Adebule’s Proceeds of Crime Amendment Bill Scales Second Reading Amid Senate Debate
The Nigerian Senate on Wednesday moved a step closer to overhauling the country’s asset recovery framework as the Proceeds of Crime (Recovery and Management) Bill 2025, sponsored by Senator Idiat Adebule (Lagos West), scaled its second reading during plenary.
The proposed legislation seeks to amend the Proceeds of Crime Act 2022, with the primary aim of enhancing transparency, accountability, and efficiency in the handling of assets recovered from unlawful activities.
Presenting the bill, Senator Adebule highlighted critical gaps in the current system, where no fewer than 18 government agencies share responsibility for managing recovered assets. She described the existing arrangement as disjointed and inefficient, warning that it had become a breeding ground for mismanagement and corruption.
According to her, the amendment bill proposes the creation of a central, independent agency dedicated solely to managing and disposing of recovered assets. “The lack of coordination and standardised procedures among the agencies has made asset recovery opaque and unaccountable,” she stated.
The bill, however, sparked divergent opinions among senators.
Senator Sani Musa offered partial support, backing the need for stronger oversight but urging caution against establishing yet another government agency. On the other hand, Senator Abdul Ningi commended Senator Adebule’s initiative, calling it “a well thought-out idea” and describing the bill as the missing link in the fight against corruption.
Senator Emmanuel Udende disagreed, arguing that agencies like the Economic and Financial Crimes Commission (EFCC) are already empowered to manage recovered assets and that creating a new body could lead to unnecessary duplication.
But Senator Isah Jibrin supported the bill wholeheartedly, stating, “There are leakages by agencies that recover these assets, and we need to block them through an independent agency.”
Despite the mixed reactions, the bill passed the second reading and has been referred to the Senate Committee on Judiciary and Legal Matters for further legislative work. The committee is expected to report back to the plenary in four weeks.
If passed, the bill could mark a significant shift in Nigeria’s anti-corruption strategy, centralising asset management in a single agency and potentially increasing accountability in how recovered national assets are handled.
