Govt launches massive asset probe covering 11,500 officials, Former PM’s under investigation as major corruption files reopen

KATHMANDU: In what could become one of the most far-reaching anti-corruption drives in Nepal’s modern political history, the government has initiated a sweeping plan to investigate the assets of more than 11,500 individuals, including former prime ministers, senior political leaders, high ranking officials, and politically appointed officials spanning over three decades.

The move, aligned with the reformist agenda of the Rastriya Swatantra Party-backed government led by Balen Shah, marks a significant escalation in efforts to enforce accountability and tackle systemic corruption that has persisted since the restoration of multiparty democracy in 1990 (2046 BS) and the establishment of the republic in 2008.

Two-Phase Investigation Covering 32 Years of Governance

According to senior government officials, the asset verification process will be conducted in two phases:

• Phase 1: From the 2006 People’s Movement (2062/63 BS) to the present
• Phase 2: From 1991 (2048 BS) to 2005 (2061/62 BS)

An empowered high-level investigation committee is expected to be formed within 15 days, comprising experts from finance, revenue, and investigative sectors. The committee will be granted full authority to access documents, analyze financial records, and draw conclusions on illicit wealth accumulation.

Officials estimate that political leaders, bureaucrats, intermediaries, and affiliated authorities—totaling around 10,000—will fall under the scope of investigation.

Former Prime Ministers in the Investigation Net

Even before the formal committee is constituted, investigative have already begun. Acting on directives from the Department of Money Laundering Investigation, the Central Investigation Bureau has initiated inquiries into the assets of four former prime ministers:

• Sher Bahadur Deuba
• K P Sharma Oli
• Pushpa Kamal Dahal
• Madhav Kumar Nepal
• Baburam Bhattarai
• Jhalanatha Khanal

Additionally, former ministers including Arzu Rana Deuba and Deepak Khadka are also under scrutiny, with Khadka reportedly taken into custody from Budhanilkantha.

Authorities have also extended investigations to family members and close associates, including Ganga Dahal and Bhushan Rana, signaling a broader net targeting possible proxy holdings and indirect asset accumulation.

Legal and Institutional Framework Gains Momentum

The asset probe builds on earlier demands within Nepal’s political ecosystem. Notably, Kamal Thapa had formally urged then Prime Minister K P Sharma Oli in 2018 to establish a judicial commission to investigate assets of high-ranking officials dating back to 1990.

Despite repeated internal calls within major parties like Nepali Congress and Communist Party of Nepal Unified Marxist Leninist, previous governments had not acted decisively.

The current administration, however, has approved the formation of an empowered probe committee as part of its first Cabinet decisions, signaling political will to confront entrenched corruption networks.

Data-Driven Investigation Using Nationwide Records

The Department of Money Laundering Investigation has already compiled extensive financial data, including:

• Bank deposits and financial transactions
• Investments and company ownership records
• Assets held in relatives’ names
• Land ownership details collected from all 77 district land revenue offices

These datasets, gathered months earlier, have been handed over to the Central Investigation Bureau to accelerate the investigation process.

High-Profile Corruption Cases Set for Reopening

The investigation is expected to reopen and expand scrutiny into several high-profile corruption scandals that have shaped public discourse in Nepal, including:

• Wide-body aircraft procurement controversy
• Sudan scam
• Maoist combatant cantonment irregularities
• Lalita Niwas land grab case
• Patanjali land controversy
• Giribandhu Tea Estate case
• Fake Bhutanese refugee scam
• Gold smuggling networks
• Cooperative fraud cases
• Omni Group COVID-era procurement scandal
• Security printing press deal
• Teramax and excise sticker procurement issues
• Melamchi Water Supply Project irregularities

These cases have long been criticized for weak enforcement, political interference, or incomplete investigations.

Political Economy Impact and Reform Narrative

The government’s aggressive anti-corruption stance is closely tied to public pressure, particularly from younger demographics demanding transparency and governance reform following recent civic movements.

Analysts note that the success of this initiative could significantly reshape Nepal’s political economy by:

• Enhancing investor confidence
• Strengthening rule of law and institutional credibility
• Improving fiscal discipline and public resource management
• Reducing illicit financial flows

However, challenges remain substantial. Legal complexities, potential political resistance, and institutional capacity constraints could slow progress.

Implementation: The Real Test

While policy announcements have generated optimism, experts caution that execution will be निर्णायक. Previous attempts at asset investigation have often stalled due to lack of coordination, weak prosecution, or political compromise.

“This is not about policy formulation anymore—it is about enforcement,” said a senior official at the Prime Minister’s Office. “If implemented effectively, this could redefine governance standards in Nepal.”

The government has positioned this initiative as a cornerstone of its broader “100-point reform agenda,” aiming to deliver transparent, accountable, and digitally enabled governance.

As investigations deepen and high-profile cases resurface, Nepal’s political and financial landscape may be heading toward a period of unprecedented scrutiny and structural reset.