Some of the ships reportedly seized by the Economic and Financial Crimes Commission (EFCC) have begun to sink in waters across the country, while many of those temporarily and permanently forfeited by suspected corrupt persons are being damaged due to lack of maintenance. 

Sources at the House of Representatives told newsmen that the Nigerian Navy, which was mandated to oversee the seized, recovered or forfeited assets, had no budgetary provision to maintain them, leaving them damaged and submerged eventually. 

According to the lawmakers, most of the vessels are in Lagos State and they are the worst hit by the abandonment. 

The House of Representatives Ad Hoc Committee on Assessment and Status of All Recovered Loots Movable and Immovable Assets from 2002 to 2020 by Agencies of the Federal Government of Nigeria for Effective, Efficient Management and Utilization had recently embarked on oversight visits to the locations of such assets for an on-the-sight assessment.

Some members of the committee who expressed their displeasure at what they found out during the tour, revealed that investigation was still ongoing.