Asset recovery is the process by which proceeds of crime, such as those derived from corruption, are identified, traced, seized, confiscated and returned to their legitimate owners which may include states, government-owned enterprises as well as individuals.
As part of Civil Society, CCFA plays a role in supporting the tracing and recovery of assets by promoting awareness and ensuring transparency by public institutions. It also encourages accountability in public service to citizens in order to build public confidence and trust. Such measures can lead to reform in public policy in matters of public sector corruption money laundering, which are the predicate actions that result in the recovery of assets.
To strengthen government accountability, through strategic asset recovery -related awareness campaigns, CCFA promotes transparency of law enforcement agencies in the asset recovery process and management of assets to ensure that proceeds of crime are returned to their rightful owners.
CCFA’s strategy is geared towards strengthening the Nigerian system to minimize corruption in the public sector, discourage money laundering through financial institutions and designated non-financial institutions and counter illicit financial flows to prevent future losses of assets.