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Lawmakers Advocate Conversion Of Forfeited And Abandoned Property For Public Use
Lawmakers Advocate Conversion Of Forfeited And Abandoned Property For Public Use....KINDLY READ THE FULL STORY HERE▶
In a recent session, the House of Representatives put forth a motion urging the Federal Government to renovate and repurpose its abandoned buildings and forfeited lands, both domestically and internationally, for public benefit……..CONTINUE READING
The motion, titled “Call to convert abandoned and seized properties including buildings and lands for public use,” was introduced by Iyawe Esosa, representing Oredo Federal Constituency of Edo State. Esosa highlighted the prevalence of government agencies operating from rented office spaces despite the existence of numerous abandoned government-owned properties across the nation.
Esosa emphasized the potential of asset recovery as a powerful tool against corruption, both domestically and internationally. He noted that the Proceeds of Crime (Recovery and Management) Act provides a robust legal framework for the management and recovery of such assets.
The lawmaker cited an example from 2017 when the Federal Government converted seized properties, previously held by the Economic and Financial Crimes Commission, for office use by various agencies, resulting in significant cost savings of about N180 billion.
Esosa underscored the pressing need to address the challenges faced by government agencies in securing office accommodations due to rental difficulties. He also pointed out that numerous confiscated assets, numbering over 50, are currently unoccupied and deteriorating.
Following the adoption of the motion, the House referred it to the Committee on Public Assets for further legislative action. This move signifies a proactive step towards optimizing government resources for public benefit.
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