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ICPC begins disposal of forfeited assets in accordance with POCA

The Independent Corrupt Practices and Other Related Offences Commission (ICPC) has commenced the process of disposing of assets forfeited to the Federal Government.
The spokesperson for ICPC, Mrs Azuka Ogugua disclosed this in a statement issued in Abuja on Sunday.
According to her, the process is in line with the Proceeds of Crime Recovery and Management Act (POCA), signed into law by President Muhammadu Buhari on May 12, with a bid opening to select auctioneers.
Ogugua quoted the ICPC Chairman, Prof. Bolaji Owasanoye as hailing the impact of the bill on the anti-corruption war, describing it as a tool ensuring clarity of purpose to asset recovery and management.
Owasanoye noted that the unregulated structure surrounding forfeited assets had often led to huge revenue losses, which ultimately defeated the purpose of recovery.
He further stated that POCA was introduced as a standardised procedure for managing and disposing of forfeited assets.
The ICPC chairman added that it had also set up a governing directorate and ensured that all processes were deliberated upon and executed by professionals who were experts in relevant fields.
This, he said, had promoted transparency and prioritised corruption prevention.
Owasanoye also highlighted the fact that each agency that recovered assets was responsible for the disposal of the forfeited assets, adding that the process was tamper-proof.
“As instructed, all proceeds would be lodged in a dedicated account domiciled in the Central Bank of Nigeria (CBN) and accessible only at the discretion of the National Assembly and the President of the Federal Republic of Nigeria.
“Whatever is gotten at the end of this exercise, there is a dedicated account under the watchful eyes of CBN.
“Nobody has the power to transfer or move anything out of that account, except the National Assembly and the President,” he said.
Speaking on the bill, the ICPC boss said that the commission had an asset recovery and management manual which provided the guidelines for ensuring that all processes were governed and controlled.
He also pointed out that the commission had, in line with POCA, set up a committee comprising board members, directors, representatives of labour, civil society organisations, the media and the Bureau of Public Procurement, to administer the bid process.
Owasanoye expressed delight that the commission was among the first to carry out an auction based on POCA and suggested that the success of the process would ultimately encourage other agencies to follow suit.
The statement added that the bid opening process began with the opening and counting of submitted bids, based on the lots which had been publicly advertised and subjected to stringent terms and conditions.
ICPC begins disposal of forfeited assets in accordance with POCA
Headlines
Tinubu arrives Katsina to receive Buhari’s body for burial

President Bola Tinubu, on Tuesday arrived in Katsina to receive the remains of the former President Muhammadu Buhari, who passed away in London on Sunday at the age of 82.
Headlines
“He Never Turned His Back on the Needy” — Tributes Pour In Ahead of Buhari’s Burial

Just hours before the burial of former President Muhammadu Buhari, heartfelt tributes have continued to pour in from beneficiaries of his many charitable deeds, with many describing him as a man who never turned his back on the needy.
Speaking to the News Agency of Nigeria (NAN) on Tuesday, Aminu Daura, a respected community elder, recalled how Buhari consistently provided foodstuffs during Ramadan for families, friends, widows, and orphans in his hometown.
“He never made noise about it, but many homes had food on their tables during fasting period because of him,” Daura said.
Abdullahi Sani, a physically-challenged man who received a tricycle from the Buhari Foundation in 2021, was overcome with emotion while speaking to NAN.
“I can move around and feed my family today because of Baba Buhari. I pray to Allah to reward him for giving hope to people like me,” he said, in tears.
Hajiya Fatima Yahaya, another resident, remembered Buhari’s acts of kindness during festive seasons.
“Even after he left office, his aides ensured that the usual support still reached us every year. He always remember his people,” she said, referring to his distribution of Sallah rams and food items to indigent families during Eid celebrations.
Other residents of Daura also shared memories of how the late former president quietly paid school fees and medical bills for struggling families, actions rarely publicized.
“Some of us benefited from his silent interventions. He was a true father and a great figure in the society,” said Ali Saidu.
On Monday night, Imams across various mosques in Daura held special Qur’anic recitations, praying for the forgiveness of Buhari’s sins and his eternal peace.
The Chief Imam of Daura Central Mosque, Sheikh Musa Kofar Barau, described Buhari as a humble leader whose legacy of service and compassion would remain alive in the hearts of the people.
Buhari is scheduled to be buried later on Tuesday in his hometown of Daura, Katsina State, in line with Islamic rites. The community is bracing to welcome thousands of mourners from across Nigeria and beyond.
Headlines
King Mohammed VI Mourns Buhari, Praises Legacy of Nigeria’s Former Leader

His Majesty King Mohammed VI of Morocco has extended heartfelt condolences to President Bola Tinubu, the family of the late former President Muhammadu Buhari, and the entire Nigerian people following Buhari’s death.
In a message of sympathy, the Moroccan monarch described the passing of the former Nigerian leader as a “sad occurrence,” expressing deep sorrow over the loss.
King Mohammed VI hailed Buhari as “an illustrious leader who worked untiringly to serve his country’s best interests and lead his people toward further progress and prosperity.”
He added: “Our thoughts and prayers are with you and the bereaved. I share your grief and want you to know how much I appreciated the working sessions I had with the deceased.”
Reflecting on their bilateral engagements, the king noted that his collaboration with Buhari led to the launch of promising development projects, “ushering a new era grounded in friendship and close cooperation between our two sister nations.”
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