Senate President, Godswill Akpabio, has been accused of frustrating the establishment of a proposed Proceeds of Crime (Recovery and Management) Agency after the Senate rescinded its earlier passage of legislation seeking to create the institution.
The controversy followed the Senate’s decision to reverse its July 9, 2026 passage of the Proceeds of Crime (Recovery and Management) (Amendment) Bill, 2026, after lawmakers had already adopted the report of the Senate Committee on Judiciary, Human Rights and Legal Matters recommending the creation of a standalone agency.
The bill, sponsored by Senator Idiat Adebule, representing Lagos West, had passed through first and second readings, committee scrutiny, a public hearing, consideration by the Committee of the Whole, approval of all 51 clauses and third reading before Senate Leader Michael Opeyemi Bamidele, representing Ekiti Central, moved for its rescission.
Sources who spoke on condition of anonymity alleged that Bamidele’s move was orchestrated by Akpabio to frustrate the establishment of the agency.
“The bill had gone through all the processes involved to ensure establishment of the agency. In fact, the whole Senate approved it. It went through first reading, second reading, third reading, even the committee on legal matters and judiciary examined it, just for the Senate leader to want to frustrate the efforts by quickly packaging a rescission bill,” one source said.
The rescission effectively overturned the Senate’s July 9 approval, meaning the proposed agency no longer has the legislative passage secured on that date. The bill would therefore have to be reconsidered and passed again before the proposed institution could proceed on the basis of the legislation.
The development is notable because the proposed agency was not introduced at the final stage of the legislative process. Its establishment was the central objective of legislation that had already undergone extensive committee scrutiny and stakeholder engagement.
The Senate Committee on Judiciary, Human Rights and Legal Matters had recommended the establishment of a standalone Proceeds of Crime (Recovery and Management) Agency to replace an existing framework under which asset recovery and management responsibilities are dispersed across at least 18 separate agency-based directorates.
According to the committee’s report, the bill sought to transition the existing structure under the Proceeds of Crime (Recovery and Management) Act, 2022, into a single institution with corporate legal personality, perpetual succession and a centralised mandate for the recovery, preservation and disposal of properties reasonably suspected to have been derived from unlawful activities.
The recommendation followed a public hearing held on February 26, 2026, at the National Assembly Complex in Abuja.
The committee had advertised the bill in national newspapers and received memoranda from 22 organisations and individuals, including law enforcement and regulatory agencies, professional bodies and civil society organisations.
Among those that submitted memoranda were the Economic and Financial Crimes Commission, Independent Corrupt Practices and Other Related Offences Commission, National Drug Law Enforcement Agency, Department of State Services, Code of Conduct Bureau, National Human Rights Commission, Nigerian Bar Association and Transparency International Nigeria.
The Nigerian Law Reform Commission, Policy and Legal Advocacy Centre, Socio-Economic Rights and Accountability Project and Civil Society Legislative Advocacy Centre were also among the organisations that made submissions.
The committee subsequently considered the memoranda and evidence presented at the hearing before arriving at its observations, findings and recommendations.
Documents seen by this newspaper also show that Bamidele, who later sponsored the motion to rescind the Senate’s July 9 passage, was a member of the same Senate Committee on Judiciary, Human Rights and Legal Matters that scrutinised the bill and recommended the creation of the agency.
The committee’s endorsement page listed “Senator Michael Opeyemi Bamidele, CON” among its members alongside the committee chairman, Senator Adegbonmire Adeniyi Ayodele, SAN, and other members.
His membership meant he was part of the committee that considered the bill before it was presented to the Senate for passage. He subsequently moved the motion seeking to reverse that approval.
A source questioned why Bamidele allegedly did not oppose the bill at the committee stage or raise concerns during plenary, instead waiting until after the legislative process had been completed.
When the bill came before the Senate on July 9, lawmakers considered the committee’s report clause by clause and approved all 51 clauses.
Clause 2 specifically provided for the establishment of the proposed agency, stating: “There is established a body to be known as the Proceeds of Crime (Recovery and Management) Agency.”
The agency was to be constituted as “a body corporate with perpetual succession and a common seal,” with the power to sue and be sued in its corporate name.
The bill also empowered the proposed institution to acquire, hold and dispose of movable and immovable property for the performance of its statutory functions.
Its headquarters was designated for the Federal Capital Territory, Abuja, while it would have powers to establish zonal offices in any state of the federation where necessary.
The proposed legislation set out objectives including the creation of “an effective legal and institutional framework for the recovery and management of the proceeds of crime, in accordance with due process and the rule of law.”
It also provided for the restraint, seizure, confiscation and forfeiture of property derived from unlawful activities and instrumentalities used or intended to be used in committing offences.
Another major provision was the introduction of a non-conviction-based procedure for recovering proceeds of crime.
