The National Drug Law Enforcement Agency on Tuesday said it conducted a public auction of properties forfeited by convicted drug traffickers.
Held at the agency’s national headquarters in Abuja, the NDLEA said six properties across Lagos, Kano, Ondo, and Ogun states were auctioned.
A statement by the agency’s spokesman, Femi Babafemi, said the assets were either acquired through drug proceeds or used in the commission of drug-related crimes.
He said the NDLEA Chairman/Chief Executive, Brig. Gen. Mohamed Buba Marwa (retd.), represented by the Agency Secretary, Mr. Shadrack Haruna, said the move is part of a broader strategy to weaken criminal enterprises by stripping traffickers of their liberty and illicit wealth.
“This auction is part of our broader commitment to transparency and justice “Beyond prosecuting drug offenders, we are committed to ensuring that the financial incentives that drive these crimes are neutralized through legal forfeiture. This serves as both punishment and deterrence,” Marwa was quoted as saying.
He said of the eight properties originally slated for auction, two located in the Lekki and Ikorodu areas of Lagos were stepped down due to notices of appeal.
Marwa added that the remaining six properties were auctioned to pre-qualified bidders, with only two sold above their reserve prices, fetching over N139 million. Other properties either received no bids or failed to meet the reserve benchmarks.
“The auction involved forfeited eight properties across Lagos, Kano, Ondo, and Ogun. Two of the houses located in Lekki and Ikorodu areas of Lagos were stepped down from the process due to notices of appeal received after the processes had begun. Six other properties were auctioned to pre-qualified bidders, with only two sold at over N139 million following successful bids above their reserved prices. Others either failed to receive any bids or attracted offers below the benchmark, ” he said.
Umar Yakubu, of the Centre for Transparency and Integrity Watch, praised the NDLEA for what he described as an open and credible process.
He said, “The level of transparency observed was commendable and reflective of a strong institutional culture that prioritises public accountability,” he said, urging the agency to continue using such exercises as public awareness tools.
The Director of Proceeds of Crime Management at the NDLEA, Jerry Aernan, explained that all participating auctioneers were pre-qualified by the Bureau of Public Procurement and passed integrity checks to prevent illicit reacquisition.
He added that successful bidders are required to pay 10 per cent of the bid value within 14 days, with full payment expected within the stipulated timeframe.
