2000 auctioneers apply as FG opens forfeited assets’ bidding

A gas station attendant displays a large bundle of naira banknotes after selling fuel to a customer in Port Harcourt, Nigeria, on Friday, Jan. 15, 2016. With his security forces engaged in fighting Boko Haram's Islamist insurgency in the north, President Muhammadu Buhari can't afford renewed rebellion in the delta. Photographer: George Osodi/Bloomberg

No fewer than 2000 auctioneers Thursday applied for the bidding of auctioning off of all the ’s forfeited assets.

The exercise, which took place at the premises of the Federal Ministry of Justice, Abuja, was supervised by the Inter-Ministerial Committee on the Disposal of Forfeited Assets.

The assets were recovered from alleged treasury looters and forfeited to the government on the order of courts.

Recall that had on November 9, , inaugurated the 22-member Inter-Ministerial Committee, which he mandated to dispose of all assets forfeited to the .

The Chairman of the committee, Mr. Dayo Apata, SAN, flagged off the bidding , said the forfeited assets are currently situated in 25 different locations in the country.

Apata, doubles as the Permanent Secretary of the Ministry of Justice and Solicitor General of the ,  said the forfeited assets included landed properties, plants, machinery, motor vehicles, electronics, furniture and equipment, water vessels, jewelry, ornaments, as well as clothing materials.

Apata said the committee had earlier embarked on onsite verification and auditing of the forfeited assets to confirm their existence and to ascertain their current state.

He said the committee carried out proper valuation of all the assets in accordance with international best practices and was able to ascertain their current market values.

While assuring all the bidders of fairness and equal , Apata disclosed that no member of the committee or any estate valuer firm that participated in the valuation would be allowed to partake in the auction.

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