President Bola Tinubu has restated his administration’s strong commitment to recovering all stolen assets across Nigeria. He said the government would use the funds to meet critical developmental needs.
The president made this known on Tuesday in Abuja while opening a National Summit on Asset Recovery. Represented by Mr. Nadungu Gagare, Permanent Secretary for Political and Economic Affairs in the SGF’s Office, Tinubu described asset recovery as both a legal duty and a moral responsibility.
“Recovering stolen public funds and channelling them into development represents justice and restitution,” he said. “It helps restore public trust and ensures that every kobo of our national wealth benefits the people.”
Tinubu noted that his administration is already using recovered assets to fund projects like the Lagos-Ibadan Expressway, Second Niger Bridge, and Abuja-Kano Expressway. He stressed the need for decisive and united action to tackle corruption.
“We must act with courage and purpose. Criminals must lose the profits of their crimes,” he stated. “This will ensure our national wealth truly serves the people.”
He promised to strengthen anti-corruption institutions, enforce transparency, and hold all offenders accountable.
“Our government will continue to recover stolen funds and return them to the Nigerian people. We’ll enforce justice, no matter whose ox is gored.”
FG Reports Major Recoveries from 2024 and Beyond
Attorney-General and Minister of Justice, Mr. Lateef Fagbemi, also spoke at the event. He emphasized that asset recovery plays a key role in fighting corruption, economic crimes, and illicit financial flows.
He said the EFCC recovered over N248 billion, $105 million, and 753 duplexes in 2024 alone. The ICPC recovered N29.7 billion and $966,900, while the NDLEA seized assets linked to drug crimes.
Fagbemi highlighted Nigeria’s success in international asset recovery. From 2017 to 2024, the country repatriated $763.7 million and £6.47 million from partners like the U.S., U.K., Switzerland, Ireland, and Jersey.
“In 2024 alone, we recovered $102.88 million and £2.06 million from cases involving Galactica Assets, Glencore, and Useni/Miner,” he revealed.
He added that negotiations are still ongoing to reclaim more assets held abroad.
The summit drew participants from the U.S. and U.K. embassies, and heads of EFCC, NDLEA, and the Nigerian Financial Intelligence Unit (NFIU).
