By Omoyeni Ojeifo
In a clear warning to criminals, the NDLEA has auctioned off a Lagos hotel and three other forfeited properties linked to drug kingpins for ₦6.148 billion.
Officials emphasized that drug traffickers will not be permitted to enjoy the proceeds of their illicit trade.
Details of the auction were contained in a statement emailed to Persecondnews by Femi Babafemi, Director, Media and Advocacy, NDLEA Headquarters, Abuja, on Monday.
At the bid opening ceremony held at the headquarters in Abuja and attended by representatives of the ICPC, civil society organisations, auctioneers and bidders, the Head of the Asset Recovery and Management Unit of the Federal Ministry of Justice, Tamarantare Francis Ali-Bozi, announced Tope Ojo and Tunde Olonishakin Estate Firm as the successful bidders for a six-storey hotel located in Victoria Island, Lagos, with an offer of N5.9 billion.
The auction covered eight forfeited assets linked to drug barons in different parts of the country.
Four of the properties attracted bids that surpassed their reserved prices and were successfully awarded, while the remaining four did not receive qualifying offers as none met the set valuation benchmarks.
Other winners include FSS Limited, which won a property at Lekki Phase 1, Lagos, for N219,500,000.00; A-BNB Global Innovations Limited, which 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.
Retired Brig.-Gen Mohammed Buba Marwa, NDLEA Chairman/Chief Executive Officer, who was represented by the Agency Secretary, Shadrach Haruna, in his remarks, said that the aim of auctions of this nature are not only about generating revenue, but about advancing the broader interest of the nation.
“This is not just about revenue generating, It reinforces trust in the justice system, strengthens accountability in the management of recovered assets, and delivers a clear warning that crime does not pay, ”he said.
He further noted that the auction process was conducted transparently with representatives of sister law enforcement and regulatory agencies, civil society organisations, the media, prospective bidders and members of the public in attendance.
According to him, the bids received for each lot were evaluated against approved reserve prices, and the highest responsive bidder who satisfied all conditions was declared successful.
He explained that all assets were professionally valued by the Federal Ministry of Housing and Urban Development, while auctioneers were pre-qualified by the Bureau of Public Procurement (BPP) after due diligence and security screening.
“The process of the bidding complied strictly with the provisions of the Proceeds of Crime (Recovery and Management) Act, 2022, the Public Procurement Act, 2007, and all other applicable laws and guidelines.”
He added that none of the auctioneers involved in the exercise have a criminal record, ensuring the integrity of the process remains uncompromised.
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