Section 3: Establishment and functions of the Proceeds of Crime Management Directorate in the relevant organisation.

The relevant organisation shall—
a enforce and administer the provisions of this Act;
b establish Proceeds of Crime (Management) Directorate which shall—
(i) take over and assume responsibility for the proper and effective management of properties forfeited to the Federal Government of Nigeria,
(ii) set standards to be applied in the handling of properties forfeited to the Federal Government of Nigeria,
(iii) ensure accountability in the management of all properties forfeited to the Federal Government of Nigeria,
(iv) ensure the effective administration of properties forfeited to the Federal Government of Nigeria,
(v) recommend training on the management of the proceeds of crime and related matters, and
(vi) appoint private asset managers and ensure that the assets managers are properly bonded and insured;
c establish and maintain—
(i) assets management and disposal systems, and
(ii) lists of approved auctioneers and valuers, and issue instructions for the realisation or security of assets whilst ensuring fair process;
d establish and maintain a central database of —
(i) all seized and recovered assets by the relevant organisation, and
(ii) asset managers, auctioneers, insurers, and other necessary support services;
e work with the Federal Ministry of Justice to negotiate the return and management of all assets seized from foreign countries on behalf of the Federal or State Governments, or any other victim or for the benefit of Nigerians;
f maintain statistics as to amounts recovered and managed;
g collaborate with other government bodies outside Nigeria that are carrying on functions, wholly or in part similar to it;
h maintain an accurate inventory of all assets, with records of their location, value, condition, and description of their status in relation to any proceedings before the Court;
i recommend reparations to victims of crime, where proceeds have been recovered; and
j carry out such other necessary or expedient functions as may be assigned to it by the head of the relevant organisation to ensure the efficient performance of its functions under this Act.