{"id":24157,"date":"2025-10-23T17:14:55","date_gmt":"2025-10-23T17:14:55","guid":{"rendered":"https:\/\/newsreservoir.com\/?p=24157"},"modified":"2025-10-23T17:46:12","modified_gmt":"2025-10-23T17:46:12","slug":"icpc-generates-record-%e2%82%a61-86-billion-from-2024-asset-disposal-exercise","status":"publish","type":"post","link":"https:\/\/newsreservoir.com\/?p=24157","title":{"rendered":"ICPC Generates Record \u20a61.86 Billion from 2024 Asset Disposal Exercise"},"content":{"rendered":"<div dir=\"auto\"><strong><br \/>\nICPC Generates Record \u20a61.86 Billion from 2024 Asset Disposal Exercise<\/strong>Zainab Tanimu<\/p>\n<p>Kaduna, Northwest Nigeria<\/p>\n<p>The Independent Corrupt Practices and Other Related Offences Commission (ICPC) has recorded a historic milestone in its asset disposal operations, realizing a total of\u00a0<strong>\u20a61.86 billion<\/strong>\u00a0from the sale of\u00a0<strong>23 forfeited assets in 2024<\/strong>\u00a0\u2014 the highest amount generated since the Commission\u2019s inception.<\/p>\n<p>The achievement was disclosed at the\u00a0<strong>2025 meeting of the Asset Disposal Committee<\/strong>, following a presentation by the\u00a0<strong>Proceeds of Crime Department (POCD)<\/strong>. The exercise was conducted under the\u00a0<strong>Proceeds of Crime (Recovery and Management) Act (POCA) 2022<\/strong>, which authorizes the Commission to recover, manage, and dispose of assets derived from illicit activities.<\/p>\n<p>According to the report,\u00a0<strong>10 of the 23 assets<\/strong>\u00a0were successfully auctioned in December 2024, while\u00a0<strong>seven<\/strong>\u00a0failed to attract qualifying bids due to offers below the approved threshold or forced-sale value. The remaining\u00a0<strong>six assets<\/strong>\u00a0were hindered by legal, security, or encroachment issues. Four of the unsold assets have been included in the\u00a0<strong>2025 disposal programme<\/strong>.<\/p>\n<p>For the ongoing\u00a0<strong>2025 exercise<\/strong>, the Committee has identified\u00a0<strong>30 movable and immovable assets<\/strong>\u00a0for disposal \u2014 including\u00a0<strong>four rolled-over assets<\/strong>\u00a0from 2024,\u00a0<strong>12 immovable<\/strong>,\u00a0<strong>three movable<\/strong>, and\u00a0<strong>11 batches of perishable assets<\/strong>\u00a0newly listed for auction.<\/p>\n<p>A breakdown of the proceeds shows that\u00a0<strong>perishable and scrapped assets<\/strong>\u00a0yielded\u00a0<strong>\u20a63.97 million<\/strong>,\u00a0<strong>off-cycle sales (three assets)<\/strong>\u00a0brought in\u00a0<strong>\u20a6975 million<\/strong>, while\u00a0<strong>on-cycle sales (20 assets)<\/strong>\u00a0generated\u00a0<strong>\u20a6890 million<\/strong>.<\/p>\n<p>Presiding over the meeting,\u00a0<strong>ICPC Chairman, Dr. Musa Adamu Aliyu, SAN<\/strong>, commended the POCD for its effective execution of the Commission\u2019s mandate, describing asset recovery as a crucial tool in the anti-corruption drive.<\/p>\n<p>\u201cThe importance of asset recovery in fighting corruption cannot be overstated. It restores public resources to their rightful use,\u201d<br \/>\nDr. Aliyu stated.<\/p>\n<p>He emphasized that\u00a0<strong>civil forfeiture<\/strong>\u00a0offers a faster, more cost-effective, and transparent method for recovering stolen assets, while converting them into public value supports\u00a0<strong>economic growth<\/strong>\u00a0and rebuilds\u00a0<strong>citizens\u2019 confidence<\/strong>\u00a0in the anti-corruption system.<\/p>\n<p>Dr. Aliyu reaffirmed that asset disposal remains a core aspect of the ICPC\u2019s mandate under POCA 2022 and related laws, promoting\u00a0<strong>transparency, accountability<\/strong>, and\u00a0<strong>value optimization<\/strong>\u00a0in the management of forfeited assets for the benefit of both corruption victims and the Nigerian public.<\/p>\n<p>In keeping with the Commission\u2019s commitment to\u00a0<strong>openness and due process<\/strong>, the 2025 meeting was observed by independent representatives from the\u00a0<strong>Bureau of Public Procurement (BPP)<\/strong>,\u00a0<strong>Nigeria Labour Congress (NLC)<\/strong>,\u00a0<strong>Nigeria Union of Journalists (NUJ)<\/strong>,\u00a0<strong>Accountability Lab<\/strong>, and the\u00a0<strong>Centre for Fiscal Transparency and Public Integrity (CeFTPI)<\/strong>.<\/p>\n<p>According to the statement signed by the Director, Public Enlightenment and Education \/Spokesperson, ICPC,<\/p>\n<p>&#8220;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\u00a0<strong>fairness, integrity, and full transparency<\/strong>.&#8221;<\/p>\n<\/div>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>ICPC Generates Record \u20a61.86 Billion from 2024 Asset Disposal ExerciseZainab Tanimu 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\u00a0\u20a61.86 billion\u00a0from the sale of\u00a023 forfeited assets in 2024\u00a0\u2014 the highest amount generated since the Commission\u2019s inception. The [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":24158,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[7],"tags":[],"class_list":["post-24157","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-world-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.3.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>ICPC Generates Record \u20a61.86 Billion from 2024 Asset Disposal Exercise -<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/newsreservoir.com\/?p=24157\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"ICPC Generates Record \u20a61.86 Billion from 2024 Asset Disposal Exercise -\" \/>\n<meta property=\"og:description\" content=\"ICPC Generates Record \u20a61.86 Billion from 2024 Asset Disposal ExerciseZainab Tanimu 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\u00a0\u20a61.86 billion\u00a0from the sale of\u00a023 forfeited assets in 2024\u00a0\u2014 the highest amount generated since the Commission\u2019s inception. 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