REPS MOVE TO UNRAVEL STATUS OF N2TR ASSETS SEIZED BY EFCC

A CLEAR picture of the status of over N2 trillion assets seized by the Economic and Financial Crimes Commission (EFCC) is set to emerge as the House of Representatives has mandated a committee to carry out a thorough investigation into property confiscated by the anti-graft agency.

The House, which tasked the Committee on Drugs, Narcotics and Financial Crimes to conclude the assignment within two weeks, adopted a motion on the matter introduced by Toby Okechukwu and 15 other members who expressed the need for proper management of the assets.

Leading the debate on the motion, Okechukwu informed the parliament that the EFCC had between 2003 and 2010 confiscated over 200 mansions estimated to be over N2 trillion through 46 forfeiture court orders.

He said the affected landed property and business concerns included billions of naira in bank accounts, shares in blue-chip companies, exotic vehicles, fuel stations, hotels, warehouses, shopping malls, schools, bakeries, estates, telecommunication companies, radio stations in and outside Nigeria.

The lawmaker pointed out that the EFCC had within the terms of its mandate at many times confiscated through court orders assets from accused and convicted persons, including prominent Nigerians and corporate organisations.

He, however, expressed concern that there have been cases of vandalism, abandonment and waste of hitherto operating companies prior to forfeiture.

He further expressed worry over the status of the property and the lack of clarity on their use while litigation is on, and the reported breach of the seal of EFCC and attempts at unlawful and forceful repossession by those whose property had been confiscated.

Other lawmakers, including Benjamin Aboho, Micah Umor, Manir Baba, Khamir Akinlabi Mudasiru and Friday Itula, also spoke in support of the motion.

Similarly, the parliament yesterday committed to its Committee on Works, a motion for urgent intervention in the reconstruction of the Lagos-Abeokuta expressway for further legislative action.

The motion, introduced by Solomon Adeola on behalf of nine other members had raised the alarm, stating that the federal road was on the verge of collapse, thereby causing loss of lives and property.

Adeola had informed the parliament during the session presided over by the Speaker, Aminu Waziri Tambuwal, that the road serves as a major economic and trade route between Lagos and Ogun states and the entire South-West.

Also, a Bill for an Act to amend the Federal High Court to increase the number of judges of the Federal High Court from 70 to 100 was read for the third time and passed by the House.

Also read for the third time and passed by the parliament were a Bill for an Act to provide for the establishment of the New Partnership for Africa’s Development Commission, as well as a Bill for an Act to establish the Directorate of Technical Cooperation in Africa.

Source: Guardian