Not Open To Persons On Trial — EFCC Lists Rules For Forfeited Property Auction

Nigeria's foremost anti-graft agency, the Economic and Financial Crimes Commission (EFCC) has listed the requirements to qualify for participation in its auction of properties across the country, TheCable reports.

On Wednesday, the agency listed the property — located in the federal capital territory (FCT), Lagos, and Rivers states — for auction.

The houses and lands for auction are linked to final forfeiture orders.

In a statement on Thursday, Wilson Uwujaren, spokesperson of the anti-graft agency, said the auction is open to members of the public with the exception of people facing prosecution by the commission.

“The auction is open to members of the public with the exception of individuals/corporate entities who have been/or are being prosecuted by the EFCC; Directors of such companies and employees of the EFCC,” the statement reads.

“A competitive bidding process is being adopted for the disposal of the properties. The Bid Forms, Verifying Affidavit for Individual and Company should be downloaded from the EFCC website (www.efcc.gov.ng) under the MENU: EFCC AUCTION and must be submitted alongside 10% of the bid amount in Certified Bank Drafts payable to Economic and Financial Crimes Commission.

“If the sum exceeds N10 million, multiple Certified Bank Drafts must be provided; drafts of unsuccessful bidders will be returned once the bidding process is concluded.

“A successful bidder will be required to pay the 90% outstanding balance of the bid price within 15 working days of the bid submission deadline, failing which the 10% deposit becomes non-refundable and the properties can be offered to other buyers. Payments shall be made to EFCC through the Remita platform.

“Individuals occupying any of the properties listed may be given the Right of First Refusal provided they have a valid tenancy agreement; have paid rent up to date and complete an Expression of Interest (EOI) Form which can be downloaded from the EFCC website: www.efcc.gov.ng.

“Bids for properties must be sealed and submitted in the designated box at the following address: Economic and Financial Crimes Commission, Plot 301/302 Institutions and Research District, Jabi, Abuja.”

Uwujaren said the deadline for submission of bids is 12pm on January 9, 2023.

The EFCC spokesperson also said the bid opening would take place at the convocation ground of the National Open University of Nigeria (NOUN) in Abuja, between January 9 and 13.

“The highest bid for each property will emerge the winner subject to the highest bid being equal to or above the reserve price,” he said.

“In the event of a tied bid at the bid opening or where none of the bids match or exceed the reserve price, bidders will be required to submit fresh bids at the opening. The outcome of the fresh bid submissions will be announced at the bid opening.”