The Economic and Financial Crimes Commission has commenced the auctioning 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 all the commission’s zonal commands, started on Tuesday, in Lagos with an inspection of items by members of the public, while the auction started on Wednesday and will continue on Thursday (today).
In Lagos, 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 on Tuesday, Secretary to the Commission and Chairman, EFCC Asset Disposal Committee, Dr George Ekpungu, 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.
“It is being conducted in conjunction with the Bureau of Public Procurement to ensure compliance with all extant laws.”
Ekpungu appealed to those present at the auction to listen carefully to the auctioneers and comply with all stipulated guidelines.
The cars, which pictures were conspicuously displayed with allocated lot numbers for public inspection, were allocated to auctioneers based on assessed values and an open ballot system.
