The Nigerian Senate has reversed its earlier decision to pass the Proceeds of Crime Act (Amendment) Bill, 2026, announcing that the legislation will undergo further review before being reconsidered.
The decision followed the discovery of major legal, policy and drafting concerns that lawmakers said could affect the effective implementation of the proposed law if not properly addressed.
Senator Opeyemi Bamidele, who presented the motion for the Senate, explained that after the bill was passed, members identified areas requiring additional legislative attention.
According to him, the issues raised were significant and needed to be resolved to prevent possible legal complications and operational challenges in the fight against crime-related financial activities.
The Senate said revisiting the bill was necessary in the interest of the public and reflected its commitment to producing laws that are clear, workable and consistent with national and international standards.
The lawmakers expressed concerns that some provisions in the private member’s bill did not fully align with global best practices on asset recovery and the management of proceeds linked to criminal activities.
The upper chamber noted that allowing the identified weaknesses to remain could undermine the objectives of the legislation.
The amended version of the bill is expected to return to the Senate after corrections have been made to address the legal and policy concerns raised.
The review process, lawmakers said, is aimed at ensuring that the final legislation fits within Nigeria’s constitutional framework while strengthening efforts to recover assets acquired through unlawful means.
