The Independent Corrupt Practices and Other Related Offences Commission (ICPC) has pledged to use a non-conviction-based asset forfeiture to deny corrupt persons the use of stolen funds.
The commission said vulnerable citizens suffer one denial or the other in social service, physical infrastructure ”when N10 million is stolen from public coffers”.
Edo State commissioner of the agency, Barr. Yusuf Olatunji, who read the speech of the agency’s Chairman stated this during the 2019 African Union Anti-Corruption Day held in Benin City, the State capital.
The event has as its theme: ”The Opportunity Cost of Corruption and The Value of Asset Recovery”.
Olatunji said the negative impact of corruption on African continent’s economic development is obvious adding that ”the bulk of an estimated USD90 leaves Africa through illicit financial flow annually”.
He further disclosed that the agency is presently tracking the execution of constituency capital projects in order to ensure that projects are properly executed and delivered.
According to him, ”it is therefore our believe that efforts geared toward recovery of identified stolen wealth would be transformational for our nation.
”Millions of Nigerians suffering denial of basic social services and lack of infrastructures such as hospitals, schools, water and employment will receive succour when stolen assets are recovered.”
