President Bola Tinubu has reiterated his administration’s firm stance against corruption, emphasizing that Nigeria will be a no-go zone for corrupt activities. Speaking at the Ministry of Justice Asset Recovery Summit in Abuja, themed “Synergising Towards an Effective Assets Recovery and Management,” Tinubu stressed that asset recovery remains a cornerstone of Nigeria’s anti-corruption strategy.
Represented by Permanent Secretary Madugu Gagare, Tinubu highlighted the importance of restoring public trust by ensuring recovered funds benefit all Nigerians. He noted corruption’s negative impact on key sectors like health, education, and infrastructure, stressing the urgent need to reinvest repatriated assets into critical national projects.
To enhance accountability, Tinubu launched two major initiatives: the Proceeds of Crime (Standardised Automated Asset Forfeiture Management System) Regulations, 2024, and the National Central Database of Forfeited and Recovered Assets. These reforms aim to improve transparency and public oversight in asset management.
Tinubu also praised international partners including the US, UK, Switzerland, and France for their collaboration in recovering stolen Nigerian funds. He urged continued cooperation to expedite the repatriation process.
Attorney General Lateef Fagbemi (SAN) affirmed the government’s dedication to transparency and legal enforcement in the fight against corruption. He revealed that in 2024 alone, the Economic and Financial Crimes Commission (EFCC) recovered over N248 billion, $105 million, and hundreds of properties, while the Independent Corrupt Practices Commission (ICPC) also recovered significant assets.
Since 2017, international efforts have helped retrieve over $763 million and £6.4 million, which have been reinvested in social programs and infrastructure through the Presidential Infrastructure Development Fund.
Despite progress, challenges remain, including cross-border complexities and the need for stronger global partnerships. The summit underscored the government’s commitment to ensuring that recovered assets promote national development and improve the lives of Nigerians.
