The Senate has rescinded its earlier passage of the Proceeds of Crime Act (Amendment) Bill, 2026, following the discovery of significant legal, policy and drafting issues requiring further legislative scrutiny.
The decision was reached during Thursday’s plenary after lawmakers unanimously adopted a motion sponsored by the Senate Leader, Opeyemi Bamidele, to revisit the bill, which had initially been passed on July 9.
Presenting the motion, Bamidele said a post-passage review of the legislation revealed several deficiencies that could hinder its effective implementation if left unresolved.
He explained that the identified drafting, legal and policy concerns required further refinement to ensure the legislation achieves its intended objectives.
“The identified issues are fundamental to the effective implementation of the proposed legislation and, if left unaddressed, may undermine the objectives of the bill and create unintended legal and operational consequences,” Bamidele said.
According to him, the Senate considered it necessary to revisit the bill to ensure it aligns with Nigeria’s constitutional provisions and international best practices on asset recovery and the management of proceeds of crime.
He added that reconsidering the legislation would enable lawmakers to produce a more coherent and implementable law that strengthens Nigeria’s anti-corruption framework.
The motion briefly generated procedural debate after Senator Yahaya Abdullahi questioned whether it had been properly listed on the supplementary order paper.
However, Senate President Godswill Akpabio ruled that the motion complied with the Senate’s Standing Orders, while Bamidele clarified that Abdullahi’s concerns were procedural rather than substantive.
Abdullahi later threw his weight behind the motion, describing the review as being in the national interest, while seeking clarification on whether the revised bill would return to the relevant committee or be handled by the National Assembly’s legal department.
Deputy Senate President Barau Jibrin also supported the move, saying correcting flaws in a bill before it becomes law demonstrates responsible lawmaking rather than legislative failure.
Senator Abdul Ningi equally endorsed the review, noting that reconsidering legislation is a common parliamentary practice. He further recommended that the bill’s sponsor, Senator Idiat Adebule, should play a central role in refining the proposed amendments.
Although some lawmakers suggested that substantial revisions might require another public hearing, Akpabio ruled that the matter before the chamber was limited to withdrawing the earlier passage of the bill.
Following a voice vote, the Senate unanimously approved the rescission and directed that the legislation should not be transmitted to the House of Representatives until all identified issues have been addressed.
The proposed bill, sponsored by Senator Idiat Adebule, seeks to establish an independent agency responsible for the recovery, preservation, management and disposal of assets suspected to have been acquired through criminal activities.
Supporters of the legislation argue that it would strengthen Nigeria’s anti-corruption efforts by separating asset management from criminal prosecution, standardising the handling of forfeited assets and creating a central database to enhance transparency and accountability.