FG To Setup Recovered Assets Management Agency

Following the looting of recovered funds by embattled EFCC Boss, Ibrahim Magu, and others, the Federal Government has sent a bill for the establishment of Proceeds of Crime Recovery and Management Agency to the National Assembly.

According to the Minister Justice, Abubakar Malami who addressed some reporters after the meeting on Wednesday at the State House, the agency is to manage all recovered funds/funds across the country.

“The Office of the Attorney General and the Federal Ministry of Justice presented a council memo today. The council memo is about a bill which sought the approval of the council to transmit to the National Assembly for passage a bill on the management of recovered assets.

“It is a Proceeds of Crime Recovery and Management Agency Bill. It is in essence, a bill that is targeted and intended to have in place, a legal and institutional framework.

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