The National Drug Law Enforcement Agency (NDLEA) has successfully auctioned four properties, including a Lagos hotel, linked to convicted drug traffickers, generating a total of N6.15 billion. The auction involved eight forfeited assets, with four attracting bids above their reserve prices.
A six-storey hotel in Victoria Island, Lagos, was sold for N5.9 billion to Tope Ojo and Tunde Olonishakin Estate Firm. Other successful bids included a property in Lekki Phase 1 for N219.5 million, a block of flats in Ejigbo for N104 million, and a property in Akure for N29.36 million. NDLEA Chairman Brig.
Gen. Mohamed Buba Marwa (retd.) emphasized that the auction promotes transparency, public trust, and reinforces the message that criminal proceeds will not be tolerated.
The process adhered to legal requirements, including professional valuation and due diligence on auctioneers, with observers from various agencies and the public present to ensure fairness and accountability.
