The Senate has rescinded its earlier passage of the Proceeds of Crime Act (Amendment) Bill, 2026, following the discovery of drafting, legal, and policy flaws in the proposed legislation.
The decision was taken on Thursday after lawmakers unanimously adopted a motion moved by Opeyemi Bamidele, the senate leader, who said the issues came to light after the bill was passed on July 9.
Bamidele told the chamber that the identified shortcomings were significant enough to affect the implementation of the legislation if left unresolved.
“Drafting, legal and policy issues requiring further legislative scrutiny and refinement were identified,” he said.
“The senate observes that the identified issues are fundamental to the effective implementation of the proposed legislation and, if left unaddressed, may undermine the objectives of the bill and create unintended legal and operational consequences.”
He said revisiting the legislation was necessary to ensure it
