The Nigerian Senate is considering a major shift in the management of assets recovered from corruption cases by proposing a new agency that will take over this responsibility from existing anti-graph bodies like the EFCC and ICPC.

A bill to amend the proceeds of crime (Recovery and Management) Act 2022 passed second reading on Tuesday, May 20, 2025. If enacted, It would strip the EFCC, ICPC, Customs Service, and 15 other agencies of the power to manage seized assets, leaving them to focus on investigation and prosecution.

The bill, sponsored by Senator Adebule Idiat Oluranto, (APC, Lagos West), advocates for an independent body that will centrally oversee, administer, and dispose of all assets deemed proceeds of crime.

The proposed agency would operate an Automated Forfeited Assets Management System to enhance transparency and accountability.

“This reform will introduce unified policies and ensure effective oversight in managing recovered properties”, Senator Adebule stated during plenary.

However, some of the lawmakers expressed concerns about duplication of duties, but the majority supported the bill, which has now been referred to the Senate Committee on Justice, Human Rights, and Legal Matters for scrutiny.