President Bola Tinubu has approved the immediate dissolution of the Presidential Implementation Committee on the Alienation of Federal Government Properties (PIC), a body established 25 years ago under former President Olusegun Obasanjo.
The decision, announced on Thursday by the President’s Special Adviser on Information and Strategy, Bayo Onanuga, transfers all the committee’s responsibilities to the Attorney-General of the Federation and Minister of Justice, Lateef Fagbemi.
According to the statement, the dissolution takes effect from November 5, 2025. The committee’s secretary, B. S. Dutsin-Ma, has been directed to cease all official actions on behalf of the PIC and the Federal Government.
The Presidency said the move followed a review which found that the committee had exceeded its original mandate, leading to multiple legal disputes nationwide.
“The activities of the PIC had extended beyond its original mandate, resulting in multiple litigations across the country, and its continued existence is no longer justified,” the statement said.
Established in 2000, the PIC was tasked with overseeing the sale, lease, and privatization of federal government properties under the Obasanjo administration’s monetization policy. The policy aimed to convert government assets into cash and end in-kind benefits for public servants.
However, the program became controversial over the years, with disputes over property valuations, allegations of irregular sales, and numerous court cases trailing its implementation.
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