The Nigerian Senate has advanced a bill to centralize asset recovery, reducing EFCC and ICPC’s roles. The proposed agency aims to tackle inefficiencies and increase transparency in managing recovered assets.
- The bill seeks to amend the 2022 Proceeds of Crime Act by creating a single asset management agency.
- Senator Idiat Adebule argues that overlapping functions among 18 agencies have created opacity and waste.
- Critics warn the move could expand government bureaucracy and weaken existing anti-corruption institutions.
The bill has been sent to the Judiciary Committee for further scrutiny. Will this reform ensure recovered public wealth is used for development, or create more red tape?
