The Senate has rescinded its earlier passage of the Proceeds of Crime Act (Amendment) Bill, 2026, citing significant legal, policy and drafting deficiencies that require further legislative review.
The decision, reached during plenary on Thursday, effectively reopens deliberations on the proposed amendment to ensure it aligns with Nigeria’s constitutional framework and international best practices on asset recovery and the management of proceeds of crime.
Leading the motion, Senate Leader Opeyemi Bamidele said lawmakers identified substantive issues in the bill after its passage, making it necessary to suspend further legislative action pending a comprehensive review.
According to him, the identified shortcomings could undermine the effectiveness of the proposed law if left unaddressed.
Bamidele explained that the concerns bordered on drafting errors, legal inconsistencies and policy gaps, warning that such flaws could create unintended legal and operational consequences during implementation.
The Senate agreed that revisiting the legislation was in the overriding public interest and consistent with its constitutional responsibility to enact sound, coherent and enforceable laws.
Lawmakers also noted that some provisions of the private member’s bill were inconsistent with internationally accepted standards governing the recovery, management and disposal of proceeds of crime.
They maintained that the fresh review would strengthen the legislation and eliminate provisions that could create conflicts in the country’s legal framework.
Following the resolution, the amended bill is expected to be reworked and resubmitted to the Senate after the identified legal, policy and drafting issues have been addressed.
The move is expected to ensure that the proposed amendment meets constitutional requirements and conforms with global best practices before it is reconsidered for passage.
'
'Do you want to share a story with us? Do you want to advertise with us? Do you need publicity for a product, service, or event? Contact us on WhatsApp +2348183319097 Email: platformtimes@gmail.com
We are committed to impactful investigative journalism for human interest and social justice. Your donation will help us tell more stories. Kindly donate any amount HERE
