• April 13, 2021

Establishment Of New Anti-Corruption Agency Approved By FG

By Lillian Ogbonna (AGENDAWATCHDOG) – The establishment of a new anti-corruption agency, which will be saddled with proper coordination of all recovered looted assets, has been approved by the Federal Executive Council (FEC).

During Wednesday’s briefing of State House Correspondents, following a meeting of the Federal Executive Council (FEC), the Minister of Justice, Abubakar Malami, said that the name of the new anti-corruption agency was the ‘Proceeds of Crime Recovery and Management Agency’, which was to be saddled with the responsibility of managing the assets that constitute the proceeds of crime in Nigeria.

According to Malami, the new body was established due to the fact that assets recovered had been in the hands of several agencies, adding that  the need for better coordination to encourage international/overall coordination in recovering more looted assets, informed the setting up of the body.

Malami further stated that a bill titled, “Proceeds of Crime Recovery and Management Agency Bill,” had been approved by the FEC and transmitted to the National Assembly, adding that once it becomes law and the agency is established, it would see to proper documentation and management of such recovered assets and thereby guarantee transparency and accountability.

Agenda Watchdog

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