A Bill to Establish and Regulate the Nigerian Assets Management Agency with the responsibility of managing all Government Assets including those seized, forfeited or taken over by Federal Government Bodies such as the Economic and Financial Crimes Commission (EFCC), Independent Corrupt Practices and Other Related Offences (ICPC), Nigeria Police, Nigeria Customs and the Nigerian Security and Civil Defence Corps among others” passed second reading in the Senate.
Leading the debate at the plenary session of Wednesday, 17th May 2017, Sen. Mustapha Bukar (APC: Katsina) explained that the Bill would empower the Public Asset Management Agency to monitor acquired assets seized by the Federal Government by providing a central management platform for the record keeping of data and an inventory of all assets acquired, seized or forfeited by the stated Federal Government agencies within and outside Nigeria.
In addition, Sen. Bukar stated that the Bill would provide the necessary procedures needed to guard against the vandalization and conversion of assets for personal use and benefits by officials. Furthermore, he added that the Bill is expected to curb corruption and corrupt practices associated with recovered assets in the Country.
The Bill is presently before the Committee on Judiciary, Human Rights and Legal Matters who are to report their findings in four weeks.
