Ebun Olowu
The Federal Executive Council (FEC) has approved the establishment of a new anti-corruption agency that will be charged with the responsibility of coordinating all recovered looted assets.
The Minister of Justice and Attorney General of the Federation, Abubakar Malami, disclosed this on September 16 2020, to state house correspondents after the FEC meeting.
According to him, assets recovered have been in the hands of several agencies, stating that better coordination will encourage international and overall coordination in recovering more looted assets.
He said the new anti-corruption agency will be named ‘Proceeds of Crime Recovery and Management Agency’, adding that the council has approved transmission of a bill, titled, “Proceeds of Crime Recovery and Management Agency Bill” to the National Assembly.
He said once the bill becomes law and the agency is established, it would see to proper documentation and management of such recovered assets and thereby guarantee transparency and accountability.
