FIC Report (Lagos State) – The Economic and Financial Crimes Commission (EFCC) has pledged to review complaints regarding its recent public auction of forfeited vehicles, following reports of technical issues and participant dissatisfaction.
The commission acknowledged concerns raised by bidders, including difficulties accessing the auction website, being locked out after submitting bids, and reports of unusually high bid prices.
Addressing the situation, EFCC spokesperson Dele Oyewale stated on Thursday 30/01/2025 that the commission regrets the challenges experienced during the auction, which was meant to be a seamless and transparent process. He attributed the issues to the overwhelming participation—over four million bidders—and unstable internet services.
“The commission closely monitored the exercise, which took place from January 20 to 27, 2025, and observed certain glitches,” Oyewale said.
He added that the EFCC had communicated these concerns to the accredited auctioneers overseeing the process for necessary corrective action.
“The EFCC takes seriously the concerns of Nigerians who participated in the auction. Complaints ranged from website access issues to participants being shut out after bidding and concerns over inflated bid prices,” he said.
While the EFCC played a supervisory role in the process, Oyewale clarified that the auction itself was managed by licensed auctioneers in line with the Proceeds of Crime (Recovery and Management) Act, 2022, and the Public Procurement Act, 2007.
He assured the public that the commission is awaiting a report from the auctioneers and will ensure fairness by reviewing all legitimate complaints.
“Without making excuses for the auctioneers, the high volume of participants may have strained their online platforms, and unstable internet connections in some regions could have worsened the situation,” he said.
Oyewale also confirmed that successful bidders who did not experience issues would receive their vehicles as scheduled.
“The EFCC’s priority is to ensure the assets are disposed of in a transparent manner, ensuring maximum value for the nation. This commitment remains unwavering,” he added.
The auction, conducted by accredited auctioneers on behalf of the EFCC, was part of efforts to dispose of assets recovered from corruption, money laundering, and cybercrime cases.
However, the process was marred by complaints from bidders, many of whom took to social media to express frustration over technical issues, website lockouts, and unexpectedly high bid prices, raising concerns about the fairness of the exercise.
The EFCC has assured the public that it remains committed to addressing valid concerns and improving future auctions.
Signed
Oluwatoyin A. Ajibade
Principal Information officer
