e-Auction Of 891 Forfeited Vehicles : EFCC To Review Complaints, Says 4 Million Nigerians Participated

e-Auction of 891 Forfeited Vehicles : EFCC promise to review complaints made by participants during the exercise.

EFCC had on Monday January 27th 2025 conducted an e-auction of forfeited vehicles through its accredited auctioneers.

Among the complaints received by EFCC were outrageous bid prices and inability to access the websites of the auctioneers.

The Economic and Financial Crimes Commission (EFCC), has promised to review the complaints of some Nigerians who participated in the just concluded electronic auction of 891 forfeited vehicles.

The anti-graft agency had on Monday January 27th 2025 conducted an e-auction of forfeited vehicles through its accredited auctioneers, with over four million Nigerians reported to have participated.

Among the complaints received by the Commission were the inability of some citizens to access the websites of the auctioneers, being shut out from the platforms after submitting bids and outrageous bid prices.

While currently awaiting the report of the Auctioneers, the Commission blamed the sheer number of participants in the exercise and unstable internet service in parts of the country for the unsavoury experiences.

“Relevant Departments of the Commission monitored the exercise and can confirm that there were glitches. This observation was communicated to the auctioneers for remedial action,” EFCC said in a statement on Thursday.

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“The Commission could, however, not directly intervene while the exercise was ongoing because the process had been assigned to duly accredited and licensed auctioneers in line with provisions of Sections 4(a)(b) of the Proceeds of Crime ( Recovery and Management) Act, 2022 and Section 55 of the Public Procurement Act, 2007.”

“The complaints arising from the exercise are rather unfortunate and detracts from the plan of the Commission in settling for online auction which was designed to provide a platform for seamless and transparent participation by millions of Nigerians interested in purchasing the forfeited assets.”

“Without making excuses for the auctioneers, it is possible that the sheer number of participants in the exercise (over 4 million) perhaps stretched the carrying capacity of the online facilities of the auctioneers, while unstable internet service in parts of the country exacerbated the challenge.”

The Commission is currently awaiting the report of the auctioneers and assures that genuine complaints by members of the public will be reviewed to ensure that no one is short-changed in the exercise. Those who follow through the process without glitches and emerged winners will certainly be allocated their vehicles.”

“The Commission’s only interest in the public auction is to ensure that the assets are disposed of in the most transparent manner and the nation gets value for the assets. This cannot be compromised under any circumstance.”

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