AUCTION: EFCC releases requirements to prospective buyers of forfeited properties

The Economic and Financial Crimes Commission (EFCC) on Thursday published the requirements to be met by interested buyers of properties subject to forfeiture orders in the country.

The anti-graft commission had on Wednesday released details of the properties situated in Abuja, Lagos, Port Harcourt and other parts of the country.

The agency said the forfeited assets to be auctioned include 122 houses, 18 plots of land, a diesel tanker and a generator.

In a statement issued by its Head of Media and Publicity, Wilson Uwujaren, the commission outlined important conditions to be met by interested bidders.

The statement read: “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.

“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.

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“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.

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

“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.”

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