FG Auctions Forfeited Drug Kingpins' Properties for N6.1bn

The Federal Government of Nigeria auctioned properties forfeited from convicted drug traffickers, generating N6.1 billion. The auction, conducted by the National Drug Law Enforcement Agency (NDLEA) at its headquarters in Abuja, involved eight forfeited assets across various locations.

Four properties attracted successful bids above the reserve price, while four others failed to meet the benchmark. The highest bid of N5.9 billion was for a six-floor hotel located in Victoria Island, Lagos, won by estate firm Tope Ojo Tund Olonishakin.

Other successful bidders included FSS Limited for a property in Lekki Phase 1 at N219.5 million, BNB Global Innov Limited for a block of flats in Ejigbo at N104 million, and Fazeen Global Link Limited for a property in Akure, Ondo State, at N29.36 million. Brig Gen Mohammed Buba Marwa, the NDLEA Chairman and Chief Executive Officer, emphasized the agency's commitment to ensuring that proceeds from crime do not remain in criminal hands, reinforcing public confidence in the rule of law.