The National Drug Law Enforcement Agency (NDLEA) has auctioned four properties forfeited to the Federal Government by drug kingpins for a total sum of N6.153 billion.
The assets, recovered from drug traffickers through court-ordered forfeiture proceedings, were sold through a competitive bidding process conducted at the NDLEA headquarters in Abuja on Monday, June 15, 2026.
The biggest transaction from the exercise was a six-floor hotel located in Victoria Island, Lagos, which was sold for N5.9 billion to Tope Ojo and Tunde Olonishakin Estate Firm.
Other successful bids included a property at Lekki Phase 1, Lagos, purchased by FSS Limited for N219.5 million; a block of flats in Ejigbo, Lagos, acquired by A-BNB Global Innovations Limited for N104 million; a property in Akure, Ondo State, won by Fazeen Global Link Limited for N29.36 million; and another property at Ijesha/Itire, Lagos, purchased by Tresmo Nigeria Limited for N4.3 million.
The auction was part of a broader sale involving eight forfeited assets linked to drug barons. While successful bidders emerged for five properties after meeting or exceeding approved reserve prices, bids for three properties failed as no bidder reached the required threshold.
Speaking at the bid-opening ceremony, NDLEA Chairman and Chief Executive Officer, Brigadier-General Mohamed Buba Marwa (rtd), who was represented by the Agency Secretary, Shadrach Haruna, said the exercise sent a strong warning to criminal organisations.
“Public auctions such as this serve a broader national purpose. Beyond generating revenue for the Government, they reinforce public confidence in the rule of law and demonstrate accountability in the management of recovered assets,” Marwa said.
He added that the auction was a clear indication that criminals would not be allowed to enjoy proceeds generated from activities that cause harm to society.
“The message is clear: criminal proceeds will not be allowed to remain in the hands of those who seek to profit from the misery and destruction caused by illicit drugs,” he said.
Marwa assured Nigerians that the NDLEA would continue to strengthen its asset recovery efforts, pursue drug traffickers, dismantle criminal networks and ensure recovered assets are managed transparently and in line with the law.
The NDLEA said the process complied with the provisions of the Proceeds of Crime (Recovery and Management) Act, 2022, the Public Procurement Act, 2007, and other relevant regulations.
Representatives from the Independent Corrupt Practices and Other Related Offences Commission (ICPC), civil society organisations, auctioneers, the media and members of the public witnessed the exercise as part of measures to guarantee transparency.
The agency also disclosed that all assets were professionally valued by the Federal Ministry of Housing and Urban Development, while auctioneers involved in the process underwent due diligence and security screening to protect the integrity of the exercise.
The latest auction reinforces the Federal Government’s renewed push to target not only drug trafficking operations but also the wealth and infrastructure built from the proceeds of crime.
