New Year, New Car: Nigeria EFCC to Auction 891 Forfeited Vehicles.

New Year, New Car: Nigeria EFCC to Auction 891 Forfeited Vehicles.

by Yeyetunde at January 22, 2025

The Economic and Financial Crimes Commission (EFCC) has announced plans to auction 891 forfeited vehicles through an electronic auction.

The vehicles, which were confiscated in accordance with the EFCC (Establishment) Act, 2004, the Public Procurement Act, 2007, and the Proceeds of Crime (Recovery & Management) Act, 2022, will be available for bidding until January 27, 2025.

The EFCC has listed accredited auctioneers and provided designated platforms where interested buyers can participate.

Interested bidders are encouraged to visit EFCC auction platforms to view available vehicles and complete the necessary registration process.

The EFCC has assured transparency in the bidding process, stating that all sales will be conducted in line with legal provisions governing asset forfeiture and disposal.

The vehicles will be sold according to EFCC location of bidding and their current condition and location.

Winning bids must meet or exceed the reserve price, and payment must be made via Remita Retrieval Reference (RRR) issued by the auctioneer within 72 hours.

A 7.5% VAT will be added to the final price, payable to the Government TSA.

This latest auction is part of the EFCC’s ongoing efforts to recover and manage assets linked to financial crimes in Nigeria.

Disclaimer: This blog is dedicated to reporting trending news and does not engage in the sale of any vehicles.

The information provided is for informational purposes only and should not be construed as an endorsement or involvement in the auction process.

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