By Newspot Nigeria News Desk
The Independent Corrupt Practices and Other Related Offences Commission (ICPC) has achieved a historic milestone in its anti-corruption efforts, generating a record ₦1.86 billion from the disposal of forfeited assets in 2024 — the highest amount since the agency’s establishment.
This landmark achievement was announced during the 2025 meeting of the ICPC Asset Disposal Committee, following a detailed presentation by the Proceeds of Crime Department (POCD). Conducted under the Proceeds of Crime (Recovery and Management) Act (POCA) 2022, the exercise enabled the Commission to recover, manage, and dispose of assets derived from illicit activities.
According to the report, a total of 23 assets were disposed of in 2024. Out of these, 10 were successfully auctioned in December 2024, while seven were unsold due to low bids below approved thresholds. Six others faced legal, security, or encroachment challenges, with four unsold assets rolled over into the 2025 disposal programme.
For the ongoing 2025 exercise, 30 movable and immovable assets have been presented for disposal. These include four rolled-over assets from 2024, twelve immovable assets, three movable assets, and eleven batches of perishable assets.
A breakdown of proceeds revealed:
- Perishable/scrapped assets: ₦3,969,400.00
- Off-cycle disposal sales (3 assets): ₦975,000,000.00
- On-cycle disposal sales (20 assets): ₦890,000,000.00
ICPC Chairman, Dr. Musa Adamu Aliyu, SAN, commended the Proceeds of Crime Department for the achievement, emphasizing that depriving the corrupt of their illicit wealth is one of the most effective strategies in combating 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 stated.
He added that civil forfeiture provides a faster, cheaper, and more transparent approach to reclaiming stolen assets, turning confiscated wealth into public value that supports national economic growth and restores public trust in the anti-corruption process.
Observers 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) were present at the meeting, reaffirming ICPC’s commitment to transparency, fairness, and integrity in asset disposal operations.
Dr. Aliyu concluded that the Commission remains resolute in ensuring all recovered assets are converted into proceeds that benefit victims of corruption and the Nigerian public.
Signed:
Demola Bakare, fsi
Director, Public Enlightenment and Education /
Spokesperson for the Commission
Original Statement
(As released by the Independent Corrupt Practices and Other Related Offences Commission on Wednesday, 22nd October 2025)
INDEPENDENT CORRUPT PRACTICES AND OTHER RELATED OFFENCES COMMISSION (ICPC)
PRESS RELEASE
Wednesday 22nd October, 2025
ICPC Records Landmark ₦1.86 Billion from 2024 Asset Disposal — Highest Since Inception
The Independent Corrupt Practices and Other Related Offences Commission (ICPC) has achieved a major milestone in its asset disposal operations, realizing a total of ₦1,868,969,400.00 from the auction of 23 forfeited assets in 2024 — the highest amount recorded since the Commission’s establishment.
This achievement was announced during the 2025 meeting of the Asset Disposal Committee, following a report presented by the Proceeds of Crime Department (POCD).
The exercise was carried out in line with the Proceeds of Crime (Recovery and Management) Act (POCA) 2022, which empowers the Commission to recover, manage, and dispose of assets derived from illicit activities.
According to the report, out of the 23 assets disposed of in 2024, 10 were successfully auctioned in December 2024, while seven could not be sold due to low bids that fell below the approved threshold or forced-sale value.
The remaining six assets were affected by legal, security, or encroachment challenges. Four (4) unsold assets have been rolled over into the 2025 disposal programme.
For the 2025 exercise, the Committee has presented 30 movable and immovable assets for disposal. These include four (4) rolled-over assets from 2024, twelve (12) immovable assets, three (3) movable assets, and eleven (11) batches of perishable assets newly enrolled for auction.
A breakdown of the amount of money realized from the disposal revealed that perishable/scrapped assets stood at ₦3,969,400.00, Off-cycle disposal sales (3 No. assets) valued at ₦975,000,000.00, while On-Cycle Disposal Sales (20 No. Assets) is valued at ₦890,000,000.00.
Presiding over the meeting, the ICPC Chairman, Dr. Musa Adamu Aliyu, SAN, commended the Proceeds of Crime Department for its effective implementation of the Commission’s mandate and emphasized that depriving the corrupt of their illicit gains remains one of the most potent strategies in combating 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 noted.
Dr. Aliyu further explained that civil forfeiture provides a faster, cheaper, and more transparent means of recovering stolen assets, while the conversion of confiscated assets into public value enhances national economic growth and rebuilds public confidence in the anti-corruption process.
He reiterated that asset disposal is a critical aspect of ICPC’s responsibilities under POCA 2022 and other enabling laws, aimed at promoting transparency, accountability, and value optimization in the conversion of forfeited assets into proceeds that benefit both victims of corruption and the Nigerian public.
In line with ICPC’s commitment to transparency and due process, the 2025 Asset Disposal Committee meeting was observed by independent 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 presence of these observers, noting that their participation reinforces public trust and ensures that the asset disposal process is conducted with fairness, integrity, and full transparency.
Signed
Demola Bakare, fsi
Director, Public Enlightenment and Education/Spokesperson for the Commission
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