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Crime Doesn’t Pay: NDLEA Sells Drug Barons’ Assets for ₦6.1bn
By Our Correspondent
The National Drug Law Enforcement Agency (NDLEA) has auctioned four properties forfeited by convicted drug traffickers for ₦6.
Speaking at the event in Abuja on Monday, NDLEA Chairman, retired Brig.-Gen. Buba Marwa, said the exercise demonstrated the Federal Government’s commitment to ensuring that criminals do not benefit from the proceeds of illegal activities.
Represented by the Agency Secretary, Mr. Shadrach Haruna, Marwa said public auctions of forfeited assets serve a purpose beyond revenue generation.
According to him, such auctions reinforce public confidence in the rule of law, demonstrate accountability in the management of recovered assets, and send a strong message that proceeds from criminal activities will not remain in the hands of those who profit from the devastation caused by illicit drugs.
Marwa reaffirmed the agency’s commitment to strengthening Nigeria’s asset recovery framework and ensuring that recovered assets are managed and disposed of transparently, lawfully, and in the public interest.
He stated that the NDLEA would continue to pursue drug traffickers, dismantle criminal networks, recover proceeds of crime, and uphold the rule of law without fear or favour.
The NDLEA boss emphasized that transparency remained central to the auction process, noting that representatives of sister law enforcement and regulatory agencies, civil society organisations, the media, bidders, and members of the public were invited to witness the exercise.
He explained that bids received for each asset were assessed against approved reserve prices, with the highest responsive bidder meeting all stipulated requirements declared successful.
Marwa added that the entire process was conducted openly, fairly, and transparently in the presence of all stakeholders to strengthen public confidence in the disposal of recovered assets.
He further stated that the auction fully complied with the provisions of the Proceeds of Crime (Recovery and Management) Act, 2022, the Public Procurement Act, 2007, and other relevant laws, regulations, and guidelines.
According to him, all assets offered for sale were professionally valued by the Federal Ministry of Housing and Urban Development, the Federal Government’s designated official valuer.
Marwa also disclosed that the agency conducted extensive due diligence and security screening on all auctioneers pre-qualified by the Bureau of Public Procurement (BPP).
He said the NDLEA was satisfied that none of the auctioneers involved in the exercise had any known connection to drug-related offences or any other criminal activity that could undermine the objectives of the asset recovery programme or compromise the integrity of the auction.
The NDLEA chairman reiterated the agency’s determination to ensure that recovered criminal assets are managed through due process and utilized for the benefit of Nigerians.
The Head of the Asset Recovery and Management Unit of the Federal Ministry of Justice, Mrs. Tamarantare Ali-Bozi, announced the successful bidders after the opening and evaluation of bids for the forfeited properties.
Representatives of the ICPC, civil society organisations, auctioneers, and prospective bidders witnessed the process.
In her remarks, the Director of Proceeds of Crime Management (DPCM), Assistant Commandant General of Narcotics (ACGN) Obiageri Iwuchukwu, described the public auction as transparent, fair, and accountable.
She noted that the exercise was conducted in strict compliance with all relevant laws and regulations, with every participant given a fair opportunity and every stage carefully managed to maintain transparency and public confidence.
Iwuchukwu attributed the success of the auction to effective collaboration among the agency’s directorates, departments, and units, as well as the support of stakeholders involved in the process.
She commended all officers and partners whose dedication contributed to the successful conduct of the exercise.
The News Agency of Nigeria (NAN) reports that the auction was conducted through a competitive bidding process at the NDLEA headquarters in Abuja.
According to NAN, eight assets forfeited to the Federal Government following court orders against drug kingpins were put up for auction.
At the end of the exercise, four properties were successfully sold for a total of ₦6,148,964,000, while bids for the remaining four assets failed to meet approved reserve prices and were therefore unsuccessful.
The most valuable asset sold was a six-floor hotel in Victoria Island, Lagos, which attracted a winning bid of ₦5.9 billion from Tope Ojo and Tunde Olonishakin Estate Firm.
Other successful bidders included FSS Limited, which acquired a property in Lekki Phase 1, Lagos, for ₦219.5 million; A-BNB Global Innovations Limited, which secured a block of flats in Ejigbo, Lagos, with a bid of ₦104 million; and Fazeen Global Link Limited, which purchased a property in Akure, Ondo State, for ₦29.36 million. (NAN).
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