Fight against Corruption: PACAC expanded capacity within anti-corruption agencies – APC LAC

Tom Okpe, Abuja

The All Progressives Congress, (APC) Legacy Awareness and Campaign has stated that the present administration’s fight against corruption is yielding fruitfully with the introduction of Presidential Advisory Committee against Corruption, (PACAC) which has helped to expand capacity within anti-corruption agencies.

The ruling partys’ think-tank group said One outcome of this is the significant increase in the use of Non-Conviction Based Asset Forfeiture Mechanisms (Interim and Final Forfeitures) by the country’s anti-corruption agencies.

In a statement released in Abuja on Thursday, signed by its national coordinators; Barr Ismail Ahmed, Lanre Issa-Onilu, Tolu Ogunlesi and Salihu Moh. Lukman emphasised that: “One of the first things the President did upon assumption of office was the establishment of the Presidential Advisory Committee Against Corruption (PACAC), which has helped expand technical capacity within Nigeria’s anti-corruption agencies, as well as within the Judiciary.

“Under the present APC administration. led by President Muhammadu Buhari’s watch, the Federal Government has prioritized the recovery and return of stolen assets belonging to the Nigerian people.

“High-profile recoveries include $322m Abacha Loot from the Government of Switzerland; $311m Abacha Loot from the Bailiwick of Jersey; $100m recovered by the EFCC for the Nigerian Ports Authority (NPA), from a company operating in the oil and gas sector; 4.2 million pounds sterling, Ibori Loot from the United Kingdom Government;

53b Naira for the Federal Mortgage Bank of Nigeria (FMBN), from a real estate developer; $43m security funds from an apartment in Ikoyi; and 189b Naira in ‘restrained’ funds from inflated personnel budgets, following ICPC’s scrutiny of practices, systems and procedures of MDAs’ personnel cost from 2019 to 2020.”

The group also said Billions of Naira in pension funds have been recovered from local and foreign Insurance Companies who have been holding on to assets of the Pension Transitional Arrangement Directorate (PTAD).

“ICPC’s audit of Constituency Projects covering 2015 to 2018, recovered 2 billion Naira of diverted funds and assets, and also forced about 300 contractors to return to site to complete abandoned or poorly-executed projects.

“In August 2021, the ICPC commenced the third Phase of this Constituency and Executive Projects Tracking Exercise. In 2019 alone, ICPC also recovered 32 billion Naira worth of Land, Buildings and Vehicles.

“In 2021, the EFCC and ICPC continued their recovery efforts, with billions of Naira in cash assets already recovered, either through Interim or Final Forfeiture Orders.

“Since the President assumed office in 2015, close to a Trillion Naira worth of stolen funds and assets have been recovered.

“All final forfeitures are being deployed for use in the Government’s special Infrastructure and Social Investment Programmes, or put into the annual Budget.

“The most recent Abacha and Ibori Loots were transferred to the Nigeria Sovereign Investment Authority (NSIA), for transparent management under the Presidential Infrastructure Development Fund (PIDF),” LAC stressed.

The think-tank group further pointed that in addition to looted and hidden funds, the Buhari administration also, focused on ensuring that taxes and other debts owed the Federal Government are recovered.

“To this end, the Federal Ministry of Finance launched the Voluntary Assets and Income Declaration Scheme (VAIDS) in 2017, and the Voluntary Offshore Asset Regularization Scheme (VOARS) in 2018.

“VAIDS was followed by the launch of Project Lighthouse in 2018, by the Federal Ministry of Finance, as a data-mining initiative that aggregates tax, income and asset data from individuals and companies, enabling the Government to have a full picture of levels of tax compliance.

“So far, Project Lighthouse has identified debts in excess of 5 trillion Naira, owed the Federal Government by individuals and corporate entities, with recoveries ongoing.

“The automation of issuance and management of Import Duty Exemption Certificates, ongoing rollout of a national vehicle registry (which will help bring an end to the evasion of vehicle duties), and the Customs Single Window project are avenues of generating income.

“The successful rollout of the Automated Payment System for the Abuja-Kaduna Standard Gauge Rail Line is another step in this direction.”

The group however noted that President Buhari is laying solid anď sustainable foundation for Nigerias’ greatness and will continue to ensure that Government monies and revenue are safeguarded and put to the most efficient and transparent use for the benefit of the Nigerian people adding; “APC is working to rebuild Nigeria after years of neglect and destructions.”