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

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

EFCC spokesman Wilson Uwujaren said in a statement Wednesday that the commission had announced the start of the auction exercise on Saturday with an advertorial in major newspapers inviting bids for the properties.

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

EFCC Chairman Abdulrasheed Bawa had announced on December 16 that the commission would soon start sales of seized real estate across the country after completing sales of seized cars across the country.

The EFCC had concluded the auction of confiscated vehicles throughout the country. At one of the auction events in Abuja, PREMIUM TIMES watched the process go haywire.

farms for sale

EFCC said parts of the properties to be auctioned consist of 61 luxury apartment units, and land is offered for sale across the country.

The breakdown of the properties is 24 Units of a luxury apartment block on Banana Island, Lagos; 21 luxury terrace units and tower blocks in Thornburn, Yaba, Lagos; and 16 units of four-bedroom terrace maisonettes at Heritage Court Estate, Port Harcourt.

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Others are apartments and land in Lagos State; apartments and land within the Abuja metropolis; land and apartments in Anambra, Ebonyi and Gombe states; apartments and land in the states of Kaduna, Delta and Edo; hotel, plaza and apartments in Kwara state; and apartments and 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 natural and legal persons “who have been/or are being prosecuted by the EFCC; Directors of said companies and employees of the EFCC”.

The anti-corruption agency also urged potential bidders to visit the EFCC’s official website to download the bid forms.

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“A public bidding process is being adopted for the alienation of the properties. Offer forms that can be downloaded from the EFCC website must be presented together with 10% of the amount of the offer in Certified Bills of Exchange in favor of the Economic and Financial Crimes Commission. If the sum exceeds N10 million, several certified bank drafts must be provided; the drafts of the non-winning bidders will be returned once the bidding process has concluded.

“A winning bidder will be required to pay the outstanding balance of 90 percent of the bid price within 15 business days of the bid submission deadline, otherwise the 10 percent deposit becomes non-existent. refundable and the properties can be offered to other buyers. Payments will be made to EFCC through the Remita platform.

“Individuals occupying any of the listed properties may receive the right of first refusal as long as they have a valid lease; 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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“Property offers must be stamped and sent to the designated box at the following address: Economic and Financial Crimes Commission, Plot 301/302 Institutions and Investigation District, Jabi, Abuja.

“The deadline for the submission of all offers is noon on Monday, January 9, 2023.

“All bidders and/or their representatives are invited to be present at the bid opening which will take place at the Bid Venue, National Open University of Nigeria, in front of the Economic and Financial Crime Headquarters, Jabi, Abuja, on Monday January 9, 2023 to Friday. , January 13, 2023.”

The highest bid for each property will win, subject to the highest bid being equal to or greater than the reserve price.

“In the event of a tied bid at the bid opening or if none of the bids equals or exceeds the reserve price, bidders must submit new bids at the bid opening. The result of the new bid submissions will be announced at the opening of bids,” the statement said.

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