The ICPC supports the sale of crime-related assets, saying such a move would deter criminals

The Independent Commission on Corrupt Practices and Other Related Offenses (ICPC) has supported the release of assets obtained from criminal activity to the public, and described the practice as a powerful strategy to prevent crime and ensure that ill-gotten gains are returned for the public good.

The position was announced on Monday in Abuja by the Acting Director of Results at the ICPC Crime and Management Directorate, Mr. George Lawal, during the opening of bids for forfeited assets being auctioned by the National Drug Law Enforcement Agency (NDLEA).

Lawal, who monitored the conduct of the auction, praised the conduct of the auction, saying that the process complied with the provisions of the Proceeds of Crime (Recovery and Management) Act and reflected a high level of transparency.

According to him, each stage of the exercise was carried out openly, with offers stored safely and opened to the public in the presence of stakeholders.

“The process was very open and transparent. Bids were kept in a secure box and opened in our presence.

“All bids are announced before the successful bidder is finally announced based on the highest responsive bid that meets the agreed reserve price,” he said.

He congratulated the successful participants, while encouraging those who did not obtain assets to remain involved in future auctions.

Lawal emphasized that the recovery and disposal of assets associated with unlawful activities is the primary objective of the Proceeds of Crime Act, and noted that the law is designed to prevent criminals from enjoying the rewards of illegal acts.

He stated that the seizure of these assets sends a strong message to offenders and reduces the attractiveness of criminal enterprises.

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“The aim of this law is to confiscate the proceeds of crime for criminals, and this will certainly have a deterrent effect.

“In the future, all assets identified as proceeds of criminal acts, as well as property used as tools of crime, must be taken over and disposed of by the government for the benefit of the people,” he said.

ICPC officials expressed confidence that consistent enforcement of asset recovery laws will strengthen national efforts to combat crime and increase public confidence in the justice system.

He argues that criminal behavior becomes less attractive when the perpetrator does not gain financial gain from their actions.

“What is certain is that this will help in overcoming crime because if criminals cannot get away with the proceeds of their crimes, then society and the government will be better off,” he said.

Lawal reiterated the commission’s commitment to supporting transparent mechanisms in the recovery and management of assets linked to criminal activities, and added that accountability and compliance with the rule of law remain critical in the fight against corruption and organized crime.

Also speaking at the event, NDLEA Director of Crime Prevention Results, Assistant Commandant General for Narcotics (ACGN) Obiageri Iwuchukwu, said the auction was conducted strictly in accordance with statutory requirements.

He explained that the disposal process is guided by the Proceeds of Crime (Recovery and Management) Act, 2022, as well as other relevant regulations governing recovered assets.

Iwuchukwu thanked the Chairman of NDLEA, retired Brigadier General Buba Marwa, who entrusted him with the responsibility of overseeing the directorate and acknowledged the contribution of the participants and stakeholders in the exercise.

He noted that the support of auction participants, observers, invited guests and institutional personnel made a major contribution to the smooth implementation of the auction.

“Stakeholder engagement remains important to strengthen transparency and accountability in the management and disposal of assets recovered from criminal activities,” he said.

The NDLEA Director reiterated the agency’s determination to ensure that assets obtained from criminal enterprises are managed effectively and used in a manner that serves the public interest.

He also expressed optimism that continued collaboration between government agencies, civil society, and other stakeholders will further strengthen future asset recovery and disposal efforts across the country.