The National Drug Law Enforcement Agency (NDLEA) on Monday announced that it has generated N6.15 billion from the auction of four properties seized from convicted drug traffickers and forfeited to the Federal Government.
Among the assets sold was a six-floor hotel in Victoria Island, Lagos, which went for N5.9 billion to Tope Ojo and Tunde Olonishakin Estate Firm. The auction, conducted through competitive bidding at the agency’s headquarters in Abuja, also saw FSS Limited acquire a property in Lekki Phase 1 for N219.5 million, while A-BNB Global Innovations Limited secured a block of flats in Ejigbo for N104 million. Fazeen Global Link Limited won a property in Akure, Ondo State, with a bid of N29.36 million.
Head of the Asset Recovery and Management Unit at the Federal Ministry of Justice, Tamarantare Ali-Bozi, disclosed that four of the eight listed assets attracted bids above their reserved prices, while the remaining four failed to meet valuation requirements.
NDLEA Chairman, Brig. Gen. Mohamed Buba Marwa (retd.), represented by the agency’s Secretary, Shadrach Haruna, said the disposal of recovered assets was not only about revenue generation but also about reinforcing public trust in the rule of law.
“Public auctions such as this serve a broader national purpose. They demonstrate accountability in the management of recovered assets and send a clear message that criminal proceeds will not remain in the hands of those who profit from illicit drugs,” Marwa stated.
He assured that the NDLEA would continue to strengthen Nigeria’s asset recovery framework and ensure transparency in future disposals.
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