EFCC auctions 435 forfeited cars

The Economic and Financial Crimes Commission (EFCC) on Wednesday in Lagos began auctioning off 435 automobiles that the courts had forfeited to the Federal Government.

The EFCC confiscated 435 vehicles in Lagos, and nine auctioneers were assigned to sell them at the designated Centre located at 14 Cameron Road, Ikoyi, Lagos.

Some of these auctioneers include Rihanna Auction Limited, Kamyus Consult Limited, Areogun Resources Limited, BIS N JEG, and Integrated Services Nig.Ltd, Mau & Sons Limited, Langar Aghaji & Co., Fagobe Company Ltd, Musa Kira & Co., and Musa Kira & Co.

Auctioneers were selected based on assessed values and an open ballot system, with images of the vehicles and their assigned lot numbers prominently displayed for public inspection.

Cars were displayed so potential buyers could look at them all and place bids on the ones they liked best.

According to a statement released by the agency’s Head of Media and Publicity, Mr Wilson Uwujaren, the action was taken to comply with the EFCC (Establishment) Act of 2004, the Public Procurement Act of 2007, and the Proceeds of Crime (Recovery and Management) Act of 2022.

In Lagos, the exercise kicked off on December 6, 2022, with a public inspection of items. It was planned to occur in all of the Commission’s Commands across the country.

Officially, the auction process started on Wednesday and will last until Thursday.

They can be purchased at 40 Bourdillon Road; 15A Awolowo Road; 14 Cameron Road; and CVU Obalende; all of which are in Ikoyi, Lagos.

“This exercise, which is the first of the planned auction of forfeited properties across EFCC Zonal Commands and EFCC Headquarters, is being carried out per the (Establishment) Act, 2004, the Public Procurement Act, 2007, and the Proceeds of Crimes (Recovery and Management) Act, 2022,” Dr George Ekpungu, Secretary to the Commission and Chairman, EFCC Asset Disposal Committee, ADC, said during Tuesday’s opening ceremony.

“It is being conducted with the Bureau of Public Procurement to ensure compliance with all extant laws”.

He thanked the Nigerian Army and other sister agencies for helping keep things under control and secure while he welcomed the auctioneers to the Centre.

Ekpungu urged the auction’s spectators to pay close attention to the auctioneers and follow all rules and regulations.