Why We Are Selling Diezani’s Jewelry, Other Forfeited Assets – FG

The Federal Government has revealed why it is selling final forfeited assets in 25 locations across the country.

Speaking at a press conference on Tuesday, Chairman of the inter-ministerial committee on the disposal of assets forfeited, Dayo Apata, said the government is selling the assets to generate money for the country.

According to Apata, the assets recovery and disposal process are part of the administration of criminal justice policy of the office of the Attorney-General of the Federation.

He noted that some of the assets to be sold include landed properties, plants, machinery, motor vehicles, jewelry, etc.

“It needs to be emphasized that asset recovery and disposal constitutes an integral part of the administration of criminal justice which are all within the purview of the Hon. Attorney-General of the Federation,” he said

“The Committee is working assiduously to complete its assignment within the six (6) months’ time frame as spelt out in the presidential directive and is guided by the Asset Tracing, Recovery and Management Regulations, 2019, Standard Operating Procedures (SOP) and its Terms of Reference (TOR).

“The composition of the Committee reflects a fair spread across relevant MDAs. It is interesting to note that the composition of the Committee cuts across institutions not only involved in the asset recovery but also institutions with special skills, competencies, and oversight of security over the assets.”

He said the committee seeks to put an end to poor management and wastage of assets which prevents the government from realizing the full benefits of the forfeiture.

The chairman added that the committee made publications in the federal tenders journal and two (2) national newspapers (ThisDay and the Daily Trust) on February 1 to kick-start the disposal process.

“Please note that the Committee intends to engage valuers and auctioneers as part of the process in the disposal of assets forfeited to the Federal Government and the list of assets will be published accordingly. Interested persons/firms are encouraged to look out for the publication and make submissions in the required format and within the specified timelines,” he said.

“Since inauguration, the committee has held several meetings and consultations and has worked assiduously to develop its work plan, templates, strategies and modalities, in line with relevant Laws and Regulations, to aid it in the discharge of its mandate within the set time limit.

“The Committee holds sacred the twin features of transparency and accountability paramount in the discharge of this monumental national assignment of disposing assets forfeited to the government. Accordingly, members have executed Declaration of Conflict of Interest and Non-Disclosure Forms. This is the first time in Nigeria.”