NDLEA Auctions Drug Cartels’ Forfeited Assets

The National Drug Law Enforcement Agency (NDLEA) on Tuesday auctioned properties and assets forfeited by drug cartels, valued at millions of naira.

Speaking during the bidding process in Abuja, NDLEA chairman, retired Brig. Gen. Buba Marwa expressed the agency’s satisfaction with the process, emphasising that the move would serve as a deterrent to drug traffickers.

Marwa assured that the auction would be conducted transparently and strictly on merit.

The NDLEA boss recounted how a friend’s representative was misled during a bidding process in a government ministry, saying such malpractice would not occur in the agency’s auction.

Marwa said the exercise seeks to “dismantle the financial empire of drug traffickers and to disrupt their networks”.

He described drug abuse as a leading problem in Nigeria, stating that traffickers don’t feel bad when convicted because they’ll eventually be freed, and their assets await them.

“Their money, their bank accounts, their houses, and so on and so forth. But now that’s not the case. Once you are in, you know that there are no assets that are going to wait for you after your period in jail.

“And so these are the assets that have been forfeited from these criminals, and I hope they are all going to be snapped away today,” he said.

The NDLEA chairman noted that the agency was committed to ensuring that convicted traffickers did not benefit from their illegal activities.

Marwa said the forfeited assets would be sold to the highest bidder, adding that the proceeds would be used to support the agency’s operations.

Grace Orieoma, director of the proceeds and crime department at ICPC, described the NDLEA’s public auction of forfeited assets from convicted drug traffickers as a significant milestone in Nigeria’s anti-corruption efforts.

Orieoma commended the NDLEA for its commitment to transparency and accountability, noting that beyond depriving convicted traffickers of their illicit gains, the agency was also generating revenue for the government.

In his remarks, Iyke Nwoko, the immediate past national treasurer of the Nigeria Association of Auctioneers, called for a review of the valuation process.

Nwoko expressed concerns that the government’s valuation of items was too high, making it difficult for bidders to meet the set prices.

He pointed out that, in some cases, the government’s valuation exceeded the actual cost of constructing the properties, creating challenges for potential buyers.

“For instance, if it costs N3 million to set up a structure, the Ministry of Works will value it at either N6 million or N7 million. This makes it difficult for people to bid.

“We advise the government to review the valuation process, taking into account the actual cost of setting up the structure, to make it easier for bidders to participate,” he said.

Nwoko, however, commended the transparency of the auction process, stating that the highest bidder always emerged and the process was fair and free from compromise.

NDLEA Auctions Drug Cartels’ Forfeited Assets is first published on The Whistler Newspaper