt officials, as the bill aims to provide a coordinated process of managing the properties”, she explained.

House Speaker, Aminu Waziri Tambuwal, after unanimous adoption of the bill, referred it to the Justice committee for further works.