FORFEITURE OF ASSETS (RELEASE OF CERTAIN FORFEITED PROPERTIES) ACT, 1992

An Act provides for the selective release of previously forfeited properties after reviews. It targets former owners and engages federal government and courts in the process. This delivers justice for those whose assets were improperly seized.

What Is This Policy?

A 1992 Act providing for the selective release of certain properties previously forfeited under the Forfeiture of Assets legislation, following case-by-case review.

Who Does It Target?

Former asset holders whose properties are being released Federal Government managing the release Courts overseeing the process

What Does It Aim to Achieve?

Release specific forfeited properties found on review to warrant return to their former owners, providing justice for those whose assets were excessively or improperly taken.

Key Features

Selective Release: Only specific properties identified in the Act or its schedules are released. Conditions: Release may be subject to conditions preventing re-acquisition of ill-gotten gains. Legal Finality: Release is final and creates clear title for the returning owner.

Current Status

Rollout Stage: Historical — releases completed Coverage: Named forfeited properties Beneficiaries: Former property holders Funding: Federal Government

How to Access

Historical reference Application method: Historical.

Official Resources

Website: https://www.agf.gov.ng Contact: Office of the Attorney General of the Federation

Legal Framework

The Forfeiture of Assets (Release of Certain Forfeited Properties) Act 1992 is recognized under Section 315 of the 1999 Constitution as an existing law. It operated within the military-era Forfeiture of Assets framework and is now largely superseded by the Proceeds of Crime (Recovery and Management) Act 2022 for new asset recovery cases. Nigeria's obligations under the UN Convention Against Corruption (UNCAC) on asset recovery provide the international framework.