The Economic and Financial Crimes Commission (EFCC) plans to auction no fewer than 850 forfeited cars by suspects facing corruption, money laundering, and many other charges.
The cars, ranging from luxury models to the mid-range Toyota Camry, were recovered during investigations into financial crimes, including corruption, money laundering and cyber fraud.
In a statement released on Monday, the EFCC disclosed that the auction aligns with the EFCC (Establishment) Act, 2004, the Public Procurement Act, 2007, and the Proceeds of Crime (Recovery and Management) Act, 2022.
Read Also: 14 Filipinos arraigned by EFCC for alleged cyber-terrorism, internet fraud in Lagos
The auction is said to take place in multiple locations nationwide, including Lagos, Abuja, Port Harcourt, and Kano. It will be conducted in collaboration with designated auctioneers to ensure a transparent and fair process.
The statement reads: “The general public is hereby notified that the @officialEFCC through its appointed auctioneers will conduct e-auction of the underlisted vehicles that are subject of final forfeiture orders in accordance with the EFCC (Establishment) Act, 2004, Public Procurement Act, 2007 and the Proceeds of Crime (Recovery & Management) Act, 2022.”
The auction underscores the EFCC’s commitment to ensuring that forfeited assets are transparently managed and returned to public use.