EFCC to conduct electronic auction of 891 forfeited cars

The Economic and Financial Crimes Commission (EFCC) has announced plans to auction 891 forfeited vehicles through an electronic auction set to run from January 20 to January 27, 2025.

According to a notice shared on the EFCC’s official X account, the vehicles were confiscated in accordance with the EFCC (Establishment) Act 2004, the Public Procurement Act 2007, and the Proceeds of Crime (Recovery & Management) Act 2022.

The auction will be conducted nationwide, with bidding scheduled daily between 11:00 AM and 4:00 PM. Asset viewing is free and accessible on approved websites, including www.rihogo.com, biznjeg.ng, and www.areogunresourcesniglid.com.ng, starting January 20.

The EFCC emphasized that all vehicles will be sold on an “AS IS” and “WHERE IS” basis, meaning buyers are responsible for their current condition and location. Additionally, no vehicle will be sold below its reserve price. Winning bidders must pay 100% of the bid price via Remita Retrieval Reference (RRR) within 72 hours, with a 7.5% VAT added to the final price payable to the Government TSA.

The EFCC’s guidelines underline a transparent and regulated process aimed at ensuring fairness and compliance with legal frameworks. Interested individuals are encouraged to visit the websites for detailed information and participation.

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