The Acting Executive Chairman of the Economic and Financial Crimes Commission (EFCC), Abdulkarim Chukkol, urged law enforcement agencies to utilize the Proceeds of Crime (Recovery and Management) Act, 2023, to enhance their efforts in tracing and recovering assets, ultimately benefiting the country. Chukkol made this statement during the opening ceremony of a 4-day capacity building workshop on the Proceeds of Crime at the EFCC Academy in Abuja.
Chukkol emphasized that the Commission is committed to taking the lead in enforcing the POCA, particularly the Proceeds of Crime Management Department, aligning with the administration’s focus on crime prevention and uncompromising asset recovery from those who obtained them illegally.
Ayo Olowonihi, the Commandant of EFCC Academy, echoed the importance of depriving criminals of the benefits they gain from their illegal activities.
Professor Akinseyi George, President of the Center for Socio-Legal Studies, highlighted greed as the primary driver of crime, as criminals are now less concerned about going to prison, knowing they can enjoy the proceeds of their crimes afterward. POCA aims to put an end to this trend.
Beatrice Jedy-Agba, the Solicitor General of the Federation and Permanent Secretary, Federal Ministry of Justice, stressed that POCA is a necessary and groundbreaking legislation that sets out a comprehensive scheme and procedures for tracing, restraining, seizing, confiscating, forfeiting, and managing properties acquired through unlawful activities. There are efforts to establish a standardized automated asset forfeiture management system to effectively implement the Act’s provisions.
The Chairman of the Independent Corrupt Practices and Other Related Offences Commission (ICPC), Professor Bolaji Owasanoye, SAN, represented by Adedayo Kayode, emphasized the importance of preserving seized assets to ensure the government obtains good value when disposing of them. This step would prevent the assets from deteriorating and losing their value.
In summary, the Acting EFCC Chairman called on law enforcement agencies to leverage the new Proceeds of Crime (Recovery and Management) Act, 2023, to improve asset tracing and recovery for the nation’s benefit. Various stakeholders expressed their commitment to tackling the issue of crime-driven by greed and ensuring the effective implementation of POCA to prevent criminals from enjoying their ill-gotten gains. Preserving seized assets was also highlighted as a crucial aspect of the process to maximize their value during disposal.
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