The Senate has passed the Proceeds of Crime Act (Amendment) Bill, 2026, seeking to establish an independent agency to manage assets recovered from unlawful activities.
The bill, sponsored by Idiat Adebule, senator representing Lagos west, was passed on Thursday after lawmakers considered and adopted the report of the senate committee on judiciary, human rights and legal matters.
Adeniyi Adegbonmire, chairman of the committee, presented the report during plenary.
Presenting the committee’s recommendations, Adegbonmire said the bill seeks to amend the existing law by establishing a proceeds of crime recovery and management agency with legal responsibility for the recovery, preservation and disposal of properties reasonably suspected to have been derived from unlawful activities.
He said the committee recommended the passage of the bill subject to the observations, findings and amendments contained in its report.
“The senate committee on judiciary, human rights and legal matters… recommends
