The Economic and Financial Crimes Commission, EFCC, says it will pay the Proceeds from sale of forfeited real estate assets by sealed bids, into the Confiscated and Forfeited Properties Account at the Central Bank of Nigeria.
The Secretary to the Commission, Dr. George Ekpungu who announced this at the flag off of the commission’s fresh bids for the properties in Lot 1. comprising 24 units of luxury flats at Banana Island Ikoyi, Lagos, Monday, said the bids will close by 12 p.m on Friday, January 13, 2023 in Abuja.
“In line with Section 69(a) of the Proceeds of Crime ( Recovery and Management) Act, 2023. A bidder who turned in the highest bid of N13.1 billion was disqualified for failure to include the stipulated 10% of the bid amount. Report says.
According to the report, “there were no successful bids in Lots 2 and 3. Consequently, fresh bids were invited until Wednesday, January 11, 2023 and will be opened on Thursday, January 12, 2023.
On the official EFCC Facebook page, Dr. Ekpungu, Secretary of the Commission, who hails from Boki LGA of Cross River State Nigeria, South-South region, warned former owners of the forfeited properties not to make attempt to repurchase the assets by proxy.
“If you have information about any bid by owners of the assets, please let the Commission know, and we will take appropriate action, including possible prosecution, “he said.
The secretary disclosed that occupants of the properties for sale have the Right of First Refusal, explaining that the Commission adopted the format of competitive bidding to ensure accountability, that the government gets the right value for the assets.
Ekpungu, the past Commissioner for New City Development in Cross River State who resumed office in October 2021, commended the EFCC Chairman, Abdulrasheed Bawa for ensuring that those who have stolen the wealth of the country were denied the proceeds of crime.
The bids opening flagged off for the Sale of Forfeited Real Estate Assets at the National Open University, Jabi, Abuja and featured Director Public Affairs of the Commission, Mr. Osita Nwajah, who read out the guidelines for the sale.
He said the guidelines forbid staff of the Commission and persons who have or are being prosecuted in respect of the assets from participating in the process.
Nwajah said before any bid can be successful, each bidder is expected to enclose a bank draft for 10% of the bid amount.
According to him, successful bidders have fifteen working days from the bid opening to make full payment. Otherwise, the second highest bidder would be offered the asset.
He said the assets are grouped into nine lots with today’s sale restricted to lots 1, 2 and 3. Announcing that the sale of properties in the other lots will continue until the final lot is disposed on Friday, December 13, 2023.
“The commencement of bids for over a hundred forfeited properties in cities across Nigeria was announced by the Commission on December 24, 2022 in paid advertorial published in five of the major newspapers in the country. The commission said.
