Abuja, June 15, 2026,– The National Drug Law Enforcement Agency (NDLEA) has auctioned four properties forfeited by convicted drug traffickers to the Federal Government for a total sum of N6.148 billion.
The agency announced on Monday that the sale followed a competitive bidding process conducted for eight assets seized from drug barons across the country.
Speaking at the bid-opening ceremony in Abuja, the Head of Asset Recovery and Management Unit in the Federal Ministry of Justice, Ms Tamarantare Francis Ali-Bozi, disclosed that four properties attracted successful bids, while bids for the remaining four failed to meet the approved reserve prices.
According to her, a six-floor hotel located in Victoria Island, Lagos, emerged as the highest-valued asset sold, attracting a winning bid of N5.9 billion from Tope Ojo and Tunde Olonishakin Estate Firm.
Ali-Bozi said that FSS Ltd. won a property in Lekki Phase 1, Lagos, with a bid of N219.5 million, while A-BNB Global Innovations Ltd. secured a block of flats in Ejigbo, Lagos, for N104 million.
She added that Fazeen Global Link Ltd. emerged the successful bidder for a property in Akure, Ondo State, with an offer of N29.36 million.
In a remark delivered on his behalf by the NDLEA Secretary, Mr Shadrach Haruna, the Chairman/Chief Executive Officer of the agency, retired Brig.-Gen. Mohamed Buba Marwa, said the auction underscored the government’s commitment to depriving criminals of the proceeds of illicit drug trafficking.
Marwa said that beyond generating revenue for government, the disposal of forfeited assets reinforced public confidence in the rule of law and demonstrated accountability in the management of recovered assets.
“Public auctions such as this serve a broader national purpose. Beyond generating revenue for the Government, they reinforce public confidence in the rule of law, demonstrate accountability in the management of recovered assets, and send a clear message that criminal proceeds will not be allowed to remain in the hands of those who seek to profit from the misery and destruction caused by illicit drugs,” he said.
The NDLEA boss reiterated the agency’s resolve to strengthen Nigeria’s asset recovery framework and ensure that recovered assets were managed and disposed of transparently and in the public interest.
He said the agency would continue to pursue drug traffickers, dismantle criminal networks, recover proceeds of crime and uphold the rule of law.
Marwa also stressed that the auction process was conducted openly and transparently, with representatives of anti-corruption agencies, civil society organisations, the media, auctioneers and prospective bidders in attendance.
According to him, all assets put up for auction were professionally valued by the Federal Ministry of Housing and Urban Development, while due diligence and security screening were conducted on all auctioneers pre-qualified by the Bureau of Public Procurement (BPP).
He noted that the process complied fully with the provisions of the Proceeds of Crime (Recovery and Management) Act, 2022, the Public Procurement Act, 2007, and other relevant regulations.
Marwa expressed satisfaction that none of the auctioneers engaged in the exercise had any known links to drug-related offences or other criminal activities capable of undermining the integrity of the process.
