Senate passes bill to create agency for management of recovered assets

The Senate has passed a measure seeking the constitution of an autarkic bureau liable for the recovery, protection, medication and disposal of assets linked to amerciable activities.

The legislation, according to lawmakers, is designed to fortify Nigeria’s anti-corruption efforts and beforehand transparency successful the handling of recovered properties.

The precocious enclosure besides approved the Legal Practitioners Act (Repeal and Re-enactment) Bill, 2026, aft reviewing and adopting the recommendations of the Senate Committee connected Judiciary, Human Rights and Legal Matters.

Both bills, the Legal Practitioners Act (Repeal and Re-enactment) Bill, 2026 (SB. 965) and the Proceeds of Crime Act (Amendment) Bill, 2026 (SB. 343) passed the 3rd speechmaking signifier during Thursday’s plenary session.

Presenting the committee’s reports, its chairman, Senator Adeniyi Adegbonmire, explained that the Legal Practitioners Bill seeks to repeal the existing Legal Practitioners Act, Cap. L11, Laws of the Federation of Nigeria, 2004, and present a caller ineligible model for regulating the profession.

He...