By Senate Passes Bills to Establish Independent Asset Recovery Agency, Reform Legal Profession
The 10th Senate on Thursday passed two significant bills aimed at strengthening Nigeria’s anti-corruption framework and reforming the regulation of the legal profession.
The lawmakers approved the Proceeds of Crime Act (Amendment) Bill, 2026, which seeks to establish an independent agency to recover, preserve, manage and dispose of assets linked to unlawful activities. They also passed the Legal Practitioners Act (Repeal and Re-enactment) Bill, 2026, designed to modernise the legal framework governing the legal profession in Nigeria.
The Two bills—the Legal Practitioners Act (Repeal and Re-enactment) Bill, 2026 (SB. 965) and the Proceeds of Crime Act (Amendment) Bill, 2026 (SB. 343)—scaled third reading during Thursday’s plenary after the Senate considered and adopted the reports of the Committee on Judiciary, Human Rights and Legal Matters.
Presenting the committee’s reports, its chairman, Senator Adeniyi Adegbonmire, said the Legal Practitioners Bill would repeal the existing Legal Practitioners Act, Cap. L11, Laws of the Federation of Nigeria, 2004, and replace it with a modern legal framework that reflects current realities and strengthens the regulation of the profession.
According to Adegbonmire, the proposed legislation is intended to enhance professional standards and provide a more effective regulatory system for legal practitioners.
He informs that the committee recommended the bill for passage after a thorough review, noting that the legal profession plays a vital role in upholding the rule of law and ensuring access to justice. “The legal profession is the guardian of the rule of law, and the primary instrument through which Nigerians access justice. The framework that governs it must be constitutionally sound, proportionate and worthy of the confidence of both the profession and the public itself,” he added.
On the Proceeds of Crime Act (Amendment) Bill, Adegbonmire explained that the legislation seeks to address longstanding concerns over the management of assets recovered from criminal activities by establishing a dedicated agency to oversee the process.
The proposed agency would be responsible for recovering, preserving, managing and disposing of properties reasonably suspected to have been derived from unlawful activities.
He described the bill as a critical step toward closing a major gap in Nigeria’s anti-corruption architecture. “The bill addresses a genuine and long-standing gap in Nigeria’s anti-corruption architecture. Its objectives are laudable, its need is urgent, and the committee is satisfied that, with the amendments recommended in this report, it will serve the public interest well,” he said.
Following the presentation of the reports, the Senate resolved into the Committee of the Whole, adopted the recommendations clause-by-clause and passed both bills through a voice vote.
Speaking after the passage of the Proceeds of Crime Act (Amendment) Bill, Senate President Godswill Akpabio said the new agency would promote transparency and accountability in the management of recovered assets. “Now we have an agency that will manage those properties for the benefit of Nigerians. I also thank my colleagues for rising to the occasion and seeing the need to conclude this,” Akpabio said.
The bill comes against the backdrop of persistent concerns over the custody, maintenance and disposal of assets recovered by anti-graft agencies. Stakeholders have repeatedly advocated for a centralised and transparent framework to prevent abuse, eliminate duplication of responsibilities and ensure recovered assets are properly managed.
With Senate approval secured, both bills will now be transmitted to the House of Representatives for concurrence before being forwarded to the President for assent.
