The Chairman of the Economic and Financial Crimes Commission, Ola Olukoyede, has assured Nigerians that no asset recovered by the commission will be mismanaged under his watch.
Olukoyede, in a statement on Tuesday, rejected calls for the creation of a single agency to manage all assets recovered by government agencies, describing the proposal as impractical.
He said more than 20 government agencies recover assets for the Federal Government and argued that each agency should remain responsible for managing and accounting for the assets it recovers.
According to him, the Proceeds of Crime Act provides an effective framework for ensuring accountability in the management of recovered assets.
Olukoyede disclosed that the EFCC had secured interim and final forfeiture orders covering 10,053 tangible assets under his leadership. The assets include properties, vehicles, land, schools, factories, hotels, machinery and aircraft.
He added that the disposal of finally forfeited assets had generated approximately ₦12.07 billion, which was paid to the Federal Government.
The EFCC chairman also said the commission recovered more than ₦1.23 trillion, $684.48 million, £373,905.78 and €9.34 million between October 2023 and June 2026.
Olukoyede urged all government agencies involved in asset recovery to account for what they recover and how the assets are managed.
He maintained that strengthening existing accountability measures would be more effective than establishing a new central agency for recovered assets.
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