FG launches database for assets tracing, recovery

The Attorney General of the Federation (AGF) and Minister of Justice, Abubakar Malami (SAN), on Thursday, launched the Central Database under the Asset Tracing, Recovery and Management Regulations (ARTM), 2019 and the Central Criminal Justice Information System (CCJIS) under the National Anti-Corruption Strategy (NACS) 2017 – 2011 to assist in the fight against corruption.

Speaking at the launch in Abuja, Malami said, the Database will ensure uniformity of process, access and information feeding to deepen transparency and accountability in the management of recovered assets.

To ensure compliance, he said his office is developing legislation for the full implementation and operation of the CCJIS.

“We will work together to establish and re-enact transparency and accountability in governance and management of our resources which we have committed to do by way of strengthening International Cooperation of our membership of Open Government Partnership,” he said.

In his speech, the Speaker of the House of Representatives, Femi Gbajabiamila, represented by the Chairman, House Committee on Justice, Ugonna Ozurigbo said the regulation on Asset Tracing, Recovery and proper management of proceeds of crime was signed on October 24, 2019, and to take effect from November 1, 2019, replaces the proceeds of Crime Regulation of 2012.

The new Regulation Titled, “Asset Tracing, Recovery and Management Regulations 2019,” empowers the AGF to take charge of the custody and management of all final forfeited assets, approval and appointment of Asset managers and operating and maintaining a database for the records of all recovered assets within and outside Nigeria.

He said, the AGF’s office, under the new Regulation, is also required to coordinate inter-agency investigations into recovery matters within and outside Nigeria from all law enforcement agencies whose law empowers them to undertake recoveries and maintaining a depository for all forfeiture orders issued by the Nigeria courts and courts outside Nigeria.

Asset Tracing, Recovery and Management, according to the Speaker, is a core value of good governance and its effective management will serve as a deterrent to would-be fraudulent minded individuals who may find themselves in public offices.

States resources, he said must not be allowed to be stolen but if that happened by fraudulent individuals, efforts must be taken to trace the proceed, recover same and manage for the interest of the generality of the people.

“When the proceeds of crime are traced and recovered but again relooted by government officials, I dare to say such act amounts to the crime of tertiary capacity and must be avoided.

“Assets not accounted for are assets lost; loss of assets undervalues the economic potential of a country and will negatively impact on the net worth of a country. Accordingly, Asset Tracing Recovery and Management is a panacea to rekindling of the value system of a nation,” the Speaker noted.

He disclosed that the United Nations Office on Drugs and Crime (UNODC) reported that about $ 110 billion was being looted annually from the Nigerian treasury and that stolen money stashed in foreign accounts by corrupt Nigeria public office holders increased from $50 billion in 1999 to $170 billion in 2003.

While pointing out that the figure has increased over the years, he said it must not be allowed to continue unabated.

Gbajabiamila said asset tracing, recovery and management of central database will help in addressing asset repatriation to the country of origin through effective coordination of various anti-corruption bodies in the country.

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He assured the AGF of the support of the National Assembly particularly the House of Representatives in areas of oversight and amendments of the legislation when the need arises.

Earlier in his speech, the Solicitor General of the Federation and Permanent Secretary, Dayo Apata (SAN) said the actualisation and development of the Central Database for recovered Assets and the Central Criminal Information system are practical expressions of the present administration’s willingness to have a one-stop information centre were timely and verifiable information sources and provided to all stakeholders.

Apata listed the objectives of the Centralised Database for recovered Assets to include, centralised asset depository for easy coordination for all stakeholders with regards to asset management, provide timely access on all recovered asset within and outside the country and assist in the collection and collation of data for statistical analysis on assets recovered by Nigeria.

Other objectives, according to the Solicitor General include adequate record-keeping to confirm the status of assets whether interim, seized or final forfeiture, strengthens the efficiency of the anti-corruption agencies and law enforcement agencies, prevents the re-looting of recovered assets, assists citizens, civil society organizations and journalists as well as the general public in monitoring recovered assets and disposal of the assets, serves as a reference point and source of information on recovered assets and assisting of researchers with materials and other information regarding recovered assets.

He said the Central Database for recovered assets compliments the Central Criminal Justice Information and will also strengthen the legal, institutional and operational framework designed to prevent and combat corruption.

The scope of the Criminal Justice Information System covers the courts, Nigerian Correctional Service, regulatory and supervisory agencies, law enforcement agencies, academic institutions and associations, among others.

In a message, the Auditor-General of the Federation, Mr A. M. Ayine said the anti-corruption fight will only be relevant if there is transparency and accountability in the management of recoveries of proceeds if crime.

“Over the years, anti-corruption agencies, such as the EFCC, ICPC, Police, DSS and ministry of Justice have recovered several assets of properties and cash arising from proceeds of crime. But Nigeria as a country cannot say at a glance, what is where and how much.

“This is because recovery agencies treat proceeds of crime independently and showcase such when the need arises,” the Auditor-General stated.

He applauded the AGF for the Proceeds of Crime and Management Agency Bill, which the AGF had sought the approval of the Federal Executive Council to transmit to the National Assembly for passage into law.

NIGERIAN TRIBUNE