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Tuesday, June 18, 2024

ICPC recovers N454.805 billion worth of government assets in 4 years

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The Independent Corrupt Practices and other related offences Commission (ICPC) announced that it has successfully recovered government assets valued at N454.805 billion over a span of four years. This significant milestone was revealed by Jude Okoye, the deputy director of Planning, Research, and Statistics at ICPC, during a journalist training session held in Abuja.

Providing a detailed breakdown, Okoye stated that N9.341 billion was recovered in cash and deposited into the ICPC account, while N67.236 billion was retrieved through ICPC Intervention Investigation. Additionally, N257.492 billion worth of funds were restrained through final forfeiture, and N2.865 billion was recovered from the Constituency and Executive Project Tracking Initiatives (CEPTI) alongside other assets. Furthermore, N45.280 billion was reclaimed from CEPTI-completed projects upon the return of contractors.

Through the Constituency and Executive Project Tracking Initiatives, ICPC successfully tracked a total of 3,422 projects, ensuring transparency and accountability in government spending.

Budget tracking efforts also yielded results, with ICPC recovering N26.573 billion in cash through the process.

Alongside the recovery of assets, ICPC has made substantial progress in securing convictions. Within the reviewed period, the commission achieved 90 convictions across 4,737 investigated cases, with several cases still pending in various courts.

In his address, Okoye emphasized the importance of collective support from all Nigerians in the ongoing fight against corruption. He reaffirmed ICPC’s commitment to collaborate with government agencies and development partners to effectively combat corruption in Nigeria.


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