EFCC Conducts The Public Auction Of Over 400 Cars In Lagos (photos).

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EFCC Conducts The Public Auction Of Over 400 Cars In Lagos (photos).

The Economic and Financial Crimes Commission, EFCC, has commenced the auction of 435 cars that were finally forfeited to the Federal government in line with the EFCC (Establishment) Act 2004, Public Procurement Act 2007, and the Proceeds of Crimes (Recovery and Management) Act 2022.

EFCC Conducts The Public Auction Of Over 400 Cars In Lagos (photos).The exercise scheduled to take place across the Commands of the Commission started on Tuesday, December 6, 2022, in Lagos with an inspection of items by members of the public. The auction exercise began today, Wednesday, December 7, and continues on Thursday, December 8, 2022.

EFCC Conducts The Public Auction Of Over 400 Cars In Lagos (photos).The items are available in four locations: 40 Bourdillon Road, Ikoyi, Lagos; 15A Awolowo Road, Ikoyi, Lagos; 14 Cameroon Road, Ikoyi Lagos and CVU Obalende, Ikoyi, Lagos.

EFCC Conducts The Public Auction Of Over 400 Cars In Lagos (photos).Speaking during the opening ceremony yesterday, Dr.George Ekpungu, Secretary to the Commission and Chairman, EFCC Asset Disposal Committee, ADC, said: “the exercise, which is the first of the planned auction of forfeited properties across EFCC Zonal Commands and EFCC Headquarters, is being carried out following the (Establishment) Act, 2004, Public Procurement Act, 2007 and Proceeds of Crimes (Recovery and Management) Act, 2022.

EFCC Conducts The Public Auction Of Over 400 Cars In Lagos (photos).

“It is being conducted in conjunction with the Bureau of Public Procurement to ensure compliance with all extant laws,” he said

 EFCC Conducts The Public Auction Of Over 400 Cars In Lagos (photos).

While welcoming the auctioneers to the Centre, he expressed gratitude to sister agencies, including the Nigerian Army, who were invited to provide adequate security and ensure orderliness. Ekpungu also appealed to the members of the public present at the auction to listen carefully to the auctioneers and comply with all stipulated guidelines.

The nine auctioneers who were allocated to the Lagos Zonal Command of the EFCC to dispose of the 435 cars at the designated Centre on 14 Cameron Road, Ikoyi, Lagos, are Rihanna Auction Limited; Kamyus Consult Limited; Areogun Resources Limited; BIS N JEG; Integrated Services Nig.Ltd;Mau & Sons Ltd.; Langar Aghaji & Co.; Fagobe Company Ltd and Musa Kira and Co.

The cars, which pictures were conspicuously displayed with allocated lot numbers for public inspection, were assigned to auctioneers based on assessed values and an open ballot system. The display allowed interested bidders to view and indicate interest in any car.

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Replies(2)

LagosLast activity 2 months ago

Was this open to the public? and how are they sure the real owners will not come hunting down the new owners

LagosLast activity 2 months ago

You bid and win a car then EFCC starts to investigate your source of funds. Wahala. This is total madness.

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