Reps pass bill to establish assets management agency

THE House of Representatives on Wednesday passed a bill to establish the Nigerian Assets Management Agency for second reading.

The agency when established would be charged with the responsibility of managing all federal government owned assets including but not limited to assets acquired through court orders, forfeitures and seizures by the Economic and Financial Crimes Commission (EFCC), Independent Corrupt Practices and other Related Offences Commission (ICPC), Nigeria Customs Service (NCS), Nigeria Security and Civil Defence Corps (NSCDC).

The bill was sponsored by Hon Jones Onyereri.

While leading debate on the bill, the lawmaker said that the purpose for the establishment of the agency was to ensure a proper coordination and enforcement of all federal government assets management legal regimes and enforcement powers conferred or any power or authority.

According to him, “if the agency is established it will protect and enhance the long-term economic values of those assets viz-a-viz effective management and disposal of federal government assets”.

According to him, “the agency will collaborate with other government agencies both within and outside Nigeria carrying out similar functions wholly or in part in order to identify and determine the whereabouts of federal government property located and situated in any part of the world as well we ‘coordinating of all existing federal government assets units in Nigeria.”

While supporting the motion, Hon Toby Okechukwu said that many assets seized by AMCON, EFCC, ICPC, Customs and other security agencies often waste away hence the bill seeking the establishment of the agency to manage assets should be supported.

According to him, “such an agency would keep proper records and custody of seized assets saying “we do not need seized assets to waste away.”

However, Hon Aminu Suleiman kicked against the bill saying the establishment of such an agency was an unnecessary saying that, “for me, I am totally and completely against any new agency.”

Also, Hon. Edward Pwajok cautioned that the bill needed to be fine-tuned, stressing that, the intendment of the bill was beautiful but the sponsors must be careful not to create confusion because agencies such as EFCC, ICPC, Police do seize assets with a court order.

He, however, said it should be passed for second reading so that more work will be done on it at the public hearing.