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 Nigeria’s return to democratic rule in 1999.
The resolution, adopted on Tuesday, follows a motion sponsored by Ibe Okwara Osonwa, representing Arochukwu/Ohafia Federal Constituency of Abia State.
It addresses concerns over transparency and accountability in the management of recovered public assets.
Osonwa highlighted the absence of a centralised asset register and weak oversight mechanisms, which he said have created significant gaps in tracking proceeds of crime.
He cited Sections 88 and 89 of the 1999 Constitution (as amended), which empower the National Assembly to investigate public institutions and scrutinise the management of public funds and assets.
He noted that various anti-corruption agencies, ministries, departments, regulatory bodies, and courts have recovered substantial assets, including cash, landed properties, shares, petroleum assets, vehicles, vessels, aircraft, and digital assets worth trillions of naira since 1999.
Despite the huge value, the lawmaker expressed worry that Nigeria still lacks a centralised and publicly accessible National Asset Recovery and Management Register to provide comprehensive information on the status, value, location, and utilisation of these assets.
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