EFCC Commences Nationwide Auction With 435 Forfeited Cars In Lagos

The Economic and Financial Crimes Commission (EFCC) commenced a nationwide auction of 435 forfeited cars by courts to the Federal Government on Wednesday in Lagos State.

CityNews gathered the 435 cars at the designated Centre on 14 Cameron Road, Ikoyi, Lagos, which were allocated to nine auctioneers by the Lagos Zonal Command of the EFCC to dispose of.

The agency in a statement issued by the commission’s Head, Media & Publicity, Wilson Uwujaren, said the act was in line with the EFCC (Establishment) Act 2004; Public Procurement Act 2007, and the Proceeds of Crimes (Recovery and Management) Act 2022.

According to the agency, the exercise is slated to take place across the Commands of the commission across the country, but it started on Tuesday, in Lagos with an inspection of items by members of the public.

A line up of cars to be auctioned

The cars were said to have been displayed for interested bidders to view and indicate interest in any car of their choice.

The nine auctioneers were allocated cars based on assessed values and an open ballot system.

They are Rihanna Auction Limited, Kamyus Consult Limited, Areogun Resources Limited, BIS N JEG, Integrated Services Nig.Ltd, Mau & Sons Ltd., Langar Aghaji & Co., Fagobe Company Ltd and Musa Kira and Co.

The auction exercise proper began Wednesday and continues till Thursday.

The items are available in four locations: 40, Bourdillon Road, Ikoyi, Lagos; 15A Awolowo Road, Ikoyi, Lagos; 14 Cameron Road, Ikoyi Lagos and CVU Obalende, Ikoyi, Lagos.

Members of the general public at the auction

Hitherto to that, the Secretary to the Commission and Chairman, of the EFCC Asset Disposal Committee (ADC) Dr George Ekpungu, confirmed that “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”.