Musa Aliyu, ICPC chairman
The Independent Corrupt Practices and Other Related Offences Commission (ICPC) says it realised N1.86 billion from the auction of forfeited assets in 2024—the highest amount recorded since its establishment.
Demola Bakare, ICPC spokesperson, said in a statement on Wednesday that amount was announced during the 2025 meeting of the asset disposal committee, following a report presented by the proceeds of crime department (POCD).
Bakare said Musa Aliyu, chairman of the ICPC, presided over the meeting.
Quoting the report, the ICPC spokesperson said the report shows that 10 out of the 23 assets disposed of in 2024 were successfully auctioned in December of that year, noting that seven could not be sold due to low bids that fell below the approved threshold or forced-sale value.
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Bakare said the remaining six assets were affected by legal, security, or encroachment challenges, adding that four 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,” the statement reads.
“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.
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“A breakdown of the amount of money realized from the disposal revealed that perishable/scrapped assets stood at N3,969,400.00, off-cycle disposal sales (3 No. assets) were valued at N975,000,000.00, while on-cycle disposal sales (20 No. assets) is valued at N890,000,000.00.”
During the meeting, the ICPC chairman said depriving the corrupt of their illicit gains is one of the most potent strategies in combating corruption in Nigeria.
He stressed that asset disposal is 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”.
“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,” he said.
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Bakare said the 2025 asset disposal committee meeting was observed by representatives from the Bureau of Public Procurement (BPP), the Nigeria Labour Congress (NLC), the Nigeria Union of Journalists (NUJ), Accountability Lab, and the Centre for Fiscal Transparency and Public Integrity (CeFTPI).
