NDLEA auctions forfeited Lagos hotel, other properties for N6.15 billion

The National Drug Law Enforcement Agency (NDLEA) has auctioned a six-storey resort in Lagos and three other properties confiscated from convicted drug traffickers for a complete of N6.15 billion, in what the company described as an illustration that proceeds of illicit drug commerce wouldn’t stay within the fingers of criminals.

In line with a press release issued on Monday by the NDLEA spokesperson, Femi Babafemi, the belongings, positioned in Lagos and Ondo states, have been amongst eight properties forfeited to the federal authorities following court docket orders obtained below Nigeria’s asset restoration legal guidelines.

Mr Babafemi mentioned officers introduced profitable bids for 5 properties at a public bid-opening ceremony held on the company’s headquarters in Abuja on Monday whereas three others failed to draw gives that met their reserve costs.

He mentioned the public sale generated N6.153 billion, with a six-floor resort in Victoria Island, Lagos, accounting for the majority of the proceeds after it attracted a successful bid of N5.9 billion.

“Saying the successful bids on the bid opening ceremony attended by representatives of ICPC, Civil Society Organisations, auctioneers and bidders on the NDLEA headquarters in Abuja on Monday, fifteenth June 2026, the Head of Asset Restoration and Administration Unit of the Federal Ministry of Justice, Tamarantare Francis Ali-Bozi, declared Tope Ojo and Tunde Olonishakin property agency as winner of a six-floor resort positioned in Victoria Island Lagos with N5.9 billion provide.

“Other winners embody FSS Restricted which gained a property at Lekki Part 1 Lagos for N219,500,000.00; A-BNB International Improvements Restricted which bid emerged winner of a block of flats positioned in Ejigbo Lagos for N104 million; Fazeen International Hyperlink Restricted which gained a property in Akure, Ondo state for N29,360,000.00 and Tresmo Nigeria Restricted topped the bids for a property at Ijesha/Itire, Lagos with N4.3 million,” the assertion learn.

Drug cartels gained’t get pleasure from proceeds of crime -Marwa

Talking on the occasion, NDLEA Chairman and Chief Govt Officer of NDLEA, Mohamed Marwa, mentioned the public sale was a part of broader efforts to deprive drug traffickers of the monetary advantages of their crimes.

Mr Marwa, a retired brigadier-general represented by the company’s secretary, Shadrach Haruna, mentioned public disposal of recovered belongings serves functions past income technology.

He mentioned the train was designed to strengthen public confidence within the rule of legislation and exhibit accountability within the administration of confiscated belongings.

“Public auctions reminiscent of this serve a broader nationwide function. Past producing income for the federal government, they reinforce public confidence within the rule of legislation, exhibit accountability within the administration of recovered belongings, and ship a transparent message that legal proceeds won’t be allowed to stay within the fingers of those that search to revenue from the distress and destruction attributable to illicit medicine,” Mr Marwa mentioned.

He added that the company would proceed concentrating on drug trafficking networks and tracing belongings acquired by way of unlawful drug actions.

“We will proceed to pursue drug traffickers, dismantle legal networks, get better the proceeds of crime and uphold the rule of legislation with out concern or favour,” he mentioned.

Company defends transparency of public sale course of

The NDLEA additionally sought to reassure stakeholders concerning the integrity of the public sale, saying the method complied with related legal guidelines governing asset restoration and public procurement.

Mr Marwa mentioned representatives of anti-corruption businesses, civil society organisations, auctioneers, bidders and members of the general public have been invited to watch the train to make sure transparency.

READ ALSO: NDLEA arrests 63-year-old Chinese national, seizes N2.19bn opiod consignment in separate operation

In line with him, all of the belongings have been professionally valued by the Federal Ministry of Housing and City Improvement earlier than being listed for sale.

He additionally mentioned the company carried out background checks on auctioneers pre-qualified by the Bureau of Public Procurement (BPP) to make sure none had hyperlinks to legal actions.

“The whole course of can be carried out brazenly, pretty and transparently,” he mentioned, including that profitable bids have been subjected to analysis towards authorized reserve costs earlier than winners have been introduced.

Background

The public sale kinds a part of the federal authorities’s implementation of the Proceeds of Crime (Restoration and Administration) Act, 2022, which gives a authorized framework for the restoration, administration and disposal of belongings linked to legal actions.

Lately, Nigerian anti-narcotics and anti-corruption businesses have more and more relied on asset forfeiture proceedings to focus on the monetary buildings that maintain organised crime. The method goals not solely to punish offenders but in addition to strip legal networks of sources that could possibly be used to fund additional unlawful actions.

The NDLEA has repeatedly argued that confiscating and disposing of belongings acquired by way of drug trafficking is an integral part of its technique to disrupt drug cartels and deter future offenders.