President Bola Tinubu has dissolved the Presidential Implementation Committee on the Alienation of Federal Government Properties (PIC), ending the operations of the 25-year-old body established under former President Olusegun Obasanjo and transferring all its responsibilities to the Attorney-General df the Federation and Minister of Justice, Lateef Fagbemi.
The directive, was announced on Thursday ,July 29,2026 , in a statement by the President’s Special Adviser on Information and Strategy, Bayo Onanuga, took effect retrospectively from November 5, 2025.
As part of the decision, the committee’s Secretary, B. S. Dutsin-Ma, was directed to immediately stop acting on behalf of the committee and the Federal Government on all matters relating to the alienation of federal properties.
According to the Presidency, the committee was dissolved after a review showed it had exceeded its original mandate, leading to numerous litigations across the country and making its continued existence unnecessary.
The statement n disclosed that the committee’s activities had generated widespread legal disputes, prompting the Federal Government to streamline the management of matters relating to the sale and lease of federal assets under the office of the Attorney-General.
The Presidential Implementation Committee was created in 2000 during the administration of former President Olusegun Obasanjo to supervise the privatisation, sale and lease of Federal Government landed assets under the monetisation policy.
The committee was chaired by the Minister of Housing and included representatives of the Ministries of Transportation, Justice, Health and Agriculture, as well as the Nigeria Police Force. Professor P. T. Ahire served as its pioneer secretary.
In March 2001, the Federal Executive Council also approved a Panel of Inquiry to prepare a White Paper to guide the implementation of the committee’s recommendations.
The monetisation policy became one of the landmark reforms of the Obasanjo administration, aimed at converting government-owned assets into cash and ending the provision of official residences, vehicles and other benefits in kind to public servants.
The implementation of the policy remained controversial for years, with disputes over property valuation, allegations of undervaluation, claims of irregular sales to politically connected individuals, and numerous court cases arising from the exercise.
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