Friday, April 12, 2024

 

N13.1bn Bid For Forfeited Banana Island Property Fails – EFCC

Must Read

Court Remands Godwin Emefiele In EFCC Custody

Justice Rahman Oshodi of the Special Offences Court in Ikeja has remanded the embattled former Central Bank of Nigeria,...

Edo Assembly Impeaches Deputy Gov Shaibu

Comrade Philip Shaibu The Edo State House of Assembly, on Monday, impeached the state’s Deputy governor, Comrade Philip Shaibu. The...

Banks, Breweries, Foreign Companies Set To Storm 13th Gateway International Trade Fair

Foreign companies from across West Africa have indicated interest in participating at this year's Gateway International Trade Fair billed...

 

N13.1bn Bid For Forfeited Banana Island Property Fails – EFCC

There was no successful bid today as a N13.1billion bid for 24 units of luxury flats at Banana Island, Ikoyi, Lagos, failed during the opening of bids for forfeited properties by the Economic and Financial Crimes Commission, on Monday, January 9, 2023, in Abuja.
In a statement obtained by our correspondent, the commission said it commenced the sale of forfeited real estate assets by sealed bids, to the highest bidders on Monday.

It said, “At today’s session, there was no successful bid for the properties in Lot 1 comprising 24 units of luxury flats at Banana Island, Ikoyi, Lagos, which was expected to be sold as a single unit.

“A bidder who turned in the highest bid of N13.1 billion was disqualified for failure to include the stipulated 10 per cent of the bid amount. Other bidders did not make the reserve price.

Consequently, Secretary to the commission, Dr George Ekpungu announced the commission will open fresh bids for the properties in Lot 1.

The bids will close by 12 pm on Friday, January 13, 2023, while the bid opening will be done the same day.

“Also, there were no successful bids in Lots 2 and 3. Fresh bids were invited until Wednesday, January 11, 2023, and the bids will be opened on Thursday, January 12, 2023.”

Speaking earlier while declaring the exercise open, Dr. Ekpungu had explained that the commission adopted the format of competitive bidding to ensure accountability and that the government gets the right value for the assets.

He further disclosed that occupants of the properties for sale have the Right of First Refusal even as he vowed that the Commission will ensure that former owners of the forfeited properties do not attempt to repurchase the assets by proxy.

“If you have information about any bid by owners of the assets, please let the Commission know, and we will take appropriate action, including possible prosecution,” he said.

He further commended the EFCC Chairman, Abdulrasheed Bawa for taking the bull by the horn in ensuring that those who have stolen the wealth of the country were denied the proceeds of crime and the assets disposed of for the benefit of all Nigerians.

Director, Public Affairs, EFCC, Mr Osita Nwajah, read out the guidelines for the sale which among others, forbids staff of the commission and persons who have or are being prosecuted in respect of the assets from participating in the process.

He also disclosed that before any bid can be successful, it must be equal to or be above the reserve price, while each bidder was expected to enclose a bank draft for 10% of the bid amount.

He said successful bidders have fifteen working days from the bid opening to make full payment. Otherwise, the second highest bidder would be offered the asset.

The assets are grouped into nine lots with today’s sale restricted to lots 1, 2 and 3. The sale of properties in the other lots will continue until the final lot is disposed of on Friday, December 13, 2023.

Proceeds from the sale of the assets will be paid into the Confiscated and Forfeited Properties Account at the Central Bank of Nigeria in line with Section 69(a) of the Proceeds of Crime ( Recovery and Management) Act, 2023.

The Commission had on December 24, 2022, in a paid advertorial published in five of the major newspapers in the country, announced the commencement of bids for over a hundred forfeited properties in cities across Nigeria.

The bids were expected to close at 12pm on Monday, January 9, while the bid opening starts at 2 pm same day at the National Open University, Jabi, Abuja.

Today’s exercise was witnessed by representatives of the civil society including the Reverend David Ugolor, Executive Director, Africa Network for Environment and Economic Justice, who commended the EFCC for a transparent process, but urged the commission to ensure the guidelines are communicated to the public for the benefit of cynics who might be inclined to fault the process.

- Advertisement -

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisement -
Latest News

Court Remands Godwin Emefiele In EFCC Custody

Justice Rahman Oshodi of the Special Offences Court in Ikeja has remanded the embattled former Central Bank of Nigeria,...

Edo Assembly Impeaches Deputy Gov Shaibu

Comrade Philip Shaibu The Edo State House of Assembly, on Monday, impeached the state’s Deputy governor, Comrade Philip Shaibu. The impeachment followed the adoption of...

Banks, Breweries, Foreign Companies Set To Storm 13th Gateway International Trade Fair

Foreign companies from across West Africa have indicated interest in participating at this year's Gateway International Trade Fair billed to take place between April...

Ogun To Conduct Multidimensional Human Development Index Survey

The Ogun State Government is to conduct household surveys to develop a framework that will assist in planning, management, and evaluation of the multi-dimensional...

Lagos Deputy Commissioner Of Police Reportedly Takes Own Life

Late DCP Gbolahan Olugbemi A Deputy Commissioner of Police in Lagos, Gbolahan Olugbemi, has reportedly taken his life in Ogbomoso, Oyo State. Olugbemi, who was of...
- Advertisement -

More Articles Like This

- Advertisement -