ICPC Generates Record ₦1.86 Billion from 2024 Asset Disposal Exercise

Kaduna, Northwest Nigeria

The Independent Corrupt Practices and Other Related Offences Commission (ICPC) has recorded a historic milestone in its asset disposal operations, realizing a total of ₦1.86 billion from the sale of 23 forfeited assets in 2024 — the highest amount generated since the Commission’s inception.

The achievement was disclosed at the 2025 meeting of the Asset Disposal Committee, following a presentation by the Proceeds of Crime Department (POCD). The exercise was conducted under the Proceeds of Crime (Recovery and Management) Act (POCA) 2022, which authorizes the Commission to recover, manage, and dispose of assets derived from illicit activities.

According to the report, 10 of the 23 assets were successfully auctioned in December 2024, while seven failed to attract qualifying bids due to offers below the approved threshold or forced-sale value. The remaining six assets were hindered by legal, security, or encroachment issues. Four of the unsold assets have been included in the 2025 disposal programme.

For the ongoing 2025 exercise, the Committee has identified 30 movable and immovable assets for disposal — including four rolled-over assets from 2024, 12 immovable, three movable, and 11 batches of perishable assets newly listed for auction.

A breakdown of the proceeds shows that perishable and scrapped assets yielded ₦3.97 million, off-cycle sales (three assets) brought in ₦975 million, while on-cycle sales (20 assets) generated ₦890 million.

Presiding over the meeting, ICPC Chairman, Dr. Musa Adamu Aliyu, SAN, commended the POCD for its effective execution of the Commission’s mandate, describing asset recovery as a crucial tool in the anti-corruption drive.

“The importance of asset recovery in fighting corruption cannot be overstated. It restores public resources to their rightful use,”
Dr. Aliyu stated.

He emphasized that civil forfeiture offers a faster, more cost-effective, and transparent method for recovering stolen assets, while converting them into public value supports economic growth and rebuilds citizens’ confidence in the anti-corruption system.

Dr. Aliyu reaffirmed that asset disposal remains a core aspect of the ICPC’s mandate under POCA 2022 and related laws, promoting transparency, accountability, and value optimization in the management of forfeited assets for the benefit of both corruption victims and the Nigerian public.

In keeping with the Commission’s commitment to openness and due process, the 2025 meeting was observed by independent representatives from the Bureau of Public Procurement (BPP), Nigeria Labour Congress (NLC), Nigeria Union of Journalists (NUJ), Accountability Lab, and the Centre for Fiscal Transparency and Public Integrity (CeFTPI).

According to the statement signed by the Director, Public Enlightenment and Education /Spokesperson, ICPC,

“Dr. Aliyu lauded the participation of these independent observers, noting that their involvement strengthens public trust and ensures the asset disposal process is conducted with fairness, integrity, and full transparency.”