The National Drug Law Enforcement Agency (NDLEA) says a Lagos hotel and three other properties forfeited by convicted drug traffickers have been sold for N6.15 billion through a public auction.
The agency said the assets were among eight properties seized from drug barons and permanently forfeited to the Federal Government through court processes.
According to the NDLEA, four properties attracted successful bids above their reserve prices, while bids for the remaining four assets were unsuccessful because they did not meet the approved valuation.
At the auction held at the NDLEA headquarters in Abuja, Tope Ojo and Tunde Olonishakin Estate Firm emerged winners of a six-storey hotel in Victoria Island, Lagos, with a bid of N5.9 billion.
Other successful bidders included FSS Limited, which acquired a property in Lekki Phase 1, Lagos, for N219.5 million; A-BNB Global Innovations Limited, which won a block of flats in Ejigbo, Lagos, for N104 million; and Fazeen Global Link Limited, which purchased a property in Akure, Ondo State, for N29.36 million.
NDLEA Chairman and Chief Executive Officer, Brigadier General Mohamed Buba Marwa (retd.), represented by the Agency Secretary, Shadrach Haruna, said the auction sends a strong message that criminal proceeds will not remain with those who profit from illicit drug activities.
Marwa said the process was conducted transparently and in line with the Proceeds of Crime (Recovery and Management) Act, 2022, and other relevant laws.
He added that the agency would continue to pursue drug traffickers, dismantle criminal networks, and recover proceeds of crime while ensuring recovered assets are managed for public benefit.
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