EFCC Launches e-Auction for Forfeited Vehicles: How to Participate

The Economic and Financial Crimes Commission (EFCC) has announced an upcoming e-Auction of 891 forfeited vehicles, allowing the public to bid for various items online. The auction, scheduled to begin on Monday, January 27, 2025, will be conducted via an official platform, providing transparency and accessibility to all eligible participants.

According to a public notice on their official X (formerly Twitter) account, the auction will be conducted by appointed auctioneers. This initiative is part of the EFCC’s ongoing efforts to manage assets forfeited through legal proceedings, ensuring transparency and public participation in the disposal process.

PUBLIC NOTICE

The General Public is hereby notified that the @officialEFCC through its appointed Auctioneers will conduct e-Auction of the under listed vehicles that are subject of final Forfeiture orders in accordance with the EFCC (Establishment) Act, 2004, Public Procurement… pic.twitter.com/JuUH7Xe9IE

— EFCC Nigeria (@officialEFCC) January 20, 2025

The EFCC has emphasized that the process will follow strict guidelines, ensuring asset allocation fairness while generating government revenue.

How to Partake in the EFCC E-Auction

To participate in the auction, interested bidders must follow these steps:

1. Auction Date & Time
   • The auction starts at 11:00 AM and closes at 4:00 PM on January 27, 2025.
2. Open to the Public
   • The auction is available to all Nigerian residents, except EFCC staff and individuals with forfeiture cases.
3. Viewing Assets
   • Prospective bidders can inspect vehicles listed online from January 20 to January 27, 2025.
     

     LOT	AUCTIONEER	LOCATION	AUCTION & VIEWING WEBSITE
     1	RIHAGO AUCTION LTD	Abuja	rihago.com
     2	BIZ N JEG INTEGRATED SERVICES	Abuja, Sokoto, Kaduna, Kano, Benin	biznjeg.ng
     3	AREOGUN RESOURCES NIG LTD	Benin	areogunresourcesnigltd.com.ng
     4	KAMYUS CONSULT LTD	Benin	auction.kamyusconsult.ng
     5	AIKSON NWANKWO DISTRIBUTION SERVICES	Benin	aiksonnwankwo.ng
     6	FAGOBE COMPANY LTD	Benin, Lagos	fagobe.com
     7	USBU-A LTD	Lagos	usbua.ng
     8	ALIYU A. KILIYA AUCTIONEERING & CO	Lagos	kili.ng
     9	PSC INTERNATIONAL INVESTMENT LTD	Lagos	pscinternational.ng
     10	I-NAIRA INTEGRATED RESOURCES LTD	Lagos	i-naira.com
     11	MUSA KURRA & CO	Lagos	kurra.ng
     12	MAU & BROTHERS NIG LTD	Lagos, Ilorin, Port Harcourt	auction.mauandbrothers.com
     13	LANSAR AGHAJI & CO	Enugu, Port Harcourt, Ilorin	lansaraghajiandco.com
     14	RICHMATE 480 NIG LTD	Port Harcourt, Uyo, Ilorin	richmate480.com
     15	FSS LTD	Ilorin	fssauction.com
     16	AUCTION PLUS ROYAL GLOBAL SERVICES LTD	Ibadan, Ilorin	bids.auctionplus.ng
     NOTE: Viewing Date: Monday, 20th January – Monday, 27th January 2025 (All day) Auction Date & Time: Monday, 27th January 2025 (11:00 AM – 4:00 PM)

4. Condition of Assets
   • Items will be sold “AS IS” and “WHERE IS,” meaning buyers accept the vehicles in their current condition and location.
5. Bidding & Pricing
   • No asset will be sold below the reserve price set by the EFCC.
   • A winning bid must match or exceed the reserve price.
6. Winning Criteria
   • The highest bidder for an asset will be declared the winner at the end of the auction.
7. Payment Process
   • Upon winning, bidders must make 100% payment via Remita using a Retrieval Reference (RRR) issued by the auctioneer.
   • Payment must be made directly to the Government TSA account.
8. Payment Deadline
   • Winners will have 72 hours to complete their payment.
   • If a winner fails to pay within this period, the asset will be offered to the second-highest bidder, who will have 24 hours to pay.
9. VAT Charges
   • A 7.5% VAT will be added to the final “SOLD” price.
10. Collection of Assets

• • After full payment, buyers will receive a Release Note to pick up their assets.
  • If a Release Note is not issued, the buyer is entitled to a full refund.

11. EFCC’s Right to Withdraw Assets

• • The Commission reserves the right to withdraw any item during the auction.

Who Cannot Participate?

• EFCC staff members.
• Individuals, groups, or organizations whose assets were forfeited in the first place.

This auction presents an opportunity for Nigerians to acquire vehicles through a regulated and transparent process. Interested participants should visit the official EFCC auction portals for more details (check the table above).

For more updates on this and other related news, stay tuned to NaijaKnowHow.