FG Allocates Forfeited Assets To 118 Successful Bidders

Federal Government of Nigeria says it has allocated forfeited assets to 118 successful bidders.

Gatekeepers News reports that the Chairman, Inter-Ministerial Committee on the Disposal of Forfeited Assets, Umar Mohammed, on Friday, announced that the assets have been allocated to 118 successful bidders.

In November 2020, the Attorney-General of the Federation (AGF) and Minister Of Justice, Abubakar Malami set up an Inter-Ministerial Committee for Disposal of Forfeited Assets, following a directive by President Muhammadu Buhari.

On Friday, during a press brief in Abuja, Mohammed disclosed that the committee rejected six bids submitted after the deadline, adding that assets such as jewelry were not available as they are still subjects of litigation.

He said, “The qualified valuers are as follows: Lot 1 – 64, Lot 2 – 46, Lot 3 – 7, and Lot 4 – 1. Six bids were rejected as they were submitted after the deadline for bids submission.

“This press conference has been called to inform members of the press and the public at large of the successful bidders for Lots 1-4 valuers. However, the public is invited to note that only clothing materials are available at the moment due to the fact that jewelries are subject of litigation.”

Mohammed who stated that the committee ensured transparency in the bidding and selection exercise, encouraged bidders to be transparent in the sale of the forfeited assets.

He, therefore, assured that the committee will work with the bidders to ensure successful completion of the task.

Mohammed said, “The method of selection is quality-based selection method (QBS), while the consultancy fee will be based on agreed percentage from the proceeds of the disposed of assets.

“The second reason we invited you is for you to observe the open balloting process to allocate lots/assets to the successful bidders. There is no ‘order from above’ in this particular exercise as we have planned it to be open and transparent in line with international best practice and anti-corruption drive of this administration.”