The National Drug Law Enforcement Agency (NDLEA) has raised N6.15 billion from the auction of four properties seized from convicted drug traffickers and forfeited to the Federal Government. The highest bid came for a six-floor hotel in Victoria Island, Lagos, which was sold for N5.9 billion to Tope Ojo and Tunde Olonishakin Estate Firm. The auction, held at the agency's headquarters in Abuja through competitive bidding, also saw FSS Limited purchase a property in Lekki Phase 1 for N219.5 million. A-BNB Global Innovations Limited acquired a block of flats in Ejigbo for N104 million, while Fazeen Global Link Limited secured a property in Akure, Ondo State, for N29.36 million. Four of the eight listed assets attracted bids above their reserved prices, according to Tamarantare Ali-Bozi, Head of the Asset Recovery and Management Unit at the Federal Ministry of Justice, while the remaining four did not meet the minimum valuation thresholds. Brig. Gen. Mohamed Buba Marwa (retd.), Chairman of the NDLEA, said the auction reinforced public confidence in the justice system, with the proceeds from such sales directed toward national development and anti-drug operations. The agency's Secretary, Shadrach Haruna, represented Marwa at the event and read his statement. Marwa emphasized that public auctions ensure transparency in the handling of forfeited assets and serve as a deterrent to drug-related crimes. The properties were forfeited following convictions of individuals involved in drug trafficking.
The NDLEA auctioned only four of eight listed properties, leaving over half unsold despite claims of robust bidding interest. Selling a Lagos hotel for nearly 96% of the total haul raises questions about the geographic and economic concentration of seized assets. If most high-value forfeited properties are in Lagos, it suggests enforcement pressure may be uneven across regions. The agency's message of nationwide deterrence weakens when disposal outcomes are so heavily skewed to one city.
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