Asset Recovery
Report: Nigerian politicians own 800 assets worth $400 million in London, Dubai
File Photo An Associate Fellow of Chatham House, London, Mr. Matthew Page, said yesterday that 800 property worth $400 million and owned by Politically Exposed Persons (PEP) in Nigeria were located in London and Dubai. The revelation is coming as the Chairman of the Independent Corrupt Practices and Other Related Offences Commission (ICPC), Prof. Bolaji Owasanonye, said it dragged about 2,000 corporate entities into the country’s tax net. A statement issued by ICPC said Page made the disclosure in his paper presentation titled: “IFFs through the Real Estate and Education Sectors: Implications for Investigators,” at an event organised by the agency in Abuja. He urged the investigators of the ICPC to pay attention to real estate and education sectors-linked illicit financial flows. He noted ...
Delta government heads to Supreme Court to reclaim £4.2 million James Ibori loot
The Delta State Government says it will challenge federal government’s plan to deploy the recently returned £4.2 million (around N2.2 billion) recovered from former governor, James Ibori, at the Supreme Court. The Commissioner for Information, Ehiedu Aniagwu, disclosed this on Tuesday while reacting to news of the repatriation of the funds, which the Attorney General of the Federation and Minister of Justice, Abubakar Malami (SAN), said would be used to complete the ongoing work on Second Niger Bridge, Abuja-Kano Road and the Lagos-Ibadan road. “We would try to get take advantage of the legal system to make the federal government correct the injustice they are about to visit on us as a state,” he said. “If they are quite sure that the funds they are about to repatriate left Delta State on ...
How ICPC is combating corruption in MDAs, stopped diversion of N189 billion personnel cost
File Photo In the past few years, the Independent Corrupt Practices and Other-Related Offences Commission, as part of its statutory mandate, has been conducting systems study and review of ministries and organisations in the federal public service. The overall objective of a system review is reform of the systems and procedures of public agencies with a view to identifying and eliminating, preventing, blocking and obstructing opportunities for corruption. To achieve this, the exercise targets detecting areas of vulnerabilities, actual weaknesses, leakages and corruption risks and to recommend ways of strengthening these systems and removing the discretionary gaps and such opportunities for both individual and institutional malfeasance on public resources. In addition, the review also targe...
How ICPC is combating corruption in MDAs, stopped diversion of N189 billion personnel cost
File Photo In the past few years, the Independent Corrupt Practices and Other-Related Offences Commission, as part of its statutory mandate, has been conducting systems study and review of ministries and organisations in the federal public service. The overall objective of a system review is reform of the systems and procedures of public agencies with a view to identifying and eliminating, preventing, blocking and obstructing opportunities for corruption. To achieve this, the exercise targets detecting areas of vulnerabilities, actual weaknesses, leakages and corruption risks and to recommend ways of strengthening these systems and removing the discretionary gaps and such opportunities for both individual and institutional malfeasance on public resources. In addition, the review also targe...
