398 firms bid for valuation of recovered assets

The Federal Government has stated that 398 Estate Surveyors and Valuers have bided for valuation of forfeited assets during the Request for Proposal (RFP).

Dayo Apata, SAN, the Chairman of the Interministerial Committee on Disposal of Forfeited Assets disclosed this on Tuesday, March 2, in Abuja.

Apata, who is also the Permanent Secretary and Solicitor General of the Federation hinted that out of the 398 estate valuers who indicated an interest in the RFP, 355 submitted their bid while six firms were rejected.

He said the bid process was aimed at ensuring transparency and value for money.

“Upon the inauguration of the committee, we decided to have evaluation stages in which all the assets will reflect the market value so that at the end of the day, the government will be selling or disposing of all the assets within the estimated value.

“So what we have done is to get experts in the field, and let them value the forfeited assets in conjunction with the Federal Ministry of Works and Housing to ensure value for money, transparency, and accountability in every asset disposed of.

READ ALSO: FEC approves creation of agency to manage recovered assets

“After this stage, we will go into auctioning stage. We will also have to go for auctioneers who are experts in conjunction with the Federal Ministry of Works and Housing to ensure value for money”.

Ripples Nigeria gathered that the Attorney General of the Federation and Minister of Justice, Abubakar Malami SAN, had inaugurated the interministerial committee on November 9, 2020.

The composition of the 22-man interministerial committee was also approved by President Muhammadu Buhari on Oct. 27, 2020.

The committee was given six months to dispose of all Federal Government forfeited assets.

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