THE Independent Corrupt Practices and Other Related Offences Commission (ICPC) said it recorded its highest revenue from asset disposal since its establishment, generating ₦1.86 billion from the auction of forfeited properties in 2024.
The commission announced this at the 2025 meeting of its Asset Disposal Committee, following a report presented by its Proceeds of Crime Department (POCD).
The proceeds were generated under the Proceeds of Crime (Recovery and Management) Act (POCA) 2022, which empowers the ICPC to recover, manage, and dispose of assets derived from unlawful activities.
According to the report, 23 forfeited assets were auctioned in 2024, out of which 10 were successfully sold in December. Seven assets could not be sold because the bids fell below the approved threshold, while six others were stalled due to legal and security challenges. Four of the unsold assets have been rolled over into the 2025 disposal programme.
For 2025, the commission said it planned to auction 30 movable and immovable assets, including four carried over from 2024, 12 immovable assets, three movable ones, and eleven batches of perishable assets.
A detailed breakdown of the proceeds showed that perishable and scrapped assets accounted for ₦3.97 million, off-cycle sales generated ₦975 million, while on-cycle disposals yielded ₦890 million.
The ICPC Chairman, Musa Adamu Aliyu, a senior advocate, described the record revenue as a landmark achievement and reaffirmed the commission’s commitment to depriving corrupt individuals of their illicit wealth.
“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,” Aliyu said.
He noted that civil forfeiture remained one of the most efficient ways to recover stolen assets, adding that converting confiscated properties into public value would enhance national economic growth and rebuilds citizens’ confidence in the anti-corruption process.
Aliyu emphasised that asset disposal was a crucial component of the ICPC’s responsibilities under the POCA 2022, aimed at ensuring transparency, accountability, and value optimisation for public benefit.
In line with this commitment, 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). Their participation, according to the ICPC, ensured fairness and transparency in the asset management process.
The ICIR reported that the ICPC chairman, during a media engagement in Kano in September, urged the National Assembly to expedite the passage of the Whistleblower Protection Bill to enhance citizens’ participation in anti-corruption efforts. He argued that the bill would provide legal protection for individuals who expose corruption, noting that many whistleblowers faced backlash and victimisation.
Aliyu identified corruption as a major driver of insecurity, unemployment, and poverty in Nigeria. He called for deeper collaboration between citizens, the media, and anti-corruption agencies to strengthen transparency and accountability.
Despite his appeal, existing government policies such as the Official Secrets Act and the Cybercrimes (Prohibition, Prevention, etc.) Act has been criticised by analysts as a potential deterrent to whistleblowing, as it criminalises the unauthorised disclosure of official information.
Nevertheless, Aliyu has continued to advocate for citizen participation and transparency, stressing that anti-corruption work must combine asset recovery with preventive strategies, civic education, and stronger institutional frameworks.
Under his leadership, the ICPC has also intensified monitoring of constituency and capital projects across Nigeria. Between 2022 and 2024, the commission tracked over 1,400 projects valued at about ₦271 billion in the North-East and North-West regions, recovering billions in public funds and securing multiple convictions.
A reporter with the ICIR
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