The National Drug Law Enforcement Agency (NDLEA) has generated N6.15 billion from the public auction of properties confiscated from convicted drug traffickers, reinforcing the Federal Government’s commitment to ensuring criminals do not benefit from illegal activities.
The auction took place on Monday at the NDLEA headquarters in Abuja, where officials opened and evaluated bids for assets that had been legally forfeited to the Federal Government following court rulings against drug offenders.
A total of eight properties were listed for sale during the exercise. However, only four properties were successfully sold because they met the approved reserve prices. The remaining four assets did not attract bids that satisfied the required benchmarks and were therefore withdrawn from the auction.
The most valuable property sold was a six-storey hotel located in Victoria Island, Lagos. The hotel attracted a winning bid of N5.9 billion, making it the largest sale of the auction. The successful bid was submitted by Tope Ojo and Tunde Olonishakin Estate Firm.
Other properties sold included a residential property in Lekki Phase 1, Lagos, purchased by FSS Limited for N219.5 million. A block of flats located in Ejigbo, Lagos, was acquired by A-BNB Global Innovations Limited for N104 million, while Fazeen Global Link Limited purchased a property in Akure, Ondo State, for N29.36 million.
Speaking during the auction, NDLEA Chairman, retired Brigadier General Buba Marwa, said the exercise demonstrates the government’s determination to strip criminals of wealth acquired through illegal drug activities.
Represented by the Agency Secretary, Mr. Shadrach Haruna, Marwa explained that public auctions of seized assets serve purposes beyond generating revenue for the government.
According to him, the process strengthens public trust in the rule of law, promotes transparency in the management of recovered assets, and sends a strong message that proceeds from criminal activities will not remain in the hands of offenders.
He stressed that individuals who profit from the illegal drug trade contribute to social harm and destruction, and that the government remains committed to ensuring such assets are recovered and put to lawful use.
Marwa further assured the public that the NDLEA would continue to strengthen Nigeria’s asset recovery system. He noted that all recovered properties would be managed and disposed of in accordance with the law and in the best interest of the public.
He added that all bids received during the auction were carefully assessed against approved reserve prices, with the highest qualified bidders emerging successful. The process, he said, fully complied with the Proceeds of Crime (Recovery and Management) Act 2022, the Public Procurement Act 2007, and other relevant regulations.
Providing additional details, the Director of Proceeds of Crime Management, Assistant Commandant General of Narcotics Obiageri Iwuchukwu, described the exercise as transparent, fair, and accountable. She said every participant was given an equal opportunity to compete and that all stages of the process were carefully supervised to maintain public confidence.
Representatives from the Independent Corrupt Practices and Other Related Offences Commission (ICPC), civil society organisations, auctioneers, and prospective bidders witnessed the exercise.
The auction comes amid intensified NDLEA operations nationwide. In recent months, the agency has carried out major drug seizures worth billions of naira, arrested suspected traffickers, and dismantled several drug distribution networks. Through these actions, the NDLEA aims not only to stop drug trafficking but also to deprive criminal groups of the assets and wealth obtained from the illegal trade.
