The National Drug Law Enforcement Agency on Monday said it realised N6.15 billion from the auction of four properties seized from convicted drug traffickers and forfeited to the Federal Government through court orders.
The assets, including a six-floor hotel in Victoria Island, Lagos, were sold through a competitive bidding process conducted at the agency’s headquarters in Abuja.
Announcing the results of the auction, the Head of Asset Recovery and Management Unit of the Federal Ministry of Justice, Tamarantare Ali-Bozi, disclosed that four of the eight listed assets attracted successful bids above their reserved prices, while bids for the remaining four properties failed to meet the required valuation.
A statement on Monday by the NDLEA spokesman, Femi Babafemi, stated that Ali-Bozi said Tope Ojo and Tunde Olonishakin Estate Firm emerged the successful bidder for the six-floor hotel in Victoria Island with an offer of N5.9 billion.
He added that FSS Limited won
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