2,000 Auctioneers Bid To Sell Forfeited Assets

Eko Atlantic City (EAC) Project, South EnergyX

Inter-Ministerial Committee on the Disposal of Forfeited Assets to the federal government has said about 2,000 auctioneers have submitted bids for the sales of the assets.

The chairman of the sub-committee on the sales of the forfeited assets, Engr. Bello Nasir, disclosed this during the opening of bids for the engagement of auctioneers for the disposal of the assets forfeited to the federal government.

Before opening the bids, the chairman of the Inter-ministerial Committee and permanent secretary of the Ministry of Justice, Dayo Apata (SAN), said the committee identified the forfeited assets to be sold in 25 locations across the country, except places plagued with violence and insecurity.

He said, “Estate surveyors and valuers had inspected the forfeited assets in order to ensure that the assets are sold at market value, in line with international best practice.”

Apata said the bid opening followed an advertisement placed on May 10. 2021 for auctioneers to show interest and assured the public of transparency in the exercise, even as he added that the criteria set out by the committee will be strictly followed in the selection of the auctioneers.

He said any estate surveyor or valuer who participated in the valuation of the properties to be sold will not be allowed to bid as they cannot bid for what they have valued and that members of the committee will not be part of the auctioneers.

The submission of the bid formally closed at 12 noon Thursday and the process of bidding commenced immediately with the chairman of the sub-committee, Bello Nasir, from the Bureau of Public Procurement (BPP) identifying bidders based on their lot.

It would be recalled that the Attorney General of the Federation (AGF) and Minister of Justice, Abubakar Malami (SAN), inaugurated the Dayo Apata-led Inter-Ministerial Committee on November 19 last year.

Malami, while inaugurating the committee said that the initiative was borne out of the president’s directive in October 2018 following recommendations of the Presidential Audit Committee on Recovery and Management of Stolen Assets and a need for efficient management of the assets.


Disclaimer: The Post 2,000 Auctioneers Bid To Sell Forfeited Assets was first Published by Kunle Olasanmion

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