The Federal Government says it has auctioned several properties forfeited through court processes after they were linked to drug traffickers. Vanguard reports that the National Drug Law Enforcement Agency (NDLEA) seized the assets and that the government then disposed of them through an auction to recover value associated with the crimes. The report states that the auction covers four forfeited properties, including a hotel in Lagos, with proceeds reported in the range of about N6.1 billion to N6.15 billion. One report specifies the total proceeds as N6.148 billion, while another describes the figure as N6.15 billion. The government also reiterates that proceeds of crime are not meant to be enjoyed by convicted criminals, emphasizing that recovered assets are handled through lawful forfeiture and disposal channels. Details on the buyers were not provided in the excerpts, but both accounts agree on the key points: the NDLEA’s role in seizure, the court-linked forfeiture of the properties, and the auction proceeds near N6.1–N6.15 billion.
Federal Government auctions forfeited properties linked to drug traffickers for about N6.1bn
The Federal Government says it has auctioned several properties forfeited through court processes after they were linked to drug traffickers. Vanguard reports that the National Drug Law Enforcement Ag...
- The NDLEA seizes properties linked to drug traffickers and seeks their forfeiture through court processes.
- The Federal Government auctions forfeited properties related to convicted drug offenders.
- The auction includes assets in Lagos, including a hotel.
- Reported auction proceeds are about N6.1 billion to N6.15 billion (including a cited total of N6.148 billion).
- The government states it is ensuring criminal proceeds are not retained by offenders.
kingpins by the National Drug Law Enforcement Agency, NDLEA, and forfeited to the agency, through court processes, for the sum of N6.148 billion. The post FG auctions Lagos hotel, 3 properties forfeited by drug lords at N6.1bn appeared first on Vanguard News.
2 hours agoBy Kingsley Omonobi The Federal Government has auctioned four properties forfeited by convicted drug traffickers for a total of N6.15 billion, reaffirming its commitment to ensuring that proceeds of crime do not remain in the hands of criminals. The assets, including a hotel in Lagos, were seized by the National Drug Law Enforcement Agency (NDLEA) […] The post FG auctions forfeited properties for N6.15bn, says drug proceeds won’t be enjoyed appeared first on Vanguard News.
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