EFCC Set to Sell Off 891 Forfeited Vehicles Through E-Auction, Specifies Guidelines

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The Economic and Financial Crimes Commission, (EFCC) has announced the sales of 891 forfeited vehicles through e-auction. The sales, according to the EFCC in a post on X, takes place January 27, 2025, between 11 am and 4 pm nationwide, while the vehicles would be available for viewing free from January 20 on the listed websites of the appointed auctioneers.

The EFCC said the assets available for auction would not be sold below the reserve price, and a winning bid can only be equal to or above the commission’s price. It emphasised that the vehicles would be sold “AS IS” and “WHERE IS” in their current condition and location.

Bidders who place the highest bid for forfeited assets will be declared the winning bidder of the asset at the end of the auction, said the EFCC.

Successful bidders have a 72-hour window to make full payment via Remita Retrieval Reference (RRR), while a 7.5% VAT would be added to the final price, payable to the Government TSA.

In a notice published on its social media handles, the EFCC said the vehicles had been forfeited in line with the EFCC (Establishment) Act, 2004, Public Procurement Act, 2007 and the Proceeds of Crime (Recovery & Management) Act, 2022.

The anti-graft agency listed the auctioneers for the sale of the forfeited cars.
Interested parties have been directed to the following websites: www.rihogo.com, https://biznjeg.ng, www.areogunresourcesniglid.com.ng.