Business
Assets Tracking, Critical To Anti-Corruption Fight – ICPC Scribe
The Secretary, Independent Corrupt Practices and Other Related Offences Commission (ICPC), Dr Musa Abubakar says assets tracing, recovery and management are essential components in the fight against corruption.
The Commission’s new scribe said this in a welcome address at a training programme for staff of anti-corruption agencies held at the Anti-Corruption Academy of Nigeria (ACAN), Keffi, Nasarawa State.
The statement was posted on the website of the commission, which was accessed by The Tide.
Abubakar, who represented commission’s Acting Chairman, Alhaji Abdullahi Bako, said that assets tracing and recovery was even more germane now given the quantum of the nation’s wealth that had been stolen by some individuals.
“Contemporary techniques in recovery of these stolen assets and management of same will go a long way in deterring future corrupt public officers.
“It will also go a long way in boosting the needed funds and assets of the country for overall development and well-being of the citizens.
“I must confess that I am excited to be here today. This is my first time of coming to the Academy, which I have heard so much about before being appointed Secretary to this Commission’
“I am impressed with the level of infrastructure I have seen so far, which I am told was achieved with limited resources.
‘The serene atmosphere here, which is far from the hustle and bustle of the city, is ideal for intellectual activities,” he said.
The Adamawa Attorney-General and Commissioner for Justice, Malam Bala Sanga, said that corruption was a deviant behaviour and that perpetrators must not be allowed to enjoy the proceeds of their crime.
Sanga explained that the primary purpose of recovery was to deny criminals the benefits derivable from their criminal activities and that it had to be pursued to its logical conclusion.
The three -day training organised by ICPC, featured participants from the commission, the EFCC, the Code of Conduct Bureau and the Assets Management Company of Nigeria(AMCON).
It was aimed at equipping the anti-corruption operatives with the requisite skills and capacity to trace, recover and efficiently manage stolen assets.
Edun made the call while speaking at the 2025 Fellowship Investiture of the Chartered Institute of Bankers of Nigeria (CIBN) in Lagos, where he reaffirmed the federal government’s commitment to sustaining ongoing reforms and expanding access to finance as key drivers of economic growth beyond four per cent.
“We all know that monetary policy under Cardoso has stabilised the financial system in a most commendable way. Of course, it is a team effort, and those eye-watering interest rates have to be paid by the fiscal side. But the fight against inflation is one we all have to participate in,” he said.
The minister stressed the need for banks to broaden credit access and finance innovation-driven enterprises that can create jobs for young Nigerians.
“The finance and banking industry has more work to do because we must finance their ideas, deepen the capital and credit markets down to SMEs. They should not have to go to Silicon Valley,” he said.
The minister who described the private sector as the engine of growth, said the government’s reform agenda aims to create an enabling environment where businesses can thrive, access funding, and contribute meaningfully to job creation.
The facility, known as the Nigeria Actions for Investment and Jobs Acceleration (P512892), is a Development Policy Financing (DPF) operation scheduled for World Bank Board consideration on December 16, 2025.
According to the Bank’s concept note , the financing would comprise $500m in International Development Association (IDA) credit and $500m in International Bank for Reconstruction and Development (IBRD) loan.
If approved, it would be the second-largest single loan Nigeria has received from the World Bank under President Bola Tinubu’s administration, following the $1.5 billion facility granted in June 2024 under the Reforms for Economic Stabilisation to Enable Transformation (RESET) initiative.
The World Bank said the new programme aims to support Nigeria’s shift from short-term macroeconomic stabilisation to sustainable, private sector–led growth.
“The proposed Development Policy Financing (DPF) supports Nigeria’s pivot from stabilization to inclusive growth and job creation. Structured as a two-tranche standalone operation of US$1.0 billion (US$500 million IDA credit and US$500 million IBRD loan), it seeks to catalyse private sector–led investment by expanding access to credit, deepening capital markets and digital services, easing inflationary pressures, and promoting export diversification,” the document read.
The document further stated that Nigeria’s private sector credit-to-GDP ratio stood at only 21.3 per cent in 2024, significantly below that of emerging-market peers, while capital markets remain shallow, with sovereign securities dominating the bond market.
To address these weaknesses, the DPF will support the implementation of the Investment and Securities Act 2025, operationalisation of credit-enhancement facilities, and introduction of a comprehensive Central Bank of Nigeria rulebook to strengthen risk-based regulation and consumer protection.
The operation also includes measures to deepen digital inclusion through the passage of the National Digital Economy and E-Governance Bill 2025, which will establish a legal framework for electronic transactions, authentication services, and digital records.
Beyond the financial and digital sectors, the programme targets reforms to lower production and living costs by tackling Nigeria’s restrictive trade regime. High tariffs and import bans have long driven up consumer prices and constrained competitiveness, particularly for manufacturers and farmers.
Under the proposed reforms, Nigeria would adopt AfCFTA tariff concessions, rationalise import restrictions, and simplify agricultural seed certification to increase the supply of high-quality varieties for maize, rice, and soybeans. The World Bank projects that these measures will help reduce food inflation, attract private investment, and enhance export potential.
The operation is part of a broader World Bank FY26 package that includes three complementary projects—Fostering Inclusive Finance for MSMEs (FINCLUDE), Building Resilient Digital Infrastructure for Growth (BRIDGE), and Nigeria Sustainable Agricultural Value-Chains for Growth (AGROW)—all focused on expanding access to finance, strengthening institutions, and mobilising private capital.