THE Attorney General of the Federation and Minister of Justice , Mr Abubakar Malami (SAN ), on Monday , inaugurated a 21 – man Inter – Ministerial Committee on the Disposal of Federal Government of Nigeria’ s Forfeited Assets .
The committee, whose members were inaugurated at the headquarters of the Federal Ministry of Justice , Abuja , is expected to sell off all assets forfeited in favour of the Federal Government within six months .
Malami said the President , Major General Muhammadu Buhari (retd . ), had approved the constitution of the committee chaired by the Solicitor – General of the Federation and Permanent Secretary , Federal Ministry of Justice , Mr Dayo Apata (SAN ).
He added , “ In compliance with the directives of Mr President , the Office of the Honourable Attorney General of the Federation and Minister of Justice issued Asset Tracing , Recovery and Management Regulations , 2019 to provide legal and administrative frameworks for the investigation, tracing , seizure and disposal of stolen or illegally acquired assets and proceeds of crime.
“ The regulation was drawn from the extant laws of the relevant anti – corruption and law enforcement agencies .
“ It is aimed at ensuring proper coordination of the disposal of the Federal Government assets and for promoting a uniform , harmonised and transparent procedure to safeguard the assets recovered by the relevant agencies in line with the anti – corruption drive of this administration .
“ The committee has a time frame of six months for the disposal of all Federal Government forfeited assets . ”