NDLEA auctions Lagos hotel, three other drug-linked properties for N6.1bn

The National Drug Law Enforcement Agency, NDLEA, has generated a total of N6,148,964,000 from the public auction of a Lagos hotel and three other properties confiscated from convicted drug traffickers and permanently forfeited to the Federal Government through legal proceedings.

A statement signed by the Director of Media and Advocacy, NDLEA Headquarters, Abuja, Femi Babafemi, on Monday said the proceeds emerged from a competitive bidding exercise involving eight forfeited assets linked to drug barons across different parts of the country.

Four properties attracted successful bids above their reserve prices, while bids for the remaining four assets fell short of the benchmark and were therefore unsuccessful.

Speaking during the opening of bids at the NDLEA headquarters in Abuja on Monday, June 15, 2026, the Head of the Asset Recovery and Management Unit at the Federal Ministry of Justice, Tamarantare Francis Ali-Bozi, announced the successful bidders.

He disclosed that Tope Ojo and Tunde Olonishakin Estate Firm secured a six-storey hotel located in Victoria Island, Lagos, with a winning bid of N5.9 billion.

Other successful bidders included FSS Limited, which acquired a property in Lekki Phase 1, Lagos, for N219.5 million; A-BNB Global Innovations Limited, which won a block of flats in Ejigbo, Lagos, with a bid of N104 million; and Fazeen Global Link Limited, which emerged as the highest bidder for a property in Akure, Ondo State, at N29.36 million.

Represented by the Agency Secretary, Shadrach Haruna, NDLEA Chairman and Chief Executive Officer, Brig. Gen. Mohamed Buba Marwa (retd.), said the auction was aimed at promoting transparency and strengthening public trust in government institutions.

According to him, “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.”

Marwa further assured that “the Agency remains steadfast in its determination to strengthen Nigeria’s asset recovery framework and to ensure that recovered assets are managed and disposed of in a manner that is transparent, lawful and beneficial to the public interest”, adding that “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.”

On measures taken to ensure a credible 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 noted that “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.”

Marwa also revealed that “Furthermore, the Agency 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.”