By Desire Emmanuel
A hotel in Lagos State and three other properties seized from drug kingpins in by the National Drug Law Enforcement Agency (NDLEA) and forfeited to the Federal Government through court processes were on Monday, June 15, auctioned for the sum of N6.148 billion.
This was the outcome of a competitive bid process for the sale of eight assets forfeited by drug barons in parts of the country.
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, 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.
Other winners included FSS Limited which won a property at Lekki Phase 1 Lagos for N219.5 million; 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 N29.36 million.
In his remarks at the ceremony, Chairman/Chief Executive Officer of NDLEA, Mohamed Buba Marwa, represented by the agency secretary, Shadrach Haruna, noted that “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.”
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 will be conducted openly, fairly and transparently in the presence of all attendees.”
