The CREAP Africa Initiative warmly welcomes the passage by the Nigerian Senate of the Proceeds of Crime (Recovery and Management) Act (Amendment) Bill, 2026, which seeks to establish an independent agency responsible for the management, preservation, recovery, and disposal of proceeds of crime and forfeited assets.
This 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.
This development also demonstrates the importance of sustained collaboration among the National Assembly, anti-corruption institutions, civil society organizations, 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 emphasize 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.
CREAP Africa Initiative therefore calls on:
– The House of Representatives and the President of the Federal Republic of Nigeria to expedite the remaining legislative and constitutional processes required for the bill to become law.
– The Federal Government to ensure that the new agency operates independently, professionally, and free from political interference.
– Relevant oversight institutions to establish strong accountability and auditing mechanisms that guarantee transparency in the management and disposal of recovered assets.
– Civil society organizations, the media, and citizens to continue monitoring the implementation of the law and demand full public disclosure of recovered assets and their utilization.
We congratulate the Nigerian Senate for taking this significant step and commend all stakeholders whose advocacy and technical contributions have made this milestone possible.
Most importantly, we congratulate the Nigerian people. This achievement strengthens the country’s anti-corruption architecture and reinforces the principle that proceeds of crime should never benefit criminals but should instead be preserved and managed for the benefit of society.
As Nigeria continues to confront corruption, illicit financial flows, and economic crimes, institutional reforms such as this remain essential to building public confidence, strengthening governance, and promoting sustainable national development.
CREAP Africa Initiative remains committed to supporting initiatives that promote transparency, accountability, democratic governance, and responsible management of public resources.
Signed
Sylvanus Udoenoh
Executive Director
CREAP Africa Initiative
www.creapinitiative.org
