The Independent Corrupt Practices and Other Related Offences Commission (ICPC) says it realized a total of ₦1,868,969,400.00 from the disposal of 23 forfeited assets in 2024 — the highest revenue generated from asset disposal since the Commission’s inception.
The disclosure was made during the 2025 meeting of the ICPC Asset Disposal Committee, following a report presented by the Proceeds of Crime Department (POCD). The exercise was conducted in compliance with the Proceeds of Crime (Recovery and Management) Act (POCA) 2022, which mandates the Commission to recover, manage, and dispose of assets linked to illicit activities.
According to the report, 10 assets were successfully auctioned in December 2024, while seven others could not be sold due to low bids below the approved thresholds. Another six assets were affected by legal, security, or encroachment issues, with four unsold properties rolled over into the 2025 disposal programme.
For 2025, the Committee has listed 30 movable and immovable assets for disposal, including four rolled-over assets, 12 immovable assets, three movable assets, and 11 batches of perishable items.
A breakdown of the proceeds showed that perishable and scrapped assets accounted for ₦3.97 million, off-cycle disposal sales (three assets) generated ₦975 million, while on-cycle disposal sales (20 assets) yielded ₦890 million.
ICPC Chairman, Dr. Musa Adamu Aliyu, SAN, who presided over the meeting, praised the POCD for effectively implementing the Commission’s asset recovery mandate. He emphasized that asset forfeiture remains a powerful deterrent to corruption.
“The significance of asset recovery in the fight against corruption cannot be overstated. It serves as a vital mechanism for restoring public resources to their rightful use,” Dr. Aliyu said.
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He added that civil forfeiture offers a faster and more transparent approach to recovering stolen assets, while the conversion of confiscated assets into public value contributes to economic growth and public trust in anti-corruption efforts.
In line with ICPC’s transparency policy, the 2025 Asset Disposal Committee meeting was observed by representatives from the Bureau of Public Procurement (BPP), Nigeria Labour Congress (NLC), Nigeria Union of Journalists (NUJ), Accountability Lab, and the Centre for Fiscal Transparency and Public Integrity (CeFTPI).
Dr. Aliyu commended the participation of these observers, saying it strengthens public confidence and ensures that the disposal process is conducted with fairness, integrity, and accountability.
