Dear EFCC, online auction of forfeited assets is the way to go

BY IDOWU AJANAKU

Permit me to use your medium to reach out to AbdulRasheed Bawa, the chairman of the Economic and Financial Crimes Commission (EFCC), on the sales of forfeited assets by the commission.

First, I would like to commend Mr Bawa and the commission for the good job of ensuring the seizure and forfeiture of assets acquired by corrupt persons, and subsequently auctioning the assets for sale to members of the public.

However, I would like to suggest that the commission adopt the online auction which is the modern approach and global best practice in the disposal of these seized assets as against the outdated physical and sealed option approach.

The e-sourcing approach will not only promote transparency and fairness among Nigerians interested in the purchase of those properties but also ensure that no one is disenfranchised or alienated in the process. This is also in line with the e-procurement/sourcing policy of the Federal Government.

With what transpired during the recent auctions, it has become evident that some individuals are at work to undermine your efforts or commitment to fairness, transparency, and incorruptible practices by imposing this outdated mode of sales on Nigerians.

It is obvious that some unscrupulous individuals are making deliberate attempts to soil the good image of the agency through the disposal of these assets. We, therefore, appeal for your intervention such that the EFCC, under your watch, can adopt the online auction process as a way of guaranteeing a transparent and competitive bidding process among Nigerians. 

Beyond the fact that the process will be more transparent, it also engenders convenience as against the challenges of time constraints and transportation associated with physical auctions.

It is my belief that this mode of sale would make the recovered assets more accessible, thereby promoting inclusivity and impartiality among Nigerians. It will without doubt be devoid of the series of complaints that characterised the last auctions.

I am equally convinced that this approach would not only help advance the cause of integrity and transparency which the agency has been known for but also contribute to generating the highest revenue for the government through the recovered assets.

Now that the world has gone digital, the agency cannot afford to continue to live in the primitive age by choosing to carry out such an important task through the physical gathering. 

Given that Nigeria is the largest economy in Africa and its cities and citizens are daily becoming increasingly technologically advanced, EFCC, as an agency, must begin to implement innovative, technological processes for all its auctions like it was done in the case of vessels.

Let me also state that the recently advertised sealed bid auction by the agency does not sit well with Nigerians as it is most likely going to put the majority at a disadvantage. We believe that, if this is allowed to go on, this may prevent Nigerians from participating in the bidding process, thus making it less competitive and preventing the government from earning the right revenue.

I, therefore, urge you to step in to ensure that the auction process remains transparent and competitive for all Nigerians.

Ajanaku writes from Lagos, and he can be reached at ajanakuidowu09@gmail.com