President Muhammadu Buhari on Wednesday set up a committee to audit recovered loot and assets seized from corrupt former officials.
The committee has four weeks to complete its assignment and to turn in its reports. The president noted there had been “fundamental gaps” in taking stocks of recovered loots and seized assets among agencies involved in their recovery exercise.
“It has become obvious that fundamental gaps still exist in ensuring that the recovered assets are accounted for, and managed in an accurate, transparent and logical manner”, President Buhari said.
More so, the president said he had earlier directed all agencies involved in the recovery exercise “to send in detailed reports of all their recovered assets”. He said the move was to ensure that “in pursuing the anti-graft war, we do not create new room for dishonorable conduct by any individual or agency”.
“The decision to inaugurate this Audit Committee on the Recovery and Management of Stolen Assets within and Outside Nigeria today is therefore the next step in ensuring that all returns filed by the various agencies are accurate and consistent with actual recoveries made”.
“The Committee, in essence, is therefore expected to judiciously undertake an audit of all recovery accounts established by government agencies from the date of opening such accounts up to 10th April, 2017. The details of the Committee’s functions are as set out in your Terms of Reference.
“Where it becomes necessary, the Committee will of course rely on existing laws to compel the production of information and will also have the benefit of necessary interventions by the Attorney-General of the Federation and Minister of Justice in obtaining such information through legal processes, where so required,” the president stated.
