In the face of growing corruption and the erosion of public trust in state apparatuses to tackle the menace headlong, President Bola Tinubu has stated that his administration would not waver or back down in arresting the malaise.
Tinubu made this assertion on Tuesday at a summit entitled, “Synergising Towards an Effective Assets Recovery and Management,” organised by the Ministry of Justice.
Represented by the Permanent Secretary in the office of the Secretary to the Government of the Federation, Madugu Gagare, stated that an effective assets recovery system is pertinent to the fight against corruption.
“Asset recovery sends a clear and unwavering message: there will be no safe haven for corruption in Nigeria,” the president said. “It is about restoring the people’s trust and ensuring that every kobo of our national wealth works for the common good.”
The president decried the adverse effects of corruption on national development and public psyche, stating that proceeds of corruption must be used judiciously for public good in order to gain the trust of the citizenry.
Tinubu declared that the judicious use of recovered assets has become a sine qua non under his watch, giving instances of such capital-intensive projects which their implementation has been made possible with the proceeds of corruption. Examples of such projects are Lagos–Ibadan Expressway, Second Niger Bridge, Abuja-Kano Expressway, and rural electrification schemes.
As part of his strategies of tackling corruption, Tinubu launched two key initiatives geared towards improving accountability in the assets management system.
The first is the Proceeds of Crime (Standardised Automated Asset Forfeiture Management System) Regulations, 2024, which introduces a technology-driven process to track and manage forfeited assets.
The second is the National Central Database of Forfeited and Recovered Assets, created under Section 81(1) of the Proceeds of Crime (Recovery and Management) Act, 2022.
This publicly accessible platform will record all recovered assets and concluded forfeiture cases.
“These reforms are meant to ensure public oversight and foster transparency,” he said, adding, “Our government will take deliberate steps to strengthen anti-corruption institutions, enforce accountability, and ensure that justice is served—no matter whose ox is gored.”
Tinubu also expressed gratitude to international partners—including the United States, United Kingdom, Bailiwick of Jersey, Ireland, Switzerland, and France—for their cooperation in the recovery and repatriation of stolen assets. He called for continued collaboration to fast-track the return of funds still pending repatriation.
