According to Nigeria’s Finance Minister Kemi Adeosun, the federal government has decided to establish a new initiative designed to track existing government assets by locating, identifying, assessing and evaluating all its moveable and immovable assets of the federal government.
The initiative called “Asset Tracking and Management Project” will register and track all government assets to prevent theft of government property and making planning and control easier and improve accountability for assets.
The theft of government property is a frequent and costly occurance in Nigeria and needs to be curtailed. According to the News Agency of Nigeria, some retired directors of the Federal Ministry of Water Resources illegally kept 40 government vehicles which have been recently recovered by the Independent Corrupt Practices Commission (ICPC). Further, the Economic and Financial Crimes Commission (or EFCC), also reports it recovered 40 Sports Utility vehicles from a Permanent Secretary who served in the Federal Ministry of Power and is now retired….Read more here: