By Opeyemi Sunday

The Federal Government has auctioned a Lagos hotel and three other properties seized from drug kingpins for the sum of N6.148 billi

The properties were seized through court processes by the National Drug Law Enforcement Agency (NDLEA) and forfeited to the agency.

Director of Media and Advocacy of the agency, Femi Babafemi, who disclosed in a statement on Monday, said: “This was the outcome of a competitive bid process for the sale of eight assets forfeited by drug barons in parts of the country.

“While bidders, who offered above the reserved prices, emerged as winners of four of the listed properties, bids for four others failed because none offered up to the reserved prices.”

At the opening ceremony attended by representatives of ICPC, Civil Society Organisations, auctioneers, and bidders at the NDLEA headquarters in Abuja on Monday, the Head of Asset Recovery and Management Unit of the Federal Ministry of Justice, Tamarantare Ali-Bozi, declared Tope Ojo and Tunde Olonishakin’s estate firm as winner of a six-floor hotel located in Victoria Island, Lagos, with an offer of N5.9 billion.

Other winners include FSS Limited, which won a property at Lekki Phase 1, Lagos, for N219,500,000.00; A-BNB Global Innovations Limited, which bid emerged as the winner of a block of flats located in Ejigbo, Lagos, for N104 million, and Fazeen Global Link Limited, which won a property in Akure, Ondo State, for N29.360million.

In his remarks at the ceremony, Chief Executive Officer of NDLEA, Brig-Gen Mohamed Marwa (retd), represented by the agency Secretary, Shadrach Haruna, noted that “public auctions such as this serve a broader national purpose.

“Beyond generating revenue for the government, they reinforce public confidence in the rule of law, demonstrate accountability in the management of recovered assets, and send a clear message that criminal proceeds will not be allowed to remain in the hands of those who seek to profit from the misery and destruction caused by illicit drugs.

“The agency remains steadfast in its determination to strengthen Nigeria’s asset recovery framework and to ensure that recovered assets are managed and disposed of in a manner that is transparent, lawful, and beneficial to the public interest.

“We shall continue to pursue drug traffickers, dismantle criminal networks, recover the proceeds of crime and uphold the rule of law without fear or favour.