EFCC Unveils Guidelines for Sale of Forfeited Luxury Apartments, Others in Lagos, Abuja

December 28, 2022
forfeited luxury apartments

By Modupe Gbadeyanka

Nigerians interested in purchasing any of the forfeited properties to be auctioned by the Economic and Financial Crimes Commission (EFCC) have been given some steps to actualise this.

In a statement on Wednesday, the commission said the forfeited luxury apartments are located in Lagos, Abuja, and others, with bids accepted till 12:00 noon on Monday, January 9, 2023.

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, which can be downloaded from the EFCC website, must be submitted alongside 10 per cent of the bid amount in Certified Bank Drafts payable to EFCC.

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 must complete an Expression of Interest (EOI) Form, which can be downloaded from the EFCC website.

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.

All bidders and their representatives are welcome to be present at the bid opening, which will take place at the Convocation Ground, the National Open University of Nigeria, opposite Economic and Financial Crimes Headquarters, Jabi, Abuja, from Monday, January 9, 2023, to Friday, January 13, 2023.

The highest bid for each property will emerge as 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 matches or exceeds 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.

Business Post gathered that the properties for sale include 61 units of luxury apartments, plots of land and apartments across the country. They are being offered for sale in accordance with the Economic and Financial Crimes Commission (Establishment) Act, 2004, the Public Procurement Act, 2007 and the Proceeds of Crime (Recovery and Management) Act, 2022.

They are 24 units of a 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 plots 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.

Modupe Gbadeyanka

Modupe Gbadeyanka is a fast-rising journalist with Business Post Nigeria. Her passion for journalism is amazing. She is willing to learn more with a view to becoming one of the best pen-pushers in Nigeria. Her role models are the duo of CNN's Richard Quest and Christiane Amanpour.

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