By Gabriel Ameh
The National Drug Law Enforcement Agency (NDLEA) has successfully auctioned a hotel in Lagos and three other properties forfeited by convicted drug traffickers to the Federal Government, generating a total of N6.15 billion.
The sale followed a competitive bidding process involving eight assets previously seized from drug barons across different parts of Nigeria. While four properties attracted winning bids above the reserve prices, four others failed to meet the required benchmark and were not sold.
At the bid-opening ceremony held at the NDLEA headquarters in Abuja on Monday, the Head of the Asset Recovery and Management Unit of the Federal Ministry of Justice, Tamarantare Francis Ali-Bozi, announced the successful bidders.
A six-floor hotel located in Victoria Island, Lagos, attracted the highest bid of N5.9 billion, submitted by Tope Ojo and Tunde Olonishakin Estate Firm. Other successful bidders included FSS Limited, which acquired a property in Lekki Phase 1, Lagos, for N219.5 million; A-BNB Global Innovations Limited, which purchased a block of flats in Ejigbo, Lagos, for N104 million; and Fazeen Global Link Limited, which secured a property in Akure, Ondo State, for N29.36 million.
Speaking at the event, NDLEA Chairman and Chief Executive Officer, Brigadier General Mohamed Buba Marwa (Rtd), represented by the Agency Secretary, Shadrach Haruna, said the auction demonstrates the Federal Government’s commitment to transparency, accountability and effective management of recovered criminal assets.
According to him, public auctions not only generate revenue for the government but also strengthen public confidence in the rule of law by ensuring that proceeds of crime do not remain in the hands of criminals.
Marwa reaffirmed the agency’s determination to intensify efforts against drug trafficking networks, recover illicit proceeds and ensure that forfeited assets are managed in the public interest.
He stressed that the auction process was conducted in strict compliance with the Proceeds of Crime (Recovery and Management) Act 2022, the Public Procurement Act 2007 and other relevant regulations.
The NDLEA boss further noted that all properties were professionally valued by the Federal Ministry of Housing and Urban Development, while auctioneers engaged for the exercise were thoroughly screened to ensure they had no links to criminal activities.
Representatives of the Independent Corrupt Practices and Other Related Offences Commission (ICPC), civil society organisations, auctioneers, bidders and members of the public witnessed the exercise as part of measures aimed at guaranteeing transparency and public trust in the process.
