ICPC Generates Record N1.86 Billion from 2024 Asset Disposal
The Independent Corrupt Practices and Other Related Offences Commission (ICPC) has announced that it generated a landmark sum of ₦1.86 billion from the disposal of forfeited assets in 2024 — the highest amount recorded since the Commission’s establishment.
The disclosure was made during the 2025 meeting of the ICPC Asset Disposal Committee, following the presentation of a performance report by the Commission’s Proceeds of Crime Department (POCD).
According to the report, a total of 23 forfeited assets were earmarked for disposal in 2024, out of which 10 were successfully auctioned in December of that year. Seven assets could not be sold due to bids falling below approved thresholds or forced-sale values, while six others were affected by legal, security, or encroachment issues. Four of the unsold assets have been rolled over into the 2025 disposal programme.
A financial breakdown from the Commission shows that perishable and scrapped assets accounted for ₦3,969,400, off-cycle disposal sales of three assets yielded ₦975 million, while 20 on-cycle assets generated ₦890 million, bringing the total proceeds to ₦1,868,969,400.
For the 2025 exercise, the ICPC Asset Disposal Committee has proposed the disposal of 30 movable and immovable assets, including four rolled over from 2024. The new list also includes 12 immovable properties, three movable assets, and 11 batches of perishable items scheduled for auction.
Read Also:
Speaking during the meeting, ICPC Chairman, Dr. Musa Adamu Aliyu, SAN, commended the Proceeds of Crime Department for its effective execution of the Commission’s mandate under the Proceeds of Crime (Recovery and Management) Act (POCA) 2022. He emphasized that asset recovery and disposal remain essential components of Nigeria’s anti-corruption strategy.
“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,” Dr. Aliyu said.
The ICPC boss further explained that civil forfeiture offers a faster, cheaper, and more transparent means of reclaiming stolen assets, while converting confiscated assets into public value enhances economic growth and strengthens public confidence in anti-corruption efforts.
Dr. Aliyu reiterated that the Commission’s asset disposal process is guided by transparency, accountability, and fairness, in line with the provisions of POCA 2022 and other enabling laws.
To reinforce transparency, this year’s Asset Disposal Committee meeting was observed by independent representatives from the Bureau of Public Procurement (BPP), Nigeria Labour Congress (NLC), Nigeria Union of Journalists (NUJ), Accountability Lab, and the Centre for Fiscal Transparency and Public Integrity (CeFTPI).
Dr. Aliyu lauded the presence of these observers, noting that their participation enhances public trust and ensures the integrity of the asset disposal process.
By PRNigeria