The bill further sought to strengthen criminal confiscation procedures by providing for the calculation of the total benefit derived from a person’s criminal activity and the confiscation of an equivalent amount, where recoverable, on behalf of the Federal Government.
The proposed agency would also have been responsible for managing recovered assets and properties while facilitating collaboration among organisations involved in tracing and forfeiting assets reasonably suspected to be proceeds of unlawful activity.
The July 9 proceedings show that the bill received approval at multiple stages.
At the conclusion of the clause-by-clause consideration, the President of the Senate reported that the Committee of the Whole had considered the report of the Judiciary, Human Rights and Legal Matters Committee and approved “Clauses 1-51 As Recommended.”
The Senate subsequently adopted the report of the Committee of the Whole.
Bamidele, who later sponsored the motion to rescind the passage, had himself moved that the bill be read for the third time before the motion for its passage was put to the Senate and approved.
The official record thereafter stated: “Bill accordingly Read the Third Time and Passed.”
The passage followed the earlier adoption of the committee’s recommendation for the establishment of the agency.
The bill’s legislative journey had begun earlier, with the Senate considering its general principles on November 13, 2025, before referring it to the Judiciary, Human Rights and Legal Matters Committee for further legislative action.
At the February public hearing, committee chairman Adegbonmire Adeniyi Ayodele, SAN, said the committee approached the exercise with an open mind and was committed to receiving different perspectives before reaching a considered legislative position.
Senator Mohammed Tahir Monguno, who represented the Senate President at the opening of the hearing, described the management of proceeds of crime as a critical component of Nigeria’s anti-corruption architecture.
He commended the committee for subjecting the bill to broad stakeholder engagement and described the proposed amendment as a “bold legislative step” towards addressing longstanding structural challenges in asset recovery and management.
Despite the July 9 passage, Bamidele subsequently sponsored a motion seeking to rescind the Senate’s decision. A copy of the motion was seen by this newspaper.
The motion expressly acknowledged the earlier passage, stating that the Senate “recalls that the Proceeds of Crime Act (Amendment) Bill, 2026 was considered and passed by the Senate at its plenary held on Thursday, 9th July, 2026.”
It said that following the passage, “certain substantive drafting, legal and policy issues requiring further legislative scrutiny and refinement were identified.”
According to the motion, the issues were considered fundamental to effective implementation and, if left unresolved, could “undermine the objectives of the Bill and create unintended legal and operational consequences.”
The motion argued that revisiting the bill was in the “overriding public interest” and consistent with the Senate’s responsibility to enact sound, coherent and implementable legislation.
Sources, however, alleged that Bamidele had opportunities to raise any concerns during the legislative processes, including at committee level, but waited until after the bill had completed all stages.
“What exactly are they scared of? The overriding public interest could have stopped the bill from being passed, but it went through all stages and suddenly they now came with some excuses to wield their power,” another source said.
The motion further stated that rescinding the earlier decision would allow the Senate to reconsider the affected provisions and ensure that the legislation conforms with international best practices in asset recovery and proceeds of crime management, as well as Nigeria’s constitutional and legal framework.
Relying on Orders 1(b) and 52(6) of the Senate Standing Orders, 2023, as amended, the motion resolved to “Rescind its decision of Thursday, 9th July, 2026 on the passage of the proceeds of Crime Bill 2026 to allow for refinement and proper scrutiny.”
However, documents seen by this newspaper and subsequent public statements by the Senate did not disclose the specific legal, drafting or policy issues identified in the bill, beyond general references to public interest and the need for further scrutiny.
The rescission has consequently altered the legislative status of the proposed agency. Although the Senate had approved its establishment as part of the July 9 passage, that decision has now been overturned, leaving the proposed institution without the legislative passage it previously secured.
The bill was also designed to establish a clearer framework for asset recovery, non-conviction-based forfeiture, confiscation and the management of properties forfeited to the Federal Republic of Nigeria.
Sources described the rescission as a setback to efforts to establish a centralised system for managing recovered assets in Nigeria.
“You see a case where assets are seized and suddenly you can’t get to know how they are managed. One would have expected the Senate President Akpabio and Senate Leader Bamidele to be eager to get the agency working, but that’s not the case,” another source said.
Earlier in July, EFCC Chairman Ola Olukoyede described the Proceeds of Crime Act, which has now been rescinded, as a laudable step in the fight against corruption.
By reversing its July 9 decision, the Senate has withdrawn its earlier approval of the proposed framework. The agency can therefore no longer rely on that passage as the legislative basis for its establishment unless the bill is reconsidered and passed again.
When contacted, Akpabio’s spokesperson, Eseme Eyiboh, declined to comment, saying the matter was one “bothering on the Nigerian Senate” and that he could not speak on the allegations against the Senate President.
Eyiboh was subsequently asked to respond specifically to the allegation that Akpabio influenced Bamidele’s decision to seek rescission of the bill and, by extension, the proposed agency’s establishment. He had not responded as of the time of filing the report.
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