PROCEEDS OF CRIME ACT

What Is This Policy?

The Proceeds of Crime (Recovery and Management) Act 2022 provides a consolidated legal framework for tracing, seizing, managing, and forfeiting assets that are the proceeds of crime in Nigeria. It establishes an independent Office for the Recovery and Management of Proceeds of Crime to hold and manage forfeited assets pending final court orders.

Who Does It Target?

Persons convicted of or charged with scheduled offences including corruption, fraud, money laundering, drug trafficking, and terrorism Government officials, politicians, and private citizens who have derived assets from criminal activity Companies and trusts used as vehicles to hold, conceal, or transfer the proceeds of crime

What Does It Aim to Achieve?

Ensure that crime does not pay by systematically removing financial benefit from criminal activity Create a professional, corruption-resistant system for managing seized and forfeited assets while legal proceedings are pending Recover and return stolen public funds to the Federation Account for redeployment to public services Strengthen Nigeria's international asset recovery cooperation, enabling it to recover assets hidden in foreign jurisdictions under UNCAC

Key Features

Office of the Recovery and Management of Proceeds of Crime: An independent body manages all seized assets, replacing ad-hoc management by prosecuting agencies which was a source of mismanagement Civil Forfeiture: The Act enables non-conviction-based asset forfeiture where assets can be confiscated without a criminal conviction if a court is satisfied they are proceeds of crime Interim Orders: Courts can issue immediate freezing orders on suspected criminal assets before charges are filed, preventing dissipation of assets Beneficial Ownership Tracing: Investigative powers to trace assets through complex corporate structures, trusts, nominees, and offshore arrangements International Asset Recovery: Nigeria can make and respond to mutual legal assistance (MLA) requests for asset freezing and recovery in foreign jurisdictions under bilateral and multilateral frameworks Victim Compensation Fund: A portion of all forfeited assets is allocated to a victim compensation fund to support restitution for victims of the underlying crimes

Current Status

Rollout Stage: Active; Office of Recovery and Management of Proceeds of Crime established and operational Implementing Body: EFCC (lead); Office of the Attorney-General; Nigerian Financial Intelligence Unit (NFIU); Economic Intelligence Bureau Recovery Track Record: EFCC recovered over N220 billion and $185 million in the first nine months of 2023 across corruption and financial crime cases International Recoveries: Nigeria has recovered over $700 million in stolen assets from foreign jurisdictions since 2006, including Abacha loot from Switzerland, UK, and USA

How to Access

Whistleblowers: Report suspected criminal assets or undisclosed wealth to EFCC: efcc.gov.ng | 0800 1255332 (toll-free) Victims Seeking Compensation: Apply to the Victim Compensation Fund through the EFCC once a conviction and forfeiture order is obtained in your case Legal Practitioners: Review POCA 2022 guidance on asset disclosure obligations for defence lawyers and trust/company service providers Contact: EFCC: efcc.gov.ng | Proceeds of Crime Office: AGF Chambers, Maitama, Abuja

Official Resources

Website: efcc.gov.ng | agf.gov.ng EFCC Whistleblower: 0800 1255332 | Contact: EFCC, No. 5 Fomela Close, Wuse II, Abuja Policy Summary | Source: EFCC, AGF Nigeria, Stolen Asset Recovery (StAR) World Bank/UNODC, IMF AML Review Nigeria 2023 | February 2026

Legal Framework

Enacted under the legislative powers of the National Assembly vested by Section 4 of the 1999 Constitution (as amended). The Proceeds of Crime (Recovery and Management) Act 2022 is the principal statute. Operates alongside the EFCC (Establishment) Act 2004, the ICPC Act 2000, the Money Laundering (Prevention and Prohibition) Act 2022, and Nigeria's obligations under the UN Convention Against Corruption (UNCAC) and FATF Recommendations.