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EFCC E-Auction : “We Have Recovered Rolls-Royce, Bentley, Lamborghini, Ferrari” – Ex-boss
2025 EFCC E-Auction : “We have recovered Rolls-Royce, Bentley, Lamborghini, Ferrari” – says Ex-boss.
Former EFCC boss, Ibrahim Magu, said this while conducting journalists round some exotic cars seized from Yahoo Boys.
The Ola Olukoyede-led Management of the Economic and Financial Crimes Commission (EFCC) on Monday January 27th 2025 conducted an electronic auction of 800+ vehicles through its appointed Auctioneers, which it said were forfeited to the Federal Government.
In a notice tagged “PUBLIC NOTICE : EFCC AUCTION”, the anti-graft agency said the vehicles have been forfeited in accordance with the EFCC (Establishment) Act, 2004, Public Procurement Act, 2007 and the Proceeds of Crime (Recovery & Management) Act, 2022.
According to the details shared by EFCC, vehicles listed for sale includes high-end models from brands like Lexus and Mercedes. EFCC noted that successful bidders are expected to make full payments within 72 hours (3 days).
Since EFCC began its fight against fraudulent activities committed within and outside the country, the anti-graft agency has confiscated luxuries cars, cash, houses, and other incriminating materials like laptops and phones.
It will be recalled that the former EFCC boss, Ibrahim Magu, explained that there is no single brand of vehicle the anti-graft agency has not seized from Yahoo Boys.
While conducting journalists round some exotic cars seized from Yahoo Boys, the former EFCC boss revealed it has recovered cars from all brands, including Rolls-Royce, Lamborghini, Ferrari, Lexus, Mercedes, Jaguar and Bentley.
“If you see the cars that we have recovered, you will think that we are in the car business. These are all Yahoo Yahoo. All brands of cars – Jaguar, Rolls Royce, Bentley”.
Magu also revealed that all the recovered items seized from the suspected fraudsters were auctioned off at the highest bidder.
He said :
“The idea of selling recovered proceed of crime for peanuts is bad. This time around, we are not going to tolerate it.”
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