EFCC Begins Auction Of Forfeited Properties, As N13.1bn Bid Fail

The Economic and Financial Crimes Commission (EFCC), on Monday, commenced the auction of about 61 properties seized from individuals as a bid of N13.1 billion failed to meet the requirements.

Addressing the buyers at the National Open University of Nigeria (NOUN), the venue for the auction, the secretary to the EFCC, Mr George Ekpungu said the auction has become necessary in order to sell off the seized properties and for the government to use the funds for the development of the country.

He said some of the properties were seized since the inception of the commission and they are all at good shape.

Ekpungu said for the property to be sold, the bidder must meet the requirements set by the EFCC.

At the first attempt of sale of one of the properties, 24 units of luxury flats located at Banana Island failed as no bidder could meet the requirements stated by the EFCC.

Also, the director of public affairs of the EFCC, Osita Nwajah, said “competitive bidding process is being adopted for the disposal of the properties.

Royalty Fuses With Arts, Culture As Renowned Sculptor Unveils Lion Of Oba Elegushi Magnificent Piece

1 hour ago

Shell Sees $6bn Oil, Gas Investment Opportunity In Nigeria Agency Reports In a move to attract capital to Africa’s top energy producer, President Bola Tinubu met with Shell’s Director of Gas and Upstream Operations, Zoe Yujnovich, on Thursday. The meeting resulted in promising developments for Nigeria’s energy sector, with Shell expressing significant investment interest. President Tinubu’s spokesperson, Ajuri Ngelale, announced in a statement that Shell has identified a potential $5 billion investment opportunity in the offshore Bonga North oil project He added that the company also pledged to invest an additional $1 billion over the next five to 10 years to boost natural gas production for both domestic consumption and exports. “I am really keen to make that investment as soon as possible,” Ngelale cited Yujnovich as saying. “We want to continue and build a pipeline of new investments in Nigeria.” According to Reuters, a Shell spokesperson confirmed the talks with the Nigerian president but declined to provide further details due to the private nature of the discussions. Nigeria’s oil production has been declining for years due to large-scale theft and sabotage. However, recent months have seen a rebound, primarily driven by offshore production, which is less susceptible to attacks. President Tinubu pledged to address “all investment-related issues” hindering capital investment in the Nigerian energy sector. “There is no bottleneck that is too difficult for us to remove in our determined march toward making Nigeria the African haven for large-scale investments,” Tinubu stated. This news marks a positive development for Nigeria’s oil and gas industry. The potential $5 billion investment in the Bonga North oil project could significantly boost production and generate substantial revenue for the country. Additionally, the $1 billion investment in natural gas production will contribute to energy security and potentially unlock export opportunities.

1 hour ago

PICTORIAL: Tinubu Participates In Juma’at Prayer At Abuja City Mosque

2 hours ago

Last Man Standing To Get N3m As Tokyo Nightlife Holds 32-hour 1st Anniversary In Abuja

3 hours ago

He said “a successful bidder will be required to pay the 90 per cent outstanding balance of the bid price within 15 working days of the bid submission deadline, failing which the 10 per cent 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.”

Some of the listed properties for auction include: 24 Units of 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 Plot 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.