EFCC Begins Public Auction of 435 Cars In Lagos

The Economic and Financial Crimes Commission, EFCC, has begun auction of 435 cars, which are subjects of final forfeiture orders in Lagos, in line with the EFCC (Establishment) Act 2004; Public Procurement Act 2007 and the Proceeds of Crimes (Recovery and Management) Act 2022.

The exercise scheduled to take place across the Commands of the Commission, started on Tuesday, December 6, 2022 in Lagos with inspection of items by members of the public, while the auction exercise began today, Wednesday, December 7 and continues on Thursday, December 8, 2022.

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.

Speaking during the opening ceremony, 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 in accordance with the (Establishment) Act, 2004, Public Procurement Act, 2007 and Proceeds of Crimes (Recovery and Management) Act, 2022.

He added:“It is being conducted in conjunction with the Bureau of Public Procurement to ensure compliance with all extant laws.”

Welcoming the auctioneers to the centre,

Ekpungu expressed his gratitude to sister agencies, including the Nigerian Army, who were invited to provide adequate security and ensure orderliness.

Ekpungu also implored 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 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 allocated to auctioneers based on assessed values and open ballot system.