N13.1bn Bid for forfeited Ikoyi Property Fails as EFCC Opens Sale of Forfeited Real Estate Assets in Abuja

The Economic and Financial Crimes Commission, EFCC, today, January 9, 2023 in Abuja, commenced the sale of forfeited real estate assets by sealed bids, to the highest bidders. At today's session, there was no successful bid for the properties in Lot 1 comprising 24 units of luxury flats at Banana Island, Ikoyi, Lagos, which was expected to be sold as a single unit. A bidder who turned in the highest bid of N13.1 billion was disqualified for failure to include the stipulated 10% of the bid amount. Other bidders did not make the reserve price. Consequently, Secretary to the Commission,

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