HomeBusinessSenate passes bill to create agency for asset recovery

Senate passes bill to create agency for asset recovery

The Senate on Thursday approved two key pieces of legislation aimed at strengthening the administration of justice and improving the management of assets linked to criminal activities.

The bills; the Legal Practitioners Act (Repeal and Re-enactment) Bill, 2026 (SB. 965) and the Proceeds of Crime Act (Amendment) Bill, 2026 (SB. 343), were passed after the chamber considered and adopted the report of the Senate Committee on Judiciary, Human Rights and Legal Matters.

If eventually enacted, the Proceeds of Crime Act (Amendment) Bill will establish an independent agency responsible for the recovery, preservation, management and disposal of assets suspected to have been acquired through unlawful means.

Lawmakers said the measure is intended to strengthen Nigeria’s anti-corruption framework by introducing greater transparency and accountability in the handling of recovered assets.

Presenting the committee’s report, its Chairman, Adeniyi Adegbonmire, explained that the Legal Practitioners Act (Repeal and Re-enactment) Bill seeks to replace the

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