The Nigerian Senate has passed a bill seeking to establish an independent agency that will oversee the recovery, preservation, management, and disposal of assets linked to criminal activities.
Lawmakers said the proposed agency is intended to strengthen Nigeria's anti-corruption efforts by ensuring recovered assets are handled transparently and efficiently for the benefit of the public.
The Senate also approved the Legal Practitioners Act (Repeal and Re-enactment) Bill, 2026, aimed at replacing the existing legal framework with updated provisions to improve the regulation of the legal profession in Nigeria.
Chairman of the Senate Committee on Judiciary, Human Rights and Legal Matters, Senator Adeniyi Adegbonmire, said the legal reforms would modernize the justice system and raise professional standards within the legal sector.
Speaking on the recovered assets bill, Adegbonmire noted that the legislation fills a long-standing gap in Nigeria's anti-corruption framework by creating a dedicated institution to manage properties suspected to have been acquired through unlawful means.
Following the committee's recommendations, the Senate adopted both bills clause by clause before passing them through a voice vote.
Senate President Godswill Akpabio said the new agency would ensure recovered assets are managed in a transparent manner and used for the benefit of Nigerians.
The two bills will now proceed to the House of Representatives for consideration before being transmitted to President Bola Tinubu for presidential assent if approved by both chambers.
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