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How to Apply & Buy Forfeited Properties From EFCC As Bidding Opens

The economic and Financial Crimes Commission (EFCC) has announced plan to start selling properties that are subject to final forfeiture orders.

Mediangr.com.ng learnt that the anti-graft agency has opened portal for interested persons or organisations to apply to buy the forfeited properties.

According to the commission, application to submit bids for the properties will close on Monday afternoon, January 9, 2023.

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List of the properties and their locations.

According to EFCC, the properties are 16 units of luxury apartments, apartments across the country and plots of land.

  • Banana Island in Lagos homed 24 units of a luxurious block of flats.
  • 21 units of luxury terrace and block of flats at Thornburn, Yaba, Lagos.
  • 16 units of 4 bedrooms terrace duplex at Heritage Court Estate in Port Harcourt, Rivers.
  • Others include apartments and plots of land in Lagos, Abuja metropolis, Anambra, Ebonyi, Gombe, Kaduna, Delta and Edo states.
  • Also, there are hotels, plaza and apartments in Kwara, apartments and plots of land in Osun, Oyo and Cross River.

Who can buy properties from EFCC.

Members of the public can apply for the aution except if you or the organisation have been or are under prosecution by the EFCC; Such companies and employee’s directors of the anti-graft agency.

How to apply to buy properties forfeited to the EFCC.

The bid process for the disposal of the properties is competitve and applicants would need to follow these steps:

Visit the EFCC website (https://www.efcc.gov.ng/efcc/index.php/news-and-information/news-release/8776-auction-efcc-invites-bids-for-forfeited-properties-across-the-country) to download the bid form and verify affidavit for individual and company under MENU: Go to EFCC AUCTION and submit the form with 10% of the bid amount in certified bank draft that can be paid to the EFCC.

If the money is more than N10 million, you will need to provide multiple bank drafts. Unsuccessful bidders will get back their draft on the conclusion of the bidding process.

Successful bidder is expected to pay the 90% outstanding of the bid with 15 working days after the submission deadline, failure to do so means the 10% deposit will become non-refundable and the properties would be offered to another buyers. The EFCC will receive all payment through the Remita platform.

People living in the listed properties may get Right of First Refusal as long as they have valid tenancy agreement; paid up to date rent and complete the Expression of Interest (EOI) form from the EFCC website.

Properties’ bids must be sealed and forwarded to the commission’s box address: Economic and Financial Crimes Commission, Plot 301/302 Institutions and Research District, Jabi, Abuja.

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