The House of Representatives has stated that part of the 2021 budget is to be funded by the proceeds made from the sales of forfeited assets in the custody of the Economic and Financial Crime Commission (EFCC).
The disclosure was made by the House of Representatives ad hoc Committee on Abandoned Property.
Chairman of the committee, Hon. Ademorin Kuye called for the immediate sale of seized assets by the EFCC at an investigative hearing on sales of abandoned property on Thursday in Abuja.
Kuye said that as long as the EFCC kept the property in its custody, it would loose value and deteriorate, adding that such would not augur well for the country.
He said the Federal Government has said that part of the 2021 budget would be funded with the proceed from sales of seized property, adding that keeping the property would affect the budget. Kuye said the EFCC should ensure diligent prosecution of cases involving seized assets before offering them for sale.