By Vivian Emoni
Abuja, Dec. 31, 2025 (NAN) Mr Agabaidu Jideani, Director-General, Abuja Chamber of Commerce and Industry (ACCI) says Nigeria’s asset recovery framework is a key instrument for strengthening transparency, accountability and public confidence.
Jideani said this in an interview with the News Agency of Nigeria (NAN) on Wednesday in Abuja.
He said that the framework aligned anti-corruption efforts with human rights safeguards provided under international conventions and Nigeria’s constitutional provisions.
According to him, asset recovery processes are guided by the United Nations Convention Against Corruption and the African Charter on Human and Peoples’ Rights.
He said that the instruments emphasised fair hearing, protection of property rights and proportionality in enforcement measures.
“The Proceeds of Crime (Recovery and Management) Act, 2022, was identified as the legal foundation supporting asset tracing, freezing, seizure and forfeiture procedures.
“The Act provides for judicial oversight, notice to affected parties, and access to appeal mechanisms.
“Moreover, non-conviction-based forfeiture under the law includes safeguards to prevent arbitrary deprivation of assets.
“The judicial scrutiny remains central to ensuring due process throughout recovery proceedings,” he said.
The ACCI boss described the introduction of digital tools for managing recovered assets as a step toward improved coordination and transparency.
He said that public access to information enhanced accountability and confidence in recovery processes.
He further said that asset recovery should prioritise victims by redirecting recovered resources to social and economic development needs.
He called for continuous reforms to strengthen proportionality, compensation mechanisms and institutional independence.
Jideani, also a Non-Executive Chairman of African Centre for Governance, Assets Recovery and Sustainable Development, said that civil society participation and public enlightenment remained essential to sustaining trust and inclusiveness.
He said that structured oversight by relevant institutions would further strengthen compliance with human rights standards.
According to him, in 2025, the Independent Corrupt Practices and Other Related Offences Commission (ICPC) reported recoveries amounting to N37.44 billion and 2.353 million dollars.
“The commission also disclosed investigations of about 263 cases, alongside a conviction rate of 55.74 per cent.
“Between 2023 and 2025, the Economic and Financial Crimes Commission (EFCC) reported recoveries of about N566 billion, 411 million dollars and 1,502 properties,” he said.
The director-general said that recovered assets have supported infrastructure, education, health programmes and conditional cash transfer initiatives nationwide. (NAN)(www.nannews.ng)
Edited by Vivian Ihechu
