NDLEA auctions Lagos hotel, three other forfeited properties at N6.1bn

…It’s a message cartels won’t enjoy proceeds of crimes anymore – Marwa

The National Drug Law Enforcement Agency (NDLEA), said the Lagos hotel and three other properties seized from drug kingpins and forfeited to the Federal Government through Court processes had 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, the NDLEA Director of Media and Advocacy, said in a statement, that this was the outcome of a competitive bid process for the sale of eight assets forfeited by drug barons in parts of the country.

The bidders, who offered above reserved prices emerged winners of four of the listed properties.

The agency said bids for four others failed because none offered up to the reserved prices.

Tamarantare Francis Ali-Bozi, the Agency’s Head of Asset Recovery and Management Unit of the Federal Ministry of Justice, 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.

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 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.

The bid opening ceremony was attended by representatives of ICPC, Civil Society Organisations, auctioneers and bidders at the NDLEA Headquarters in Abuja on Monday.

Buba Marwa, retired Brigadier-General and Chairman/Chief Executive Officer of NDLEA, who was represented by the Agency Secretary, Shadrach Haruna noted that “public auctions such as this serve a broader national purpose.

He disclosed that 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.”

Marwa also assured that “the Agency remains steadfast in its determination to strengthening 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”,

He added that, “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.”

Speaking on the integrity of the process, the NDLEA boss stated that “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.

“The bids received for each lot will be evaluated against the approved reserve price, and the highest responsive bidder who satisfies all requisite conditions shall be declared the successful bidder.

“The entire process would be conducted openly, fairly and transparently in the presence of all attendees.”

He stated that the process culminating in auction had been conducted in strict compliance with the provisions of the Proceeds of Crime (Recovery and Management) Act, 2022, the Public Procurement Act, 2007, and all other applicable laws, regulations and guidelines.

Consistent with the Agency’s commitment to transparency, accountability and due process, all assets earmarked for auction were professionally valued by the Federal Ministry of Housing and Urban Development, the designated official valuer of the Federal Government.

“Furthermore, the Agency undertook extensive due diligence and security screening of all auctioneers pre-qualified by the Bureau of Public Procurement (BPP).

“We are satisfied that none of the auctioneers engaged in this process has any known involvement in drug-related offences or any other criminal activity capable of compromising the objectives of the Proceeds of Crime (Recovery and Management) Act or the integrity of this exercise”, he added.