EFCC set to auction 891 forfeited cars, releases guidelines

The Economic and Financial Crimes Commission (EFCC) has announced plans to conduct an electronic auction of 891 forfeited vehicles.

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

The Commission disclosed that the electronic auction would take place from January 20 to January 27, 2025, and has named the approved auctioneers responsible for the sale. Interested bidders can access details on the following websites: www.rihogo.com, https://biznjeg.ng, and www.areogunresourcesniglid.com.ng.

The guidelines released by the commission state that the auction will be open nationwide and will run from 11:00 AM to 4:00 PM on Monday, 27th January 2025. Asset viewing is free and available on the listed websites from January 20.

The EFCC emphasised that the vehicles will be sold “AS IS” and “WHERE IS” in their current condition and location. It further highlighted that no asset would be sold below its reserve price, and winning bids must meet or exceed this threshold.

The guidelines also stipulate that winning bidders must make a 100% payment via Remita Retrieval Reference (RRR) issued by the auctioneer within 72 hours. A 7.5% VAT will be added to the final price, payable to the Government TSA.

Check out the link to the post below:

https://x.com/officialefcc/status/1881271727465914462?s=46

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