ABUJA: Nigeria has recorded significant progress in the recovery of looted public assets, but experts say the impact will only be felt if recovered funds are transparently deployed to improve citizens’ lives.
The Executive Director of the African Network for Environment and Economic Justice (ANEEJ), Mr David Ugolor, made this observation on Thursday during the opening of a two-day town hall meeting in Abuja on the utilisation of recovered assets and presentation of accountability reports.
Ugolor commended the Federal Government and anti-corruption agencies for sustained efforts in recovering stolen funds both locally and internationally. “To make greater impact, the government must prioritise transparency and accountability in the utilisation of the recovered looted funds,” he said.
Highlighting Nigeria’s growing recognition on the global stage for its asset recovery processes, he praised the Economic and Financial Crimes Commission (EFCC), the Independent Corrupt Practices and Other Related Offences Commission (ICPC), and the Federal Ministry of Justice. “In global discussions on asset recovery, Nigeria is regarded as meeting good standards,” Ugolor said.
However, he stressed that recovery alone was insufficient, noting that citizens are more concerned about how recovered funds translate into tangible benefits. He cited ANEEJ’s monitoring of assets linked to Bayelsa State and the Galactica restitution.
“Our baseline survey across Bayelsa’s eight local government areas assessed the condition of primary healthcare centres earmarked for support from recovered funds. The findings show what needs to be done to bring these centres to acceptable standards,” Ugolor explained.
On the Galactica asset linked to former Petroleum Minister Dieziani Alison-Madueke, he said $50 million set aside for rural electrification projects has yet to be deployed more than a year after agreements were signed, raising concerns over delays largely attributed to procurement and institutional processes. ANEEJ is working with the Rural Electrification Agency and Ministry of Justice to ensure proper implementation, while civil society groups independently monitor progress.
Ugolor also identified challenges such as access to data and prolonged administrative procedures, emphasising the importance of collaboration with government institutions.
“It is not always about accusing officials; sometimes they face genuine capacity and institutional challenges. Civil society can support them technically to ensure projects succeed,” he said.
He highlighted ANEEJ’s internationally recognised “MANTRA” model, a citizen-led monitoring approach that strengthens transparency and accountability in asset utilisation. Commenting on EFCC’s recent recovery of $30 million, Ugolor described it as a “huge resource” that should be prioritised for healthcare, education, and infrastructure.
Dr Matthew Ayibakuro, Governance Adviser at the United Kingdom’s Foreign, Commonwealth and Development Office (FCDO), said recovered assets are “justice returned to citizens” and must be transparently managed.
He commended ANEEJ for convening stakeholders across government, civil society, academia, the media, and development partners to ensure recovered funds translate into meaningful improvements in Nigerians’ lives.
“Effective asset recovery requires collective action. When law enforcement, judiciary, civil society, and oversight bodies work together, we see stronger systems, better coordination, and outcomes that centre on citizens,” Ayibakuro said, reaffirming the UK’s commitment to supporting Nigeria’s asset recovery efforts.
