CREAP Africa Commends Senate on Landmark Recovered Assets Agency Bill
By Uangbaoje Alex, Kaduna
The CREAP Africa Initiative has welcomed the passage of the Proceeds of Crime (Recovery and Management) Act (Amendment) Bill, 2026 by the Nigerian Senate, describing it as a significant milestone in strengthening transparency and accountability in the country’s anti-corruption framework.
In a statement issued on Thursday by its Executive Director, Sylvanus Udoenoh, the organisation said the proposed legislation, which seeks to establish an independent agency to manage, preserve, recover and dispose of proceeds of crime and forfeited assets, addresses longstanding concerns over the fragmented management of recovered assets in Nigeria.
CREAP Africa noted that for years, weak institutional coordination, inadequate accountability mechanisms and the absence of a central framework for managing recovered assets had undermined public confidence in the country’s asset recovery process.
The organisation said creating a dedicated agency would provide a more transparent and professional system for safeguarding assets recovered through anti-corruption efforts.
“Recovered assets belong to the Nigerian people and must be managed in a manner that promotes public trust, national development and the rule of law. Every naira recovered from corruption should ultimately serve the public interest by supporting development priorities and strengthening confidence in democratic institutions,” the statement said.
CREAP Africa also acknowledged the contributions of the National Assembly, anti-corruption agencies, civil society organisations, legal practitioners, development partners and citizens who have consistently advocated reforms to improve accountability in public asset management.
While welcoming the Senate’s action, the organisation cautioned that the passage of the bill was only one phase of a broader reform process.
It said the effectiveness of the proposed agency would depend on its operational independence, transparent guidelines, effective oversight, regular public reporting and strict adherence to constitutional and legal safeguards.
The organisation called on the House of Representatives and President to expedite the remaining legislative and constitutional processes required for the bill to become law.
It also urged the Federal Government to ensure the agency operates independently and free from political interference, while calling on oversight institutions to establish robust auditing and accountability mechanisms for the management and disposal of recovered assets.
CREAP Africa further appealed to civil society organisations, the media and citizens to sustain public oversight by monitoring the implementation of the law and demanding full disclosure of recovered assets and their utilisation.
The organisation congratulated the Senate and all stakeholders whose advocacy and technical contributions made the legislative milestone possible, saying the proposed law would strengthen Nigeria’s anti-corruption architecture and reinforce the principle that proceeds of crime should benefit society rather than criminals.
CREAP Africa reaffirmed its commitment to supporting initiatives that promote transparency, accountability, democratic governance and the responsible management of public resources.
