Chairman of the Economic and Financial Crimes Commission, Ola Olukoyede, has assured Nigerians that assets recovered through anti-corruption investigations will not be mismanaged under his leadership.
Olukoyede made the statement amid renewed debate over whether Nigeria should establish a central agency to manage assets recovered by government institutions.
The EFCC chairman rejected the proposal, arguing that the country’s asset-recovery system is too broad to place all recovered properties and funds under the control of a single institution.
He maintained that recovered assets must be properly managed and accounted for, stressing the importance of transparency in the process.
“No recovered asset will be mismanaged under my watch,” Olukoyede said in his assurance to Nigerians. The statement was widely reported by Nigerian media on Tuesday.
The EFCC has recovered or secured forfeiture orders involving cash, properties and other assets in a number of high-profile investigations.
Olukoyede has previously disclosed that the commission secured forfeiture of cash and assets worth more than $500 million to the Federal Government during his tenure.
The debate over asset management has become increasingly important as government agencies recover properties and funds through criminal and civil forfeiture proceedings.
Olukoyede argued that the existing system should be strengthened rather than replaced with a single institution responsible for every recovered asset.
The EFCC chairman’s latest comments are expected to add to the wider conversation about accountability, transparency and the management of proceeds recovered from financial-crime investigations.