The auction followed a bidding process for eight assets seized from convicted drug traffickers across different parts of the country, according to NDLEA’s Director of Media & Advocacy, Femi Babafemi, in a statement on Monday.
A Lagos hotel and three other properties confiscated from drug barons by the National Drug Law Enforcement Agency (NDLEA) and forfeited to the Federal Government through court orders have been auctioned for a total of ₦6,148,964,000.00.
The auction followed a bidding process for eight assets seized from convicted drug traffickers across different parts of the country, according to NDLEA’s Director of Media & Advocacy, Femi Babafemi, in a statement on Monday.
According to the agency, of the listed properties, four were successfully sold after bidders submitted offers above the reserved prices, while the remaining four attracted no qualifying bids.
The bid opening ceremony, held on Monday, June 15, 2026, at the NDLEA headquarters in Abuja, was attended by representatives of the Independent Corrupt Practices and Other Related Offences Commission (ICPC), civil society organisations, auctioneers, and participating bidders.
Announcing the results, the Head of the Asset Recovery and Management Unit of the Federal Ministry of Justice, Tamarantare Francis Ali-Bozi, declared Tope Ojo and Tunde Olonishakin Estate Firm the winner of a six-storey hotel in Victoria Island, Lagos, with a bid of ₦5.9 billion.
Other successful bidders include FSS Limited, which acquired a property in Lekki Phase 1, Lagos for ₦219.5 million, and A-BNB Global Innovations Limited, which won a block of flats in Ejigbo, Lagos for ₦104 million.
Also successful was Fazeen Global Link Limited, which secured a property in Akure, Ondo State for ₦29.36 million.
However, bids for four other forfeited properties failed, as none met the reserved price thresholds set for the auction.
In his remarks at the ceremony, Chairman/Chief Executive Officer of NDLEA, Brig Gen Mohamed Buba Marwa (rtd) who was represented by the Agency Secretary, Shadrach Haruna noted that “public auctions such as this serve a broader national purpose.”
“Beyond generating revenue for the Government, they reinforce public confidence in the rule of law, demonstrate accountability in the management of recovered assets, and send a clear message that criminal proceeds will not be allowed to remain in the hands of those who seek to profit from the misery and destruction caused by illicit drugs,” he said.
“We shall continue to pursue drug traffickers, dismantle criminal networks, recover the proceeds of crime and uphold the rule of law without fear or favour,” he added.
Speaking on the integrity of the process, the NDLEA boss stated that “to further enhance transparency and public confidence in the process, representatives of sister law enforcement and regulatory agencies, civil society organisations, the media, prospective bidders and members of the public have been invited to witness the bid-opening exercise.”
“The bids received for each lot will be evaluated against the approved reserve price, and the highest responsive bidder who satisfies all requisite conditions shall be declared the successful bidder. The entire process will be conducted openly, fairly and transparently in the presence of all attendees,” he said.
“The process culminating in today’s auction has been conducted in strict compliance with the provisions of the Proceeds of Crime (Recovery and Management) Act, 2022, the Public Procurement Act, 2007, and all other applicable laws, regulations and guidelines. Consistent with the Agency’s commitment to transparency, accountability and due process, all assets earmarked for auction were professionally valued by the Federal Ministry of Housing and Urban Development, the designated official valuer of the Federal Government.”
According to him, NDLEA “undertook extensive due diligence and security screening of all auctioneers pre-qualified by the Bureau of Public Procurement (BPP).”
“We are satisfied that none of the auctioneers engaged in this process has any known involvement in drug-related offences or any other criminal activity capable of compromising the objectives of the Proceeds of Crime (Recovery and Management) Act or the integrity of this exercise,” he added.