Nigerian Senate passes bill to establish agency for recovered assets

Lawmakers stated this move aims to strengthen Nigeria’s anti-corruption framework and improve accountability in managing recovered properties. The Senate also passed the Legal Practitioners Act Repeal and Re-enactment Bill, 2026. Senator Adeniyi Adegbonmire, Chairman of the Senate Committee on Judiciary, Human Rights and Legal Matters, explained that the Legal Practitioners Bill seeks to replace the existing framework with a modern one to enhance standards within the legal profession.

Regarding the Proceeds of Crime Act Amendment Bill, he noted that the proposed legislation addresses concerns over the management of assets recovered from criminal activities by establishing a dedicated agency. This agency would be responsible for properties suspected to be derived from unlawful activities, filling a critical institutional gap in Nigeria’s anti-corruption architecture. Senate President Godswill Akpabio stated that the new agency will ensure recovered assets are managed transparently for the benefit of Nigerians.

Both bills will now be transmitted to the House of Representatives for concurrence before being sent to the President for assent.