NDLEA Generates NOK 6.15 Billion from Auction of Seized Properties
The National Drug Law Enforcement Agency (NDLEA) announced on Monday that it has raised NOK 6.15 billion from the auction of four properties confiscated from convicted drug traffickers. These assets were forfeited to the federal government through court orders.
Competitive Bidding Process at Abuja Headquarters
The auction featured a competitive bidding process held at the NDLEA’s headquarters in Abuja. Among the assets sold was a six-storey hotel located on Victoria Island in Lagos, which attracted significant interest from bidders.
Successful Bidders for Notable Properties
Tamaratale Ali Boj, head of the Asset Recovery and Management Department at the Federal Ministry of Justice, confirmed that four out of the eight properties listed received bids exceeding the reserve price, while the remaining four failed to meet valuation criteria. The hotel was successfully auctioned to Tope Ojo and Tunde Olonishakin Real Estate Company for NOK 5.9 billion.
Additional Sales and Revenue Generation
In addition to the hotel sale, FSS Limited secured a property in Lekki Phase 1, Lagos, for NOK 219.5 million, while A-BNB Global Innovations Limited won an apartment block in Ejigbo for NOK 104 million. Fazeen Global Link Limited also emerged victorious with a bid of NOK 29.36 million for a property in Akure, Ondo State.
Commitment to Transparency and Fairness
Brigadier General Mohamed Buba Marwa (retired), Chairman and Chief Executive Officer of the NDLEA, stated that the disposal of recovered assets serves a dual purpose: it not only generates revenue for the government but also enhances public confidence in the legal system. Marwa emphasized the importance of accountability and conveyed that the agency remains committed to ensuring that the proceeds of crime do not benefit those who contribute to the societal harm caused by illegal drugs.
Public Confidence Reinforced through Oversight
Mr. Marwa, represented by director-general Shadrach Haruna, highlighted the involvement of various stakeholders—including law enforcement officials, civil society organizations, and the media—who were invited to observe the auction process. This level of transparency was aimed at reinforcing public trust in the auction, ensuring that it was conducted fairly and openly.
Conformance with Legal Frameworks
Marwa noted that the entire auction procedure adhered strictly to the Proceeds of Crime (Recovery and Management) Act 2022 and the Public Procurement Act 2007. All properties up for bid underwent professional valuations conducted by the Federal Ministry of Housing and Urban Development. Due diligence and safety inspections of pre-qualified auctioneers were meticulously performed by the Department of Public Procurement to uphold the integrity of the process.
Assurance of Integrity in Auctioneer Selection
The NDLEA has taken extensive measures to confirm that none of the auctioneers involved in this process have any known affiliations with drug-related or criminal activities. This assurance underscores the NDLEA’s commitment to managing recovered assets in a lawful and transparent manner that aligns with the public interest.
