Senate Advances Bill to Transfer Control of Recovered Assets from EFCC, ICPC to New Agency

The Nigerian Senate has passed the second reading of a controversial bill seeking to divest the Economic and Financial Crimes Commission (EFCC), the Independent Corrupt Practices and Other Related Offences Commission (ICPC), and other anti-corruption agencies of the authority to manage assets and funds recovered from criminal activities.

The bill, titled “Proceeds of Crime (Recovery and Management) Act (Amendment) Bill, 2025,” aims to centralize the custody, management, and disposal of all forfeited assets under a single body—believed to be the already established Proceeds of Crime.

Supporters of the bill argue that this move will ensure transparency, accountability, and proper coordination in the handling of seized assets, which has often been marred by controversy and allegations of mismanagement by various anti-graft agencies.

owever, critics warn that the bill could weaken the operational independence of the EFCC and ICPC, hinder the momentum of the country’s anti-corruption fight, and create bureaucratic delays in asset recovery processes.

The legislation now proceeds to the committee stage for further scrutiny and possible amendment before a final vote.

The development comes amid ongoing debates about reforming Nigeria’s anti-corruption framework and ensuring better oversight of recovered assets.