The House of Representatives has summoned 5 authorities companies to look earlier than its Sub-Committee on Public Assets on 2 November as a part of an investigation into how seized, forfeited, and recovered assets are managed in Nigeria.
The companies are the Nigerian Navy, Nigeria Police Force, Nigeria Customs Service, Nigeria Immigration Service and the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA).
The committee is searching for to determine a complete report of recovered assets held by authorities establishments, develop a unified digital registry and establish gaps within the programs for documenting, managing and disposing of such properties.
The chairman of the sub-committee, Ibe Osonwa, who represents Arochukwu/Ohafia Federal Constituency of Abia State, introduced the date in the course of the panel’s inaugural assembly in Abuja.
Mr Osonwa mentioned the investigation was needed amid longstanding considerations about transparency, coordination amongst authorities companies, and accountability in dealing with assets recovered by way of legislation enforcement operations and different statutory processes.
“Across various administrations, questions have persisted regarding transparency, coordination, and the integrity of processes governing assets seized or forfeited through anti-corruption efforts, criminal justice actions, and administrative enforcement,” he mentioned.
The lawmaker mentioned the considerations went past administrative shortcomings, warning that the dealing with of recovered assets had implications for public belief, institutional credibility and the effectiveness of Nigeria’s anti-corruption framework.
“These concerns are not merely technical; they strike at the heart of public trust, institutional credibility, and the effectiveness of Nigeria’s anti-corruption architecture,” he added.
According to him, the sub-committee has been mandated to conduct a complete audit to determine an correct, verifiable report of assets seized, forfeited, or recovered and held, managed, or managed by related authorities establishments.
The train is anticipated to determine the standing of the assets, make clear their custody and administration, and decide how they’re finally disposed of or deployed for public use.
Mr Osonwa recognized the proposed unified digital registry as a key element of the investigation, explaining that it could centralise asset information, enhance information-sharing amongst companies and deal with inconsistencies and duplication in present documentation.
The registry would additionally allow related establishments to trace assets from seizure or forfeiture by way of custody, administration and eventual disposal or switch.
The committee plans to evaluate present accountability mechanisms and suggest reforms to align asset administration practices with relevant legal guidelines and worldwide finest practices.
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“The sub-committee has the opportunity to recommend reforms that will close long-standing loopholes, modernise asset management systems, and reinforce Nigeria’s commitment to transparency and responsible stewardship,” Mr Osonwa mentioned.
He added that the final word goal was to make sure that assets recovered by way of lawful processes have been managed responsibly and utilized in ways in which profit the general public.
“Our work can help ensure that recovered assets truly serve the public interest—whether through restitution, reinvestment, or national development priorities,” he mentioned.
The chairman formally introduced 2 November because the date for the companies to look following a movement moved by Omosede Igbinedion and supported by different members of the sub-committee.
“We expect all these agencies: Nigerian Navy, Nigeria Customs Service, the Nigeria Immigration Service, the Nigeria Police and NMDPRA, and see them here on the 2nd of November,” he mentioned.
The companies are anticipated to offer info on their respective roles within the seizure, restoration, custody and administration of assets, in addition to the procedures they use to doc and account for such properties.
Mr Osonwa urged sub-committee members to strategy the project with diligence, objectivity, and a powerful sense of nationwide accountability.
He expressed confidence that the investigation would produce suggestions to strengthen transparency, enhance coordination amongst authorities establishments and promote accountability within the administration of recovered assets.
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