‘Senate Passage Of Crimes Proceeds Mgt Agency Milestone In Anticorruption War’

A group, the CREAP Africa Initiative, has welcomed the Senate passage of the Proceeds of Crime (Recovery and Management) Act (Amendment) Bill, 2026, seeking to establish an independent agency responsible for the management, preservation, recovery and disposal of proceeds of crime and forfeited assets.

In a statement, the executive director of CREAP Africa Initiative, Sylvanus Udoenoh, said the landmark legislative action represents an important milestone in Nigeria’s ongoing efforts to strengthen transparency, accountability, and integrity in the fight against corruption and illicit financial flows.

“For many years, concerns have been raised regarding the fragmented management of recovered assets, weak institutional coordination, inadequate accountability mechanisms, and the absence of a centralized framework for preserving assets recovered from criminal activities.

“The proposed agency has the potential to address these longstanding challenges by providing a more transparent and professional system for managing public assets recovered through anti-corruption efforts.

“CREAP Africa Initiative believes that recovered assets belong to the Nigerian people and must be managed in a manner that promotes public trust, national development, and the rule of law.

Every naira recovered from corruption should ultimately serve the public interest by supporting development priorities and strengthening confidence in democratic institutions,” he said.

Udoenoh said the development also demonstrated the importance of sustained collaboration among the National Assembly, anti-corruption institutions, civil society organisations, legal practitioners, development partners, and citizens who have consistently advocated for reforms that improve accountability in public asset management.

“While celebrating this legislative progress, we emphasise that the passage of the bill is only one step in a broader reform process.

“The true measure of success will depend on the independence of the proposed agency, transparent operational guidelines, effective oversight, public reporting, and strict compliance with constitutional and legal safeguards,” he said.

Udoenoh called on the House of Representatives and President Bola Tinubu to expedite the remaining legislative and constitutional processes required for the bill to become law.

He also asked the federal government to ensure that the new agency operates independently, professionally and free from political interference.