The agency sold four of the eight forfeited properties offered during a competitive bidding exercise held at its headquarters in Abuja, after the successful bids exceeded the approved reserve prices.
Head of Asset Recovery and Management Unit at the Federal Ministry of Justice, Tamarantare Ali-Bozi, said Tope Ojo and Tunde Olonishakin Estate Firm secured the Victoria Island hotel with a winning bid of N5.9bn.
A-BNB Global Innovations Limited acquired a block of flats in Ejigbo, Lagos, for N104m, while FSS Limited purchased a property in Lekki Phase 1, Lagos, for N219.5m. Fazeen Global Link Limited also emerged successful with a N29.36m bid for a property in Akure, Ondo State.
Ali-Bozi noted that the remaining four properties failed to attract bids that met their reserve values and were therefore not sold.
Speaking on the outcome of the auction, NDLEA Chairman and Chief Executive Officer, Brig. Gen. Mohamed Buba Marwa (retd.), represented by the agency’s Secretary, Shadrach Haruna, said the disposal of recovered assets was intended to strengthen public confidence in the rule of law and ensure accountability in the management of proceeds recovered from crime.
Marwa said, “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 added, “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.”
Marwa further said, “We shall continue to pursue drug traffickers, dismantle criminal networks, recover the proceeds of crime and uphold the rule of law without fear or favour.”
The NDLEA chairman said the agency invited representatives of sister law enforcement and regulatory agencies, civil society organisations, the media, prospective bidders and members of the public to witness the bid-opening exercise in order to strengthen transparency and public confidence.
“To further enhance transparency and public confidence in the process, representatives of sister law enforcement and regulatory agencies, civil society organisations, the media, prospective bidders and members of the public have been invited to witness the bid-opening exercise,” he said.
Marwa stated that the auction complied with the provisions of the Proceeds of Crime (Recovery and Management) Act, 2022, the Public Procurement Act, 2007, and other relevant regulations.
He added that all the assets were professionally valued by the Federal Ministry of Housing and Urban Development, while auctioneers pre-qualified by the Bureau of Public Procurement underwent due diligence and security screening before participating in the exercise.
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