A Senior Advocate of Nigeria and lecturer in the Department of Jurisprudence and International Law, Faculty of Law, University of Lagos, Dr. Wahab Shittu, has thrown his weight behind the House of Representatives’ decision to investigate assets recovered by government agencies since 1999, describing the move as a crucial step towards strengthening accountability and preventing the re-looting of public assets.
Shittu made this known on Thursday during an interview on Frontline, a current affairs programme on Eagle 102.5 FM, Ilese Ijebu, Ogun State.
His comments followed Wednesday’s resolution by the House of Representatives directing a comprehensive audit of all assets seized, forfeited, recovered, managed, disposed of or repatriated by government institutions since Nigeria returned to democratic rule in 1999.
Backing the lawmakers’ decision, the senior advocate said an immediate audit was necessary to establish a comprehensive inventory of all recovered assets and ensure they were managed in the interest of Nigerians.
“I agree with the House of Representatives. An immediate audit should be taken so that we know all assets that have been recovered from 1999 to date,” he said.
Shittu warned that recovered assets must not be diverted by officials entrusted with their management, insisting that anyone found culpable should face the full weight of the law.
“Nothing should be missing. Whoever is found to have connived or to be trying to connive in the diversion of these assets should be brought to book,” he stated.
According to him, the primary objective of the proposed audit should be to ensure that assets recovered from criminal activities are not looted again.
“The reason is simple, to ensure that these assets recovered from criminals are not re-looted. We also need to put in place adequate statutory and management frameworks to manage these assets for the benefit of Nigerian citizens. So what the House of Representatives is doing is commendable,” Shittu added.
He argued that the exercise should extend beyond the Economic and Financial Crimes Commission and the Independent Corrupt Practices and Other Related Offences Commission, saying all government institutions involved in asset recovery should be subjected to scrutiny.
“All the agencies involved in the recovery of assets are not only the EFCC and ICPC. The Code of Conduct Bureau, intelligence agencies, the police and others have also recovered assets since 1999. We should set up a special panel to undertake this,” he said.
The legal scholar also urged the authorities to revisit the findings of the Salami Panel to establish a complete record of assets and funds recovered over the years.
“I am aware that the Salami Panel tried to compile some of these assets. They should call for the work of the Salami Panel to understand how many assets were recovered, how much is in the Consolidated Revenue Fund domiciled in the Central Bank of Nigeria, where the leakages are, and how much has been released to victims,” he said.
Shittu maintained that a credible inventory of recovered assets would improve government revenue and provide additional resources for national development.
“If that inventory is done diligently, effectively and efficiently, a lot of revenue will accrue to the Federal Government. It can also be deployed for developmental purposes and shared among other tiers of government for the benefit of our people. So, it is a priority,” he noted.
He further advocated the centralisation of recovered asset management under the agency established by the Proceeds of Crime Act, saying all anti-corruption and law enforcement agencies should report recoveries to a single institution.
“There is a designated agency created by the Proceeds of Crime Act for the management of recovered assets. I think the way to go is to centralise these recoveries in one agency,” he said.
Shittu stressed that the House of Representatives’ investigation presents an opportunity to establish a transparent database of recovered assets while ensuring they are deployed for the common good.
“That should be emphasised in order to ensure that looted assets recovered are not re-looted by those entrusted with the responsibility of recovering and managing them. The House of Representatives should also ensure that we have adequate records of these recoveries and that they are deployed for the common good,” he said.
The senior advocate also commended the anti-corruption efforts of the Economic and Financial Crimes Commission under its Chairman, Ola Olukoyede, and the ICPC, noting that both agencies had recorded notable recoveries and forfeitures.
“Under Olukoyede’s administration at the EFCC and the ICPC, a lot of forfeitures are being recorded. The Malami forfeiture, the Emefiele forfeiture and several other recoveries have been made, including convictions,” he said.
Shittu said the recent recoveries suggested that Nigeria’s anti-corruption campaign had improved compared to previous years.
“You see that we are not where we were before the Tinubu government took over. Certainly, there is a lot of improvement,” he stated.
While acknowledging that corruption could never be completely eliminated, Shittu said governments must continue to strengthen institutions and policies aimed at reducing the menace.
“There is no country that can totally eradicate corruption. What a country can do is to put in place adequate measures for reducing the menace to the barest minimum,” he said.
He added that Nigeria’s improved standing on the Corruption Perceptions Index reflected progress in the fight against corruption.
“If you look at our Corruption Perceptions Index, our rating has come down, unlike what it used to be in previous years,” he added.
