FG commended on bid to auction recovered assets

The President of the Nigeria Association of Auctioneers (NAA), Alhaji Aliyu Kiliya, has commended the adherence to the Public Procurement Act in the disposal of recovered assets. The federal government’s inter-ministerial committee on the disposal of forfeited assets last week opened bidding for auctioneers and estate valuers for the disposal of recovered assets, with over […]

The President of the Nigeria Association of Auctioneers (NAA), Alhaji Aliyu Kiliya, has commended the adherence to the Public Procurement Act in the disposal of recovered assets.

The federal government’s inter-ministerial committee on the disposal of forfeited assets last week opened bidding for auctioneers and estate valuers for the disposal of recovered assets, with over 2,000 firms immediately indicating interest to participate in the exercise.

Alhaji Kiliya said the disposal of assets which included landed property, plants, machinery, motor vehicles, furniture and equipment, water vessels (canoes, boats, yachts, barges and ships) and jewellery, ornaments and clothing materials, was going on transparently.

Speaking during the exercise on Thursday, the Chairman of the inter-ministerial committee and Permanent Secretary in the Federal Ministry of Justice, Dayo Apata (SAN), said the committee visited 24 places nationwide to identify the assets.

He said the committee, which was set up on December 9, 2020, consequent upon the directive of President Muhammadu Buhari was interested in transparency and disposal through international best practices.

He noted that the estate valuers who participated in the initial stage of valuation of the assets were automatically disqualified from firms involved in the auction exercise.