Over 2000auctioneers and estate surveyors bid to sell Assets forfeited to FG

The Inter-Ministerial Committee on the Disposal of Forfeited Assets to the federal government, on Thursday, disclosed that no fewer than 2000 firms were bidding for the sale of assets forfeitted to the federal government.

Chairman of the Sub-Committee on the Sales of Forfeited Assets, Egnr. Bello Nasir, disclosed this during the engagement of auctioneers for the disposal of the said assets.

Shortly before conducting symbolic opening of the bid, the Chairman of the Inter-Ministerial Committee and Permanent Secretary of the Ministry of Justice, Mr Dayo Apata (SAN), said the committee identified assets to be sold in 25 locations across the country outside places plagued with violence and insecurity.

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“Estate surveyors and valuers had gone to see the forfeitted assets in order to ensure they are sold at market value,”‘ Apata said.

He added that the bid opening followed an advertisement placed on May 10 this year for autioners to show interest in auctioning of the forfeitted assets.

While assuring the public of transparency in the exercise, Apata, said the criteria set out by the 14-member of the Inter-Ministerial Committee will be strictly followed in the selection of autioners.

He said any estate surveyor or valuer who participated in the valuation of the properties to be sold will not be allowed to bid as they cannot bid for what they have valued.

He also said members of the committee will not be part of the auctioneers.

The submission of the bid formally closed 12 noon, Thursday, and the process of bidding commenced immediately with the chairman of the sub committee, Bello Nasir from the Bureau of Public Procurement (BPP), identifying bidders based on their lot.

The Attorney General of the Federatiion and Minister of Justice, Mr Abubakar Malami (SAN), had on November 20, 2020, inaugurated the Inter-Ministerial Committee to manage the disposal of assets forfeited to the government.

Source: This Day Live