Tuesday, 7 March 2017

Reps to take inventory of seized items by EFCC

The House of Representatives has resolved to take inventory of assets seized by the Economic and Financial Crimes Commission (EFCC) so as to ascertain their conditions and current values.
The resolution was sequel to a motion presented by Rep. Benson Babajimi (Lagos-APC) on Tuesday in Abuja.
The motion is entitled: “Need to ascertain the dumps and take an inventory of the forfeited assets in possession of the Economic and Financial Crimes Commission, (EFCC)’’.
While moving the motion, Babajimi noted that “pursuant to Section 20(1) of the Economic and Financial Crimes Commission Establishment Act 2004, a person convicted of an offence shall forfeit to the Federal Government, all the assets and properties which may or are the subject of interim order of the court’’.
He also reminded the lawmakers that Section 26 of the Act provided that the commission might seize any property subject to forfeiture after an attachment of such property.
According to him, acting under these provisions, the EFCC, since its establishment in 2003, had seized several movable and immovable properties and assets under interim orders of courts.
He argued that this was in order to preserve the properties/assets and prevent them from being disposed of by the suspects while cases were being investigated or tried.
“Also, be aware that the EFCC maintains dump sites in various parts of the country, where it keeps the movable assets while immovable assets are sealed off.
“Many of these assets have been there for several years while some are already at various stages of decay.
“I am convinced of the need to avoid this needless waste of recovered properties which would otherwise have yielded some much needed revenues to the national treasury,’’ Babajimi moved.
The House, therefore, mandated its Committee on Financial Crimes to carry out an audit of car dumps and inventory of other movable and immovable assets seized by the EFCC to ascertain their conditions and current values.
The committee would make recommendations to the House within six weeks on how to prevent further decay and waste.
The motion was unanimously adopted by members when it was put to a voice vote by the Speaker, Mr Yakubu Dogara. (NAN)


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