The Independent Corrupt Practices and Other Related Offences Commission (ICPC) has announced a record N1.86 billion realized from the auction of forfeited assets in 2024, the highest since its inception in 2000.
ICPC spokesperson Demola Bakare disclosed this in a statement on Wednesday, following a presentation by the Proceeds of Crime Department (POCD) during the 2025 Asset Disposal Committee meeting chaired by ICPC Chairman Musa Aliyu.
Of the 23 assets slated for disposal in 2024, 10 were successfully auctioned in December. Seven failed to sell due to bids below the approved threshold, while six were hindered by legal, security, or encroachment issues.
Four unsold assets have been carried over to the 2025 disposal program.“For 2025, the Committee has approved 30 assets for disposal,” the statement said.
These include four rolled-over assets from 2024, 12 immovable properties, three movable assets, and 11 batches of perishable items.A breakdown of the 2024 proceeds shows:Perishable/scrapped assets: N3.97 million
Off-cycle sales (3 assets): N975 million
On-cycle sales (20 assets): N890 million
The ICPC says the funds will support anti-corruption efforts and public service delivery.
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