0
A Lagos hotel and three other properties seized from drug kingpins by the National Drug Law Enforcement Agency (NDLEA) and forfeited to the Federal Government through court processes have been auctioned for the sum of Six Billion One Hundred and Forty-Eight Million Nine Hundred and Sixty-Four Thousand Naira (N6,148,964,000.00) only.
Femi Babafemi, Director, Media & Advocacy, NDLEA Headquarters, Abuja, in a release on Monday, explained the auction was the outcome of a competitive bid process for the sale of eight assets forfeited by drug barons in parts of the country.
He said while bidders who offered above reserved prices emerged winners of four of the listed properties, bids for four others failed because none offered up to the reserved prices.
Announcing the winning bids at the bid opening ceremony attended by representatives of ICPC, Civil Society Organisations, auctioneers and bidders at the NDLEA headquarters in Abuja on Monday 15th June 2026, the Head of Asset Recovery and Management Unit of the Federal Ministry of Justice, Tamarantare Francis Ali-Bozi, declared Tope Ojo and Tunde Olonishakin estate firm as winner of a six-floor hotel located in Victoria Island Lagos with N5.9 billion offer.
He said other winners included FSS Limited which won a property at Lekki Phase 1 Lagos for N219,500,000.00; A-BNB Global Innovations Limited whose bid emerged winner of a block of flats located in Ejigbo Lagos for N104 million and Fazeen Global Link Limited which won a property in Akure, Ondo State for N29,360,000.00.
In his remarks at the ceremony, Chairman/Chief Executive Officer of NDLEA, Brig Gen Mohamed Buba Marwa (rtd) who was represented by the Agency Secretary, Shadrach Haruna, noted, “Public auctions such as this serve a broader national purpose. Beyond generating revenue for the government, they reinforce public confidence in the rule of law, demonstrate accountability in the management of recovered assets, and send a clear message that criminal proceeds will not be allowed to remain in the hands of those who seek to profit from the misery and destruction caused by illicit drugs.”
He assured that “the agency remains steadfast in its determination to strengthen Nigeria’s asset recovery framework and to ensure that recovered assets are managed and disposed of in a manner that is transparent, lawful and beneficial to the public interest.”
