The Senate on Thursday passed the Proceeds of Crime Act (Amendment) Bill, 2026, paving the way for the establishment of an independent agency to oversee the recovery, preservation, management and disposal of assets linked to criminal activities.
Lawmakers said the proposed agency is expected to strengthen Nigeria’s anti-corruption framework by ensuring greater transparency and accountability in the handling of recovered properties.
The upper chamber also approved the Legal Practitioners Act (Repeal and Re-enactment) Bill, 2026, after adopting the reports of the Senate Committee on Judiciary, Human Rights and Legal Matters during plenary.
Presenting the committee’s reports, its chairman, Senator Adeniyi Adegbonmire, said the Legal Practitioners Bill seeks to replace the existing Legal Practitioners Act, Cap. L11, Laws of the Federation of Nigeria, 2004, with an updated legal framework to improve the regulation of the legal profession.
He explained that the proposed legislation would strengthen professional standards while aligning the legal regulatory framework with current realities.
Adegbonmire noted that the committee gave the bill thorough consideration because of its importance to Nigeria’s justice system, describing the legal profession as a vital pillar in upholding the rule of law and ensuring access to justice.
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On the Proceeds of Crime Act (Amendment) Bill, the senator said the legislation was designed to address persistent concerns over the management of assets recovered from criminal activities by creating a dedicated agency to oversee the process.
He added that the proposed agency would be responsible for recovering, preserving, managing and disposing of properties reasonably suspected to have been acquired through unlawful means, filling what he described as a major gap in the country’s anti-corruption framework.
Following the presentation of the reports, the Senate resolved into the Committee of the Whole, considered the bills clause-by-clause and approved them through a voice vote.
Speaking after the passage of the Proceeds of Crime Act (Amendment) Bill, Senate President Godswill Akpabio said the new agency would ensure recovered assets are managed transparently for the benefit of Nigerians.
The bills will now proceed to the House of Representatives for concurrence before being transmitted to President Bola Tinubu for assent.