Auction: EFCC invites Nigerians to bid for forfeited landed properties nationwide

The Economic and Financial Crimes Commission (EFCC) has announced plans to auction some landed properties that have been permanently forfeited to the federal government.

The properties were forfeited based on court orders obtained by the EFCC over the years.

EFCC’s spokesperson, Wilson Uwujaren, said in a statement on Wednesday, that the commission had on Saturday announced the commencement of the auction exercise with an advertorial in major newspapers inviting bids for the properties

The commission also asked interested participants or organisations to submit their bids by noon on Monday, 9 January 2023.

The commission said the exercise would be conducted in accordance with the Economic and Financial Crimes Commission (Establishment) Act, 2004, the Public Procurement Act, 2007 and the Proceeds of Crime (Recovery and Management) Act, 2022.

The EFCC chairman, Abdulrasheed Bawa, had announced on 16 December that the commission would soon kick off the sales of forfeited estate properties across the nation following its completion of the sales of forfeited automobiles across the country.

The EFCC had concluded the auctioning of forfeited vehicles across the country. At one of the auctioning events in Abuja, PREMIUM TIMES observed how the process recorded disorderliness.

Estates on sale

EFCC said parts of the properties to be auctioned consist of 61 units of luxury apartments, and plots of land across the country are being offered for sale.

The breakdown of the properties is 24 Units of a luxurious block of flats at Banana Island, Lagos; 21 units of luxury terrace and block of flats at Thornburn, Yaba, Lagos; and 16 units of four bedrooms terrace duplex at Heritage Court Estate, Port Harcourt.

Others are apartments and plots of land in Lagos State; apartments and plots of land within Abuja metropolis; plots of land and apartments in Anambra, Ebonyi and Gombe states; apartments and plots of land in Kaduna, Delta and Edo states; hotel, plaza and apartments in Kwara State, and apartments and plots of land in Cross River, Osun and Oyo states.

According to the commission, the auction is open to members of the public with the exception of individuals and corporate entities “who have been / or are being prosecuted by the EFCC; Directors of such companies and employees of the EFCC”.

The anti-graft agency also urged prospective participants to visit the EFCC official website to download the bid forms.

“A competitive bidding process is being adopted for the disposal of the properties. The bid forms which can be downloaded from the EFCC website must be submitted alongside 10% of the bid amount in Certified Bank Drafts payable to the Economic and Financial Crimes Commission. If the sum exceeds N10 million, multiple Certified Bank Drafts must be provided; drafts of unsuccessful bidders will be returned once the bidding process is concluded.

“A successful bidder will be required to pay the 90 per cent outstanding balance of the bid price within 15 working days of the bid submission deadline, failing which the 10% deposit becomes non-refundable and the properties can be offered to other buyers. Payments shall be made to EFCC through the Remita platform.

“Individuals occupying any of the properties listed may be given the Right of First Refusal provided they have a valid tenancy agreement; have paid rent up to date and must complete an Expression of Interest (EOI) Form which can be downloaded from the EFCC website.

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“Bids for properties must be sealed and submitted in the designated box at the following address: Economic and Financial Crimes Commission, Plot 301/302 Institutions and Research District, Jabi, Abuja.

“The deadline for the submission of all bids is noon Monday, 9 January 2023

“All bidders and/or their representatives are welcome to be present at the bid opening which will take place at the Convocation Ground, National Open University of Nigeria, opposite Economic and Financial Crimes Headquarters, Jabi, Abuja from Monday, 9 January 2023 to Friday, 13 January 2023.”

The highest bid for each property will emerge as the winner subject to the highest bid being equal to or above the reserve price.

“In the event of a tied bid at the bid opening or where none of the bids matches or exceeds the reserve price, bidders will be required to submit fresh bids at the opening. The outcome of the fresh bid submissions will be announced at the bid opening,” the statement said.