By Charles Ogba
Nigeria’s anti-graft agency, the Independent Corrupt Practices and Other Related Offences Commission (ICPC), has announced a historic milestone in its anti-corruption drive, generating ₦1.87 billion from the auction of 23 forfeited assets in 2024, the highest recovery since the agency’s inception.
The figure, revealed during the 2025 meeting of the ICPC Asset Disposal Committee, underscores Nigeria’s intensified efforts to recover and repurpose wealth stolen through corruption.
The proceeds were realised under the Proceeds of Crime (Recovery and Management) Act (POCA) 2022, which mandates transparent recovery and disposal of assets derived from illicit activities.
According to the ICPC’s Proceeds of Crime Department (POCD) report, ten assets were successfully auctioned in December 2024, while seven failed to sell due to low bids, and six faced legal or security constraints.
Four unsold assets have been rolled over into the 2025 disposal programme, which will feature the auction of 30 movable and immovable assets, including perishable goods.
A breakdown of the 2024 asset sales shows ₦3.97 million realised from perishable and scrapped assets, ₦975 million from off-cycle sales, and ₦890 million from on-cycle disposals.
Presiding over the committee meeting, ICPC Chairman, Dr Musa Adamu Aliyu, SAN, hailed the achievement as a powerful demonstration of Nigeria’s resolve to reclaim stolen wealth.
“The significance of asset recovery in the fight against corruption cannot be overstated,” Dr Aliyu said. “It serves as a vital mechanism for restoring public resources to their rightful use.”