The National Drug Law Enforcement Agency (NDLEA) has announced the successful auction of a Lagos hotel and three other properties seized from drug kingpins and forfeited to the Federal Government through court processes for a total sum of ₦6,148,964,000.
According to a statement made available to ThelensNG by the NDLEA Director of Media and Advocacy, Femi Babafemi, the auction followed a competitive bid process for the sale of eight assets forfeited by drug barons across the country.
Babafemi explained that while bidders who offered above the reserve prices emerged as winners of four of the listed properties, bids for the remaining four failed because none met the reserve prices.
The bid-opening ceremony was attended by representatives of the Independent Corrupt Practices and Other Related Offences Commission (ICPC), civil society organisations, auctioneers, and bidders at the NDLEA headquarters in Abuja on Monday.
The Head of the Asset Recovery and Management Unit of the Federal Ministry of Justice, Tamarantare Francis Ali-Bozi, declared Tope Ojo and Tunde Olonishakin Estate Firm the winner of a six-floor hotel located in Victoria Island, Lagos, with a bid of ₦5.9 billion.
Other winners include FSS Limited, which won a property in Lekki Phase 1, Lagos, for ₦219.5 million; A-BNB Global Innovations Limited, whose bid emerged as the winning bid for a block of flats located in Ejigbo, Lagos, for ₦104 million; and Fazeen Global Link Limited, which won a property in Akure, Ondo State, for ₦29.36 million.
In his remarks at the ceremony, the Chairman and Chief Executive Officer of NDLEA, Brig. Gen. Mohamed Buba Marwa (rtd.), who was represented by the Agency Secretary, Shadrach Haruna, stated that public auctions such as this serve a broader national purpose.
Marwa stressed that beyond generating revenue for the government, public auctions 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 reiterated the Agency’s commitment to strengthening Nigeria’s asset recovery framework and ensuring that recovered assets are managed and disposed of in a manner that is transparent, lawful, and beneficial to the public interest.
“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.
Speaking on the integrity of the process, the NDLEA boss stated that, to further enhance transparency and public confidence, representatives of sister law enforcement and regulatory agencies, civil society organisations, the media, prospective bidders, and members of the public were invited to witness the bid-opening exercise.
“The bids received for each lot will be evaluated against the approved reserve price, and the highest responsive bidder who satisfies all requisite conditions shall be declared the successful bidder. The entire process will be conducted openly, fairly, and transparently in the presence of all attendees.”
Marwa maintained that the process culminating in the auction was conducted in strict compliance with the provisions of the Proceeds of Crime (Recovery and Management) Act, 2022, the Public Procurement Act, 2007, and all other applicable laws, regulations, and guidelines.
This, he reaffirmed, is consistent with the Agency’s commitment to transparency, accountability, and due process, adding that all assets earmarked for auction were professionally valued by the Federal Ministry of Housing and Urban Development, the designated official valuer of the Federal Government.
He further stated that the Agency undertook extensive due diligence and security screening of all auctioneers pre-qualified by the Bureau of Public Procurement (BPP).
“We are satisfied that none of the auctioneers engaged in this process has any known involvement in drug-related offences or any other criminal activity capable of compromising the objectives of the Proceeds of Crime (Recovery and Management) Act or the integrity of this exercise,” he added.
