In the midst of Ibori loot controversy, chairman of the Economic and Financial Crimes Commission (EFCC), Mr. Abdulrasheed Bawa, has said that assets recovered from former governors should be returned to the states where they were looted.
Speaking on the NTA morning programme ‘One-on-One’ Bawa said the law states that assets recovered from former governors should be returned to the affected states.
“When it comes to this issue of recovered assets, the provision of the law is very clear. There are victims of these crimes. Somebody has gotten somebody’s money fraudulently and assets are recovered from that individual. Of course, it will be returned to him (the victim).
“State government lost money through its former governor; assets are recovered from that former governor. Of course, it will be returned to the state. Other assets that are recovered for the federal government, it will be returned to the federal government.
“But there are stages. Issues of identification, tracing, and recovery of assets are there; all these are stages. Of course, before trial is concluded in court where matters are charged, those assets recovered through interim forfeiture are managed by us.
“And the EFCC has a full-fledged directorate of assets forfeiture and management that manages these assets. Normally, we engage estate managers to manage these assets, and proceeds from the rents are kept in an account with the Central Bank of Nigeria. And then at the end of the trial, after the pronouncement of the court, whosoever is the victim, needs to be restituted. And if what the law says is that it should be sold, then after the sale of the assets, the proceeds, if it is for the federal government, will be put in the consolidated revenue fund.”
It would be recalled that the £4.2 million loot recovered from the former governor of Delta State, Mr. James Ibori after the UK government had made a commitment to return it to Nigeria, has pitted the federal government on the hand against the Delta State government and some legal practitioners on the other.
The controversy centres on whether the state or federal government should be the recipient of the fund.
The attorney general and minister of justice, Mr. Abubakar Malami, said the recovered loot will be channelled into federal projects.
However, Lagos lawyer, Mr. Femi Falana argued that since the money was taken from the coffers of the Delta State, it belongs to the state.
He stated that the federal government has no authority over the Ibori loot.
Similarly, the governor of Delta State, Dr Ifeanyi Okowa said if the money cannot be sent to the state’s coffers, it should be spent on projects in the state.
