Sale of Forfeited Real Estate: EFCC Records 26 Successful Bids on Day 3

Twenty-Six bidders on Wednesday, January 11, 2023, emerged winners of different properties on the third day of the ongoing sale of forfeited real estate comprising apartments and plots of land by the Economic and Financial Crimes Commission, EFCC, in Abuja.

At the session, a total of 39 properties in Lot 5, located in different parts of the Federal Capital Territory, were offered for sale through a competitive bidding process. The exercise which commenced at 10am continued until 8.30pm.

At the end of the exercise, a total of 26 bids were successful, while 13 properties not taken either for non-compliance with the guidelines or the highest bid falling short of the reserve price, or due to a tie as was the case in respect of the property listed as number 33 in the Lot, were re-opened to fresh bids until Monday, 16 January 2023 ...when the bids will be opened. Other properties affected by this fresh bid offer are listed as numbers: 1, 3, 4,5,6,10,15, 18,29,30,31 and 34 in Lot 5.

The Executive Chairman, EFCC, Abdulrasheed Bawa who witnessed the exercise, expressed excitement at the well-organized and coordinated event, thanking the bidders for their cooperation.

“The process we are adopting is what is practiced across the world. We had Valuers who valued the properties and we already know the worth of each property and we expect to sell to the highest bidder who exceeds our reserve price because we need to raise money for the Federal Government to execute and complete some of the major infrastructure projects across the country.

We got feedback from people who are asking why we are not doing it online so that more people can participate. We have tried all of that and it is now left for us to use discretion to work with methods that will help the process to be more transparent for every Nigerian to see,” he said.

One of the bid winners, Chetanna Chukwudo commended the Commission for a job well done and urged it to keep up with the good work as Nigerians expect a lot from her.

“I am happy today because it feels good to be a winner, nobody wants to lose. The process was thorough and transparent but in the end we won. I want to say well done to the organizers,“ he said.

One would recall that six successful bids were recorded on day two of sale of forfeited real estate assets by EFCC on Tuesday, January 10, 2023, of different properties as the sale of forfeited real estate.

The distribution of the properties are: 24 Units of luxurious block of flats at Banana Island, Lagos; 21 Units of Luxury Terrace and Block of Flats at Thornburn, Yaba, Lagos; 16 Units of 4 Bedrooms Terrace Duplex at Heritage Court Estate, Port Harcourt; 

Others are Apartments and Plots of Land in Lagos State; Apartments and Plots of Land within Abuja Metropolis; Plots of land and Apartment in Anambra, Ebonyi and Gombe States; Apartments and Plot of Land in Kaduna, Delta and Edo States; Hotel, Plaza and Apartments in Kwara State and Apartments and Plots of land in Cross River, Osun and Oyo States.

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