The Federal Executive Council (FEC) has approved the establishment of a new anti-corruption agency that will be charged with the responsibility of coordinating all recovered looted assets.
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The Minister of Justice and Attorney General of the Federation, Abubakar Malami, disclosed this yesterday, Sept. 16,2020, to state house correspondents after the FEC meeting
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He explained that assets recovered have been in the hands of several agencies and that better coordination will encourage international/overall coordination in recovering more looted assets.
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He said the new anti-corruption agency will be named ‘Proceeds of Crime Recovery and Management Agency’. He added that the council has approved transmission of a bill, titled, “Proceeds of Crime Recovery and Management Agency Bill,” to the National Assembly.
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He said once the bill becomes law and the agency is established, it would see to proper documentation and management of such recovered assets and thereby guarantee transparency and accountability.
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