Proceeds of Crime (Recovery and Management) Act, 2022 🇳🇬

Nigeria 7 Citing Cases

Proceeds of Crime (Recovery and Management) Act, 2022

Published on 17 May 2022
Assented to on 12 May 2022
Commenced on 12 May 2022
[This is the version of this document from 17 May 2022.]

AN ACT TO MAKE COMPREHENSIVE PROVISIONS FOR SEIZURE, CONFISCATION, FORFEITURE, AND MANAGEMENT OF PROPERTIES REASONABLY SUSPECTED TO HAVE BEEN DERIVED FROM UNLAWFUL ACTIVITIES ; AND FOR RELATED MATTERS.ENACTED by the National Assembly of the Federal Republic of Nigeria—

Part I – OBJECTIVES AND APPLICATION OF THIS ACT

1. Objectives

(1)The objectives of this Act are to—

(a)provide for an effective legal and institutional framework for the recovery and management of the proceeds of crime,benefits derived therein, instrumentality of unlawful activities, and unclaimed properties reasonably suspected to be proceeds of crime ;

(b)make provisions for the restraint, seizure, confiscation and forfeiture of property derived from unlawful activities and any instrumentalities used or intended to be used in the commission of…

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