On Tuesday, the House of Representatives mandated a thorough audit of all public assets that have been seized, managed, or repatriated by government bodies since Nigeria transitioned to democracy in 1999. In addition to this audit, legislators are pushing for the creation of a digital national registry to oversee recovered property, aiming to boost transparency and public accountability.
The proposal was introduced by Representative Ibe Okwara Osonwa, who represents the Arochukwu/Ohafia Federal Constituency. During his address, Osonwa pointed out that the current lack of a centralized system has led to poor documentation and difficulty in tracking the value and location of these assets. He noted that existing laws, including the 1999 Constitution and the Proceeds of Crime Act of 2022, provide the necessary authority for such oversight.
Lawmakers expressed frustration that despite massive recoveries from anti-corruption and security operations, there is no single database to track items such as real estate, cash, vehicles, and shares. Osonwa warned that inadequate record-keeping has likely caused asset deterioration and revenue losses. Speaker Tajudeen Abbas led the voice vote that resulted in the motion’s unanimous adoption.
Following this vote, the House officially requested that the Federal Government perform a comprehensive verification of all assets handled by agencies, ministries, and courts over the last twenty-five years. Proponents believe this digital registry will minimize corruption and restore public trust in the state’s asset management processes.
