ICPC Nets Record ₦1.86 Billion from Forfeited Assets Sale, Eyes Bigger Recoveries in 2025
Story: written by Uzuh Rita October 23,2025
The Independent Corrupt Practices and Other Related Offences Commission (ICPC) recorded its highest-ever asset disposal proceeds in 2024, generating ₦1.86 billion from the auction of forfeited properties and assets.
In a statement issued on Wednesday, the commission’s spokesperson, Demola Bakare, disclosed that the milestone was revealed during the 2025 meeting of the Asset Disposal Committee, chaired by ICPC boss, Dr. Musa Aliyu.
According to the report presented by the Proceeds of Crime Department (POCD), 10 out of 23 forfeited assets were successfully sold in December 2024. Seven others could not be auctioned as the bids were below approved values, while six assets were delayed due to legal, security, or encroachment disputes. Four of these unsold properties have been rolled over for the 2025 exercise.
For the new year, the committee has listed 30 assets — both movable and immovable — for disposal. These include 12 landed properties, three movable assets, 11 batches of perishable items, and four rolled-over assets from the previous year.
A detailed breakdown of 2024 earnings showed ₦3.97 million came from perishable and scrap items, ₦975 million from off-cycle sales, and ₦890 million from on-cycle disposals, bringing the total to ₦1.86 billion.
Speaking at the meeting, ICPC Chairman Musa Aliyu emphasized that stripping corrupt individuals of their ill-gotten wealth remains central to the commission’s anti-corruption strategy.
“Asset recovery plays a vital role in restoring public resources for citizens’ benefit,” Aliyu said. “Our aim is to ensure transparency and fairness in converting forfeited assets into public value.”
He stressed that all asset sales comply with due process and existing laws to prevent undervaluation or re-looting of confiscated properties.
Observers 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) attended the 2025 meeting, ensuring transparency and public oversight.
The ICPC reaffirmed its commitment to intensifying asset recovery and disposal efforts in 2025, focusing on returning stolen wealth to the national treasury and deterring corruption.
