Buhari: Recovered assets unaccounted for

The president said this at the State House in Abuja Wednesday while inaugurating the Audit Committee on the Recovery and Management of Stolen Assets within and outside Nigeria. Members of the committee are Olufemi Lijadu, Chinyere Bibiogha and Mohammad Nami.

He asked the committee to recall that pursuant to the resolve of his administration since its inception to pursue a strong and effective anti-corruption regime, and in view of the multiple cases of mismanaged and  misappropriated national assets identified upon his assumption of office, the Federal Government embarked on tracing and recovery of all such stolen assets within and outside Nigeria using all legal and diplomatic resources at our disposal.

 He said the gains of our initiatives over the past two and a half years had been very obvious to all Nigerians as this was clear from the level of investigation, prosecution and forfeitures involving both public and private sector officials in the country.

Buhari said the message had therefore been passed loud and clear that “never again as a nation are we going to allow the wanton diversion and embezzlement of public funds to private pockets.”

He said Nigerians would further recall that pursuant to requisite directives, recovered assets were progressively being returned to designated accounts by the anti-graft agencies and other agencies of government involved with the process.

The president, however, stressed that “In the course of implementing this exercise and given the number of agencies who are concurrently pursuing specialized initiatives and making recoveries for government, it has become obvious that fundamental gaps still exist in ensuring that the recovered assets are accounted for, and managed in an accurate, transparent and logical manner.

He explained that it was in realization of this and due to hus determination to ensure that in pursuing the anti-graft war, new room was not created for dishonorable conduct by any individual or agency that he directed, earlier in the year, that all agencies should send in detailed reports of all their recovered assets as at March, 2017.

He said the decision to inaugurate the audit committee was therefore the next step in ensuring that all returns filed by the various agencies are accurate and consistent with actual recoveries made.

He said the committee was therefore expected to judiciously undertake an audit of all recovery accounts established by government agencies from the date of opening such accounts up to 10th April, 2017.

The president noted that the details of the committee’s functions were as set out in its terms of reference.

Congratulating members of the committee on their appointment, he urged them to perform their duties diligently in the best interests of Nigeria.

 The president directed and requested all relevant ministries, departments and agencies as well as banks and companies to give the committee full cooperation “as your assignment is crucial not only to the harvesting of needed resources for our national development but also in setting out a fresh template of public accountability.”

According to him, where it becomes necessary, the committee will of course rely on existing laws to compel the production of information and will also have the benefit of necessary interventions by the Attorney-General of the Federation and Minister of Justice in obtaining such information through legal processes where so required.

President Buhari gave the committee a time frame of four weeks to finish its assignment and submit its report to his office.

The president said he looked forward to receiving its report and recommendations in due course, wish them ‘the best of luck in this assignment.” DAILY TRUST