The National Drug Law Enforcement Agency, NDLEA, has generated a total of N6,148,964,000 from the public auction of a Lagos hotel and three other properties confiscated from convicted drug traffickers and permanently forfeited to the Federal Government through legal proceedings.
A statement signed by the Director of Media and Advocacy, NDLEA Headquarters, Abuja, Femi Babafemi, on Monday said the proceeds emerged from a competitive bidding exercise involving eight forfeited assets linked to drug barons across different parts of the country.
Four properties attracted successful bids above their reserve prices, while bids for the remaining four assets fell short of the benchmark and were therefore unsuccessful.
Speaking during the opening of bids at the NDLEA headquarters in Abuja on Monday, June 15, 2026, the Head of the Asset Recovery and Management Unit at the Federal Ministry of Justice, Tamarantare Francis Ali-Bozi, announced the successful bidders.
He disclosed that Tope Ojo and Tunde Olonishakin Estate Firm secured a six-storey hotel located in Victoria Island, Lagos, with a winning bid of N5.9 billion.
Other successful bidders included FSS Limited, which acquired a property in Lekki Phase 1, Lagos, for N219.5 million; A-BNB Global Innovations Limited, which won a block of flats in Ejigbo, Lagos, with a bid of N104 million; and Fazeen Global Link Limited, which emerged as the highest bidder for a property in Akure, Ondo State, at N29.36 million.
Represented by the Agency Secretary, Shadrach Haruna, NDLEA Chairman and Chief Executive Officer, Brig. Gen. Mohamed Buba Marwa (retd.), said the auction
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