National Drug Law Enforcement Agency (NDLEA) has auctioned five forfeited properties linked to convicted drug traffickers for N6.15 billion, reaffirming its commitment to depriving criminal networks of proceeds derived from illicit drug activities.
The agency disclosed this in a statement issued on Monday by its Director of Media and Advocacy, Mr Femi Babafemi.
According to the statement, the properties, located in Lagos and Ondo states, were among eight assets forfeited to the Federal Government following court orders obtained under relevant asset recovery laws.
Babafemi said successful bids were announced at a public bid-opening ceremony held at the NDLEA headquarters in Abuja.
He said the exercise generated N6.153 billion, with a six-storey hotel located in Victoria Island, Lagos, attracting the highest bid of N5.9 billion.
According to him, Tope Ojo and Tunde Olonishakin Estate Firm emerged the successful bidder for the hotel property.
Other successful bidders included FSS Limited, which acquired a property in Lekki Phase 1, Lagos, for N219.5 million, and A-BNB Global Innovations Limited, which secured a block of flats in Ejigbo, Lagos, for N104 million.
Also, Fazeen Global Link Limited won a property in Akure, Ondo State, with a bid of N29.36 million, while Tresmo Nigeria Limited emerged the highest bidder for a property in the Ijesha/Itire area of Lagos with an offer of N4.3 million.
The agency noted that three of the eight properties offered for auction did not receive bids that met their reserve prices.
Speaking at the event, the Chairman and Chief Executive Officer of NDLEA, retired Brig.-Gen. Mohamed Marwa, said the disposal of confiscated assets was an important aspect of efforts to dismantle drug trafficking networks.
Represented by the Secretary of the agency, Mr Shadrach Haruna, Marwa said public auctions served purposes beyond revenue generation.
“Public auctions such as this serve a broader national purpose. Beyond generating revenue for the government, they reinforce public confidence in the rule of law, demonstrate accountability in the management of recovered assets and send a clear message that criminal proceeds will not be allowed to remain in the hands of those who seek to profit from the misery and destruction caused by illicit drugs,” he said.
Marwa reiterated the agency’s resolve to continue targeting drug traffickers and recovering assets acquired through illegal activities.
“We shall continue to pursue drug traffickers, dismantle criminal networks, recover the proceeds of crime and uphold the rule of law without fear or favour,” he said.
The NDLEA said the auction process complied with relevant provisions of the law governing asset recovery and disposal.
According to the agency, representatives of anti-corruption bodies, civil society organisations, auctioneers, bidders and members of the public were present at the exercise to ensure transparency and accountability.
Marwa said all the properties were professionally valued by the Federal Ministry of Housing and Urban Development before being listed for sale.
He added that background checks were conducted on auctioneers pre-qualified by the Bureau of Public Procurement (BPP) to ensure the integrity of the process.
The auction was conducted under the framework of the Proceeds of Crime (Recovery and Management) Act, 2022, which provides for the recovery, management and disposal of assets linked to criminal activities.
