The Acting Executive Chairman of the Economic and Financial Crimes Commission (EFCC), Abdulkarim Chukkol, urged law enforcement agencies to make use of the newly enacted Proceeds of Crime (Recovery and Management) Act, 2023 to enhance their efforts in tracing and recovering illicit assets. The ultimate goal is to maximize benefits for the country.
Chukkol conveyed this message during the opening ceremony of a 4-day capacity building workshop on the Proceeds of Crime, held at the EFCC Academy in Abuja. He emphasized that the EFCC is determined to lead the charge in enforcing the POCA and its various departments, particularly the Proceeds of Crime Management Department, are fully committed to aligning with the administration’s economic recovery and development strategies. These strategies prioritize crime prevention and the uncompromising retrieval of assets unlawfully acquired from the nation.
In his remarks, the Commandant of the EFCC Academy, Commander Ayo Olowonihi, underscored the importance of depriving criminals of the benefits derived from their unlawful activities.
Addressing the underlying reasons for the proliferation of crime, Professor Akinseyi George, President of the Center for Socio-Legal Studies, identified greed as a significant driver. Criminals have grown indifferent to the consequences of imprisonment because they know they can enjoy the proceeds of their crimes after serving their sentences. The POCA is designed to put an end to this disturbing trend.
Representing the Solicitor General of the Federation and Permanent Secretary, Federal Ministry of Justice, Beatrice Jedy-Agba, A.B. Abubakar described the POCA as a vital piece of legislation born out of necessity. It stands as a landmark law that provides a comprehensive scheme and outlines processes and procedures for tracing, restraining, seizing, confiscating, forfeiting, and managing properties derived from unlawful activities. Efforts are underway to establish a standardized automated asset forfeiture management system, enhancing the effective implementation of the Act’s provisions.
The Chairman of the Independent Corrupt Practices and Other Related Offences Commission (ICPC), Professor Bolaji Owasanoye, SAN, represented by Adedayo Kayode, stressed the importance of preserving seized assets to prevent their deterioration. By doing so, the government can maximize the value obtained when these assets are disposed of properly.
