Nigeria’s Proceeds of Crime Bill Would Centralize Asset Recovery in a New Agency

Nigeria’s President Muhammadu Buhari made fighting corruption a priority when he came to power, yet distributed processes and ownership of asset recovery remain challenges. The Proceeds of Crime (Recovery and Management) Agency Bill 2020 (PCRMA Bill or Bill) introduced by Buhari in October 2020 aims to streamline responsibility, strengthen Nigeria’s ability to go after the proceeds of crime and proposes the creation of a new agency, as well as a slew of other legislative changes. The Bill is not as comprehensive as many international bodies would like to see, however, and some in Nigeria fear it will dilute other agencies’ power. We spoke to Ekomobong Ekpro, a U.K. and Nigerian-trained lawyer who serves as the legal officer and secretary for the compliance committee at oil and gas company Ringardas Nigeria Limited, about the current state of anti-corruption enforcement in Nigeria, the need for the Bill, and what it hopes to accomplish for Nigeria’s evolving anti-corruption landscape. See “Regional Risk Spotlight: Ayoka Akinosi Discusses the Crackdown on Corruption in Nigeria” (Feb 24, 2016).

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