FG begins bidding process to sell off forfeited assets

The federal government has commenced the bidding process for the sale of assets recovered and forfeited to the Economic and Financial Crimes Commission (EFCC).

Abubakar Malami, attorney-general of the federation (AGF) and minister of justice, in November 2020, inaugurated a 22-member inter-ministerial committee for disposal of all forfeited assets.

President Muhammadu Buhari had given a six-month timeframe for the disposal of all federal government assets.

At the opening of the bid on Thursday in Abuja, Aliyu Kiliya,  president of the national association of auctioneers, disclosed that over 2000 auctioneers bided for the sale of the assets.

Kiliya who expressed satisfaction with the manner in which the opening of the bid was conducted, asked the committee to ensure transparency in the process.

He said: “All the procedures for Bureau for Public Prosecution and the stores regulation should be followed to the latter.”

“The committee should do a diligent job not to allow any space for litigation in future as the items involved are very sensitive,” he added.

“Knowledgeable persons should handle the sales which involved items not only in Nigeria but overseas, so as not to put all the efforts in disrepute.”

Dayo Apata, chairman of the committee and permanent secretary of the ministry of justice, said the committee identified the forfeited assets to be sold in 25 locations across the country, except places plagued with violence and insecurity.

He said any estate surveyor or valuer who participated in the valuation of the properties to be sold will not be allowed to bid as they cannot bid for what they have valued and that, members of the committee will not be part of the auctioneers.