Federal Government planning to use seized properties as offices

According to news report, the Federal Government is planning to use some properties seized from looters as offices in a bid to reduce the high rent they pay for office buildings by government agencies. Minister of Finance, Kemi Adeosun, disclosed this yesterday June 10th at the opening of a meeting with members of the National Steering Committee of the Efficiency Unit.

The Federal Government since May 29, 2015 have seized over 350 buildings through the Independent Corrupt Practices and Other Related Offenses Commission, ICPC, and the Eonomic and Financial Crimes Commission, EFCC.

“The average annual expenditure on rent for the three year period 2012 to 2014 was N3.55bn. The issuance of price guidelines and initiatives for reducing expenditure on rent on office and residential buildings will be the primary focus in the coming months. And to achieve that, we are already looking at using properties that were forfeited from recoveries and moving some of our agencies to occupy those properties rather than paying rent.”