The Chairman of the Independent Corrupt Practices and other related Offenses Commission (ICPC), Bolaji Owosanoye, on Wednesday said the Commission has so far recovered over N7 billion looted funds and other proceeds of corruption .
He said this when he appeared before the House of Representatives adhoc committee investigating the status of all recovered loots and assets from 2002 – 2020 by agencies of Federal Government.
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He said of the recovered amount, about N5.5 billion has been transferred from the Commission’s assets’ recovery account to the Federal Government while about N2.1 billion is currently in the asset recovery account.
When queried about the low rate of recoveries made by the Commission, Owosanoye said it was due to the preventive measures taken to checkmate corrupt activities in the country.
He pointed out that it would be helpful if the National Assembly passes the Proceeds of Crimes Bill before it saying it would go a long way in strengthening the fight against corruption.
The adhoc committee in the course of the cross examination queried the discrepancies between transactions in some of the documents presented by the ICPC in comparison with what was obtained from the CBN.
The committee therefore directed that the ICPC boss to bring all its accounts’ statements before it at the next sitting.
