Ethiopia’s House of Peoples’ Representatives has approved a new law enabling the government to recover assets linked to undeclared income. Initially presented in June 2024, the legislation underwent extensive review by the Legal and Justice Standing Committee before receiving final approval on January 9, 2025.
The law introduces a robust framework to reclaim assets tied to criminal activities, targeting both tangible and intangible properties, including bank credits, stocks, bonds, and other economic holdings. Retroactive measures allow the government to seize assets acquired within the past decade, provided their unexplained value exceeds 10 million birr.
A key feature of the legislation permits authorities to freeze assets without court approval for up to three days if there is a risk of their dissipation or loss of value. The proclamation aims to strengthen criminal and anti-corruption efforts, empowering the judiciary to address cases of unexplained wealth.