NDLEA auctions forfeited assets for ₦6.15 bn

The National Drug Law Enforcement Agency has auctioned four properties forfeited by convicted drug traffickers for a total of 6.15 billion naira, with a six-floor hotel in Lagos accounting for the vast majority of the proceeds. The public auction was conducted on Monday, June 15, 2026, at the agency's headquarters in Abuja.

The agency offered eight forfeited assets for sale, but only four attracted bids that met or exceeded the government's approved reserve prices. The most valuable asset, a hotel on Victoria Island in Lagos, was sold for 5.9 billion naira to Tope Ojo and Tunde Olonishakin Estate Firm. A property in Lekki Phase 1, Lagos, was acquired by FSS Limited for 219.5 million naira. ABNB Global Innovations Limited secured a block of flats in Ejigbo, Lagos, for 104 million naira, and Fazeen Global Link Limited purchased a property in Akure, Ondo State, for 29.36 million naira.

The Head of the Asset Recovery and Management Unit of the Federal Ministry of Justice, Tamarantare Francis Ali-Bozi, announced the winning bids during a ceremony witnessed by representatives from the Independent Corrupt Practices and Other Related Offences Commission, civil society organizations,...