The Economic and Financial Crimes Commission has commenced the auction of a total of 435 cars, which are subjects of final forfeiture orders in Lagos in line with the EFCC (Establishment) Act 2004; Public Procurement Act 2007; and Proceeds of Crimes (Recovery and Management) Act 2022.
The development was announced by the anti-graft agency in a statement by its Media and Public Relations Unit.
The exercise, scheduled to take place across the Commands of the Commission, started on December 6, 2022 in Lagos with the inspection of the vehicles by members of the public, while the auction began on December 7 and continues on December 8.
The items are available in four locations: 40, Bourdillon Road, Ikoyi, Lagos; 15A, Awolowo Road, Ikoyi, Lagos; 14 Cameroon Road, Ikoyi, Lagos; and CVU, Obalende, Ikoyi, Lagos.
Speaking during the opening ceremony on Wednesday, Dr. George Ekpungu, Secretary to the Commission and Chairman, EFCC Asset Disposal Committee, said: “The exercise, which is the first of the planned auction of forfeited properties across EFCC Zonal Commands and EFCC Headquarters, is being carried out in accordance with the (Establishment) Act, 2004, Public Procurement Act, 2007 and Proceeds of Crimes (Recovery and Management) Act, 2022.
“It is being conducted in conjunction with the Bureau of Public Procurement to ensure compliance with all extant laws.”
While welcoming the auctioneers to the Centre, the Secretary expressed his gratitude to sister agencies, including the Nigerian Army, who were invited to provide adequate security and ensure orderliness.
Ekpungu also appealed to the members of the public present at the auction to listen carefully to the auctioneers and comply with all stipulated guidelines.
The nine auctioneers who were allocated to the Lagos Zonal Command of the EFCC to dispose of the 435 cars at designated Centre on 14 Cameron Road, Ikoyi, Lagos are Rihanna Auction Limited; Kamyus Consult Limited; Areogun Resources Limited; BIS N JEG; Integrated Services Nigeria Limited; Mau & Sons Limited; Langar Aghaji & Co; Fagobe Company Limited; and Musa Kira and Co.
The cars, which pictures were conspicuously displayed with allocated lot numbers for public inspection, were allocated to auctioneers based on assessed values and open ballot system.
The display was to provide an opportunity for interested bidders to view and indicate interest in any car of their choice.
