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ADDIS ABABA – Preparations are underway to fully implement the recently ratified asset recovery law, designed to prevent and suppress unexplained wealth, the Ministry of Justice (MoJ) announced.
Briefing journalists yesterday on the newly approved asset recovery proclamation No. 1364/2025, Justice Minister, Hanna Arayaselassie, said that her organization is striving to combat illegal activities, ensure fairness, and bridge legal gaps through the effective implementation of the legal framework.
According to her, the proclamation is significant for ensuring rule of law, creating healthy finance environment, realizing accountability, and providing legal protection, thereby reclaiming assets for the government and public benefit.
The ministry has the mandate to investigate sources of assets, prosecute cases, protect citizens’ wealth, and inspect illegal property. The organization is exercising its power by investigating assets of unknown origin worth up to 10 million Birr with a 10-year background check, she added.
She further stated that preparations are being finalized to effectuate the law from the federal to the local level.
Ethiopia has prepared to implement the law by drawing important lessons from several countries that use such decrees to ensure a healthy financial environment, according to the minister.
She underscored that absence of such an asset recovery law had negatively affected the country for years, allowing criminals to launder millions of Birr from unknown sources.
The asset recovery decree was approved by the House of Peoples Representatives (HoPRs) on January 8, 2025.
BY MESERET BEHAILU
THE ETHIOPIAN HERALD FRIDAY 31 JANUARY 2025