Obasanjo Heads Committee to Verify Asset Recovered From Looters

An inter-agency Presidential Committee on Asset Recovery, PCAR, has been set up by the Federal Government to strengthen the  government on-going fight against corruption.

Lai Mohammed, Information and Culture Minister, yesterday disclosed this while receiving the Special Representative of the UN Secretary-General for West Africa in Abuja.

The minister who called for the support of the UN in fighting corruption said that the PCAR was set up on the recommendation of the Presidential Advisory Council Against Corruption.

He said the committee headed by the Vice President, Prof. Yemi Osinbajo will oversee the anti-corruption agenda and coordinate asset recovery process.

The minister said that the committee is coordinating the collation and categorisation of recovered asset from 2015-2016.

He said it would verify the records and status of physical assets such as buildings recovered under previous administration.

He said the Federal Government was determined to recover all asset illicitly acquired by public officers and other politically exposed persons.

Mr. Mohammed disclosed that measures were under way to enhance recovery of illegally acquired asset and they will be announced from time to time.

“To encourage whistle-blowers, the government is also considering an incentive framework for those who provide useful information that lead to recovery of stolen or illegally concealed public assets.

“Government is soliciting the support of Nigerians in Diaspora and international NGOs in the
campaign for asset return from foreign governments,” he said.

The minister reiterated that Nigeria remained determined and focused in stemming corruption, which is part of the reasons that the country is suffering from economic recession.

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