The House of Representatives yesterday passed for the second reading a Bill to strengthen the recovery and management of the proceeds of crimes in the country.

The Bill, sponsored by Yusuf Adams Gagdi (APC, Plateau), seeks to amend the Proceeds of Crime (Recovery and Management Act Number 92 of 2022.

In his lead debate on the general principles of the Bill, Gagdi recalled that the Bill was enacted to provide a uniform legal framework for the recovery, management, and disposal of proceeds of crime or unlawful activity in Nigeria.

The lawmaker said it was a landmark legislation aimed at strengthening the fight against corruption, money laundering, and economic and financial crimes.

According to him, in the course of implementation, certain legal, procedural, and practical gaps have become apparent.

Gagdi noted that the gaps have limited the effectiveness of the Act in facilitating non-conviction-based forfeiture, protecting whistleblowers, safeguarding witnesses, and ensuring expeditious judicial processes.

He said the amendment Bill seeks to strengthen the Act by closing the identified gaps, enhancing accountability mechanisms, and expanding its operational scope to align with contemporary anti-corruption and asset recovery standards.

Justifying the rationale for the Bill, Gagdi, who heads the House Committee on Navy, said the Bill is rooted in the need to make the proceeds of crime act more effective, responsive, and just in the recovery and management of proceeds of unlawful activities.

He said: “The fight against corruption and illicit financial flows in Nigeria must go beyond conviction-based recovery of assets. Many cases of corruption, economic sabotage, and illicit enrichment cannot be effectively prosecuted due to death of suspects, flight from jurisdiction, or complex legal hurdles.

“Non-conviction-based forfeiture provides an important tool for recovering assets in such situations, while still ensuring due process and judicial oversight.

“Furthermore, the amendment seeks to introduce clarity, consistency, and procedural fairness in the operation of interim and final forfeiture orders, admissibility of evidence, and management of forfeited assets, including digital or virtual assets. This is in line with global best practices and Nigeria’s international obligations under the United Nations Convention Against Corruption (UNCAC) and the Financial Action Task Force (FATF) recommendations.”

Gagdi said the key objectives of the Bill include strengthening the legal framework for non-conviction-based forfeiture by expressly providing for the recovery of properties reasonably suspected to be proceeds or instrumentalities of unlawful activity, even without a criminal conviction.

The lawmaker said it would provide for whistleblowing and witness protection mechanisms under a new Section 81 of the Act, empowering relevant agencies to receive, investigate, and act on credible information while ensuring the safety and welfare of whistleblowers.

Also, the Bill will streamline judicial procedures by defining clear timelines for publication, response, and hearing of forfeiture applications, ensuring expeditious determination of cases and minimizing abuse of court processes, while recognizing virtual assets and digital proceeds of crime by establishing a National Confiscated Wallet for Virtual Assets to be managed by the Central Bank of Nigeria alongside the Confiscated and Forfeited Properties Account.

Besides, the law, he said, would enhance the admissibility of evidence, including hearsay evidence, where necessary for the effective prosecution and recovery process, consistent with civil forfeiture standards, strengthen institutional coordination by empowering relevant organizations to act efficiently and transparently in the recovery, preservation, management, and disposal of forfeited properties and ensure victims’ rights are protected, by allowing proceeds of forfeited properties to be applied for restitution where applicable.

He described the Proceeds of Crime (Recovery and Management) (Amendment) Bill, 2025, as a forward-looking reform aimed at consolidating Nigeria’s anti-corruption architecture.

He said: “It will make asset recovery more efficient, enhance transparency and accountability, and build public confidence in the justice system.

“By supporting this Bill, we will be strengthening the institutional and legal capacity of our nation to trace, recover, and manage proceeds of crime both within and outside our borders.” (the nation)