HOUSE OF REPS TO PROBE ASSETS SEIZED BY EFCC

Worried about the status of valuable assets confiscated by the Economic and Financial Crimes Commission (EFCC) since its inception 10 years ago, the House of Representatives yesterday mandated its Committee on Drugs, Narcotics and Financial Crimes to conduct an investigation into the status of all seized and sold assets by the agency.

The investigation is to be concluded in the next four weeks after which a report is to be presented to the House in plenary.

This followed a motion sponsored by Hon. Toby Okechukwu with support of 15 other lawmakers.

They noted that the EFCC had confiscated over 200 mansions through 46 forfeiture court orders but the status of the seized properties remain unknown as there has not been any account of what happened to them.

While leading the debate, Okechukwu emphasised that the Assets Forfeiture Unit of the anti-graft agency was set up in 2008 to enhance accountability, hence the mandate of ensuring that all assets forfeited to the  federal government through the EFCC were identified and verifiable.

He went further to add that the properties, which are estimated to be valued at over N2trillion, include landed properties and business concerns, bank accounts, shares in blue chip companies, exotic vehicles, fuel stations, hotels, warehouses, shopping malls, schools, bakeries, housing estates and radio  stations in and outside Nigeria.