Economic and Financial Crimes Commission (EFCC) Landed Properties Auction 2023

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Do you want to buy Landed Properties? Hurry now! The General Public is hereby notified that the Economic and Financial Crimes Commission (EFCC) will conduct sale of the Landed Properties listed below that are subject of final Forfeiture Orders in accordance with the Economic and Financial Crimes Commission (Establishment) Act, 2004, Public Procurement Act, 2007 and the Proceeds of Crime (Recovery and Management) Act, 2022.

Landed Properties Location:

  • Lagos
  • Rivers
  • Abuja
  • Anambra
  • Ebonyi
  • Gombe
  • Kaduna
  • Delta
  • Edo
  • Kwara
  • Cross River
  • Osun
  • Oyo

PROPERTY INSPECTION:
All interested bidders are invited to inspect the properties they are interested in bidding for. The properties will be sold on an “as is” “where is” basis.

Guidelines

  • Bid submission commences after the advertisement and ends 12 noon, Monday, 9th January, 2023
  • The sale process is open to the general public throughout Nigeria for the duraon of the bidding period stated above
  • Asset Viewing free at asset locaon.
  • The assets will be sold AS IS and WHERE IS in their current condion and locaon.
  • No asset will not be sold below its reserve price.
  • A winning bid can only be equal or above the Commission’s reserve price.
  • A bank dra of 10% of the bid amount will be submied alongside the bid forms
  • The person that places the highest bid for an asset will be declared the winner bidder of the asset at the end of the aucon
  • Upon declaraon of winning bidder, a 90% payment via Remita, Retrieval Reference (RRR) to be issued by Auconeer for direct payment to Government TSA.
  • Successful bidder will have 15 working days to make full payment.
  • A 7.5% VAT will be charged and added to the SOLD price and must be paid to Government TSA
  • At the expiraon of the payment 15 working days, consequent upon the failure of the Winning Bid to make payments, the second highest bidder will be offered the asset with payment to be made within 10 working days
  • A Release Note will be issued by the Seller for each item won and sent to all buyers aer confirmaon of payment. The Release Note will be used by buyers to pick up any items won.
  • The Commission reserves the right to withdraw any and all assets during the sale process

Read:

Eligibility

To participate in the process, an interested party must meet the following criteria:
i. Individual/ Corporate entity must not have been/ or is being prosecuted by the EFCC
ii. Directors of interested companies must not have been/ or are being prosecuted by the EFCC
iii. Individual/Corporate entity must not have been convicted of any economic and nancial crimes in Nigeria or abroad.
iv. Individual must not be employees or members of the EFCC
v. Individuals occupying any of the properties listed may be given the Right of First Refusal provided that they have a valid
tenancy agreement; must have paid rent up to date and must complete an Expression of Interest (EOI) Form

Bidding Process

  • A competitive bidding process has been adopted for the disposal of the properties
  • Bid forms must be submitted alongside 10% of the bid amount in Certied Bank Drafts payable to Economic and Financial Crimes Commission. Please note that if the sum exceeds N10 million, multiple certied bank drafts must be provided.
  • The bid submission must be made in a sealed envelop with “BID FOR PROPERTY ”LOT NUMBER and ADC TAG NUMBER
    inscribed on the top left corner of the envelop.
  • The Certied Bank Drafts of unsuccessful bidders will be returned once the bidding process is concluded
  • The successful bidder will be required to pay the 90% outstanding balance of the bid price within 15 working days of the bid submission deadline, failing which the 10% deposit becomes nonrefundable and the properties can be offered to other buyers. Payments shall be made to EFCC through the remita platform.
  • The properties in LOTS 1, 2 and 3 will be sold as a single unit
  • Bids cannot be withdrawn or cancelled once submitted

Submission of Bid

  • Bids for properties in LOTS 1-9 must be sealed and submitted in the designated box at the following address:
    Economic and Financial Crimes Commission Plot 301/302 Institutions and Research District Jabi, Abuja
  • The deadline for the submission of all bids is 12:00 noon Monday, 9th January, 2023

Opening of Bids

  • Bids in lots 1, 2 and 3 will be opened at 2 pm Monday, 9th January, 2023.
  • Bids in lot 4 will be opened at 10 am Tuesday, 10th January, 2023.
  • Bids in lot 5 will be opened at 10 am Wednesday, 11th January, 2023.
  • Bids in lot 6 and 7 will be opened at 10 am Thursday, 12th January, 2023.
  • Bids in lots 8 & 9 will be opened at 10 am Friday, 13th January, 2023.
  • All bids will be opened at the Convocation Ground, National Open University of Nigeria, opposite Economic and Financial Crimes Headquarters, Jabi, Abuja.
  • All bidders and/or their representatives are welcome to be present at the bid opening. The highest bid for each property
    will emerge the winner subject to the highest bid being equal to or above the reserve price. Results will be announced
    immediately after the conduct of the exercise.
  • In the event of a tied bid at the bid opening or where none of the bids match or exceed the reserve price, bidders will
    be required to submit fresh bids at the opening. The outcome of the fresh bid submissions will be announced at the bid opening.

Download the list of Landed Properties for Auction

[googlepdf url=”https://eduschoolnews.com/wp-content/uploads/2022/12/Auction.cdr_.pdf” width=”400″ height=”600″]

 

NOTE: Bid forms can be downloaded from the EFCC website https://www.efcc.gov.ng/efcc-auction

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