ICPC Reports Recovery of Local and Foreign Assets in One Year Amid Corruption Fight

The Independent Corrupt Practices and Other Related Offences Commission (ICPC) has outlined the assets it recovered in the past year as part of its ongoing anti-corruption efforts. Dr. Musa Adamu Aliyu, ICPC Chairman, shared the details during the Commission’s End of Year Engagement at its Abuja headquarters on Tuesday. He revealed that the agency had recovered ₦29.7 billion in cash, which is currently held in ICPC recovery accounts. Additionally, ₦10.986 billion in Value Added Tax (VAT) has been collected and remitted to the Federal Inland Revenue Service (FIRS), while ₦10 billion allocated for COVID-19 vaccine production has been returned to the national treasury. The total value of assets through final forfeiture amounted to ₦2.5 billion. Aliyu also disclosed that $966,900.83 in foreign currency had been secured and is now in the ICPC-Central Bank of Nigeria (CBN) account. Furthermore, the ICPC completed tracking 1,500 projects valued at ₦610 billion nationwide under the CEPTI Phase 7 initiative. The report from Phase 6, conducted last year, is ready for release. In terms of petition processing and legal actions, the Commission handled 851 petitions, with 342 assigned for investigation. A total of 95 cases were fully investigated, 72 were filed in court, and 16 convictions were achieved. Aliyu emphasized ongoing efforts to streamline processes for quicker and more effective prosecution, including reviving cases that have been in court for 10-15 years.