Nigerian News

Buyers express outrage over EFCC’s delayed auction of forfeited vehicles

Nigerians have expressed disappointment in the Economic and Financial Crimes Commission (EFCC) for allegedly delaying in fulfilling its promise to auction forfeited vehicles to members of the public.

The EFCC announced days ago that it will commence the physical inspection and auction of 649 forfeited vehicles on Tuesday, December 6, 2022.

However, at the car auction inspections today in Obalende, Lagos state, prospective buyers groaned over being made to wait for long.

A video making the rounds online shows a disgruntled man who intended to buy a vehicle upon commencement of the auction across nine states and the Federal Capital Territory, lamenting about the slow pace of the process.

He said that they were given conflicting information about how to go about purchasing the used vehicles and it led to a long wait at the venue.

A crowd could be seen gathered and complaining about spending the whole day at the car auction inspections without being attended to.

Watch the video below:

Meanwhile, the anti-graft agency in a public notice advertorial said the exercise, which will be held variously and simultaneously across the affected states and the FCT, is scheduled to end with the physical auction in Sokoto and Ilorin, respectively on December 20, 2022.

The Commission disclosed that the auction of vessels and barges would first hold online on December 6 to December 7.

The advertorial reads; “The auction is open to the general public throughout Nigeria for the duration of the bidding period stated above. Asset viewing is free at asset location.

“Prospective bidders will only be granted viewing access to view the lots at the asset location from 8:30 am to 4:30 pm on viewing days.

“The assets will be sold ‘AS IS and WHERE IS’ in their current condition and location. No asset will be sold below its reserve price. A winning bid can only be equal or above the Commission’s reserve price.

“Any person who places the highest bid for an asset will be declared the winner of the asset at the end of the auction. Upon declaration of winning bidder, a 100% payment via Remita, Retrieval Reference (RRR) to be issued by the auctioneer for direct payment to Government TSA. Successful bidder will have a 48 hours window to make full payment.”

It noted that the final forfeiture of the assets to be auctioned is in accordance with the EFCC (Establishment) Act, 2004, Public Procurement Act, 2007 and the Proceeds of Crime (Recovery and Management) Act, 2022.