The Economic and Financial Crimes Commission (EFCC) has commenced the auction of a total of 435 cars seized by the anti-graft agency.

The assets are subjects of final forfeiture orders in Lagos, in line with the EFCC (Establishment) Act 2004; Public Procurement Act 2007 and the Proceeds of Crimes (Recovery and Management) Act 2022

The exercise scheduled to take place across the Commands of the Commission, started on Tuesday, December 6, 2022 in Lagos with inspection of items by members of the public, while the auction exercise began on Wednesday, December 7 and continues on Thursday, December 8, 2022.

The items available in four locations: 40, Bourdillon Road, Ikoyi, Lagos; 15A Awolowo Road, Ikoyi, Lagos; 14 Cameroon Road, Ikoyi Lagos and CVU Obalende, Ikoyi, Lagos.

Speaking during the opening ceremony on Wednesday, Dr.George Ekpungu, Secretary to the Commission and Chairman, EFCC Asset Disposal Committee (ADC), expressed gratitude to sister agencies, including the Nigerian Army, who were invited to provide adequate security and ensure orderliness.

Ekpungu also appealed to the members of the public present at the auction to listen carefully to the auctioneers and comply with all stipulated guidelines.

The nine  auctioneers who were allocated to the Lagos Zonal Command of the EFCC to dispose of the 435 cars at designated centre on 14 Cameron Road, Ikoyi, Lagos are Rihanna Auction Limited; Kamyus Consult Limited; Areogun Resources  Limited; BIS N JEG; Integrated Services Nig. Ltd; Mau & Sons Ltd.; Langar Aghaji & Co.; Fagobe Company Ltd and Musa Kira and Co.

The cars, which pictures were conspicuously displayed with allocated lot numbers for public inspection, were allocated to auctioneers based on assessed values and open ballot system.

The display was to provide an opportunity for interested bidders to view and indicate interest in any car of their choice.

The Star