Nigeria

613 Bidders jostle for Nigerian government’s forfeited assets

The Federal Government has revealed that a total of 613 bidders are currently bidding for assets recovered by relevant agencies in line with the anti-corruption drive of the present administration.

Chairman of the Inter-Ministerial Committee (IMC) for the disposal of the forfeited assets and Solicitor-General of the Federation, Etsu Umar Mohammed, made this known over the weekend in Abuja at the open balloting for the allocation of the assets to valuers.

The IMC chairman said in line with international best practices on transparency and accountability, the committee held several meetings and took concrete steps in developing a framework for the assets disposal process.

He maintained that the process was at 90 per cent completion, noting that part of the landmark in the process is the current picking of the ballot by independent valuers.

A member of the IMC, Rev David Ugolor said the committee was saddled with the responsibility of ensuring proper coordination of disposal of the assets forfeited to the Federal Government and to promote a uniform, harmonised and transparent procedure to safeguard the forfeited assets.

Ugolor, who is also the executive director of the African Network for Environment and Economic Justice (ANEEJ), further said the committee was responsible for the development of its targets and work plans to measure performance and respond to ongoing assets management audit and assets performance reports.

He also said the IMC adopted competitive bidding for the engagement of consulting estate surveyors and valuers for the valuation of the forfeited assets, urging the successful valuers to exhibit professionalism and ensure the efficient and expedient valuation of all forfeited assets.

It will be recalled that the IMC on the disposal of assets forfeited to the Federal Govt was inaugurated on November 9, 2020, following a presidential directive made in October the same year.

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