The Economic and Financial Crimes Commission on Monday commenced the auction of seven cars, which were subjects of final forfeiture orders, with inspection of the items by members of the public in Ilorin, Kwara State Capital.

The items to be auctioned are Lexus IS350 2007 model, Toyota Venza 2010 model, white Mercedes Benz 2007 model, gold Porche 2005 model, red Toyota Camry 2008 model, grey Honda Accord 2007 model, and ash Toyota Camry 2009 model.

The cars' pictures were conspicuously displayed with allocated lot numbers for public inspection at No 11, Catchment Road, Adjacent Noktel Hotel, GRA, Ilorin to provide an opportunity for interested bidders to view and indicate interest in any car of their choice.

Speaking briefly before the inspection, the Zonal Commander, Ilorin Zonal Command of the EFCC, Michael Nzekwe, said the auctioning was being conducted in conjunction with the Bureau of Public Procurement to ensure compliance with all extant laws.

He explained that the exercise, which was a continuation of the auction scheduled to take place across the Commands of the Commission, was done in line with the EFCC (Establishment) Act 2004; Public Procurement Act 2007, and the Proceeds of Crimes (Recovery and Management) Act 2022.

According to him, the cars would be auctioned tomorrow, Tuesday, December 20, 2022, based on assessed values and an open bidding system.

“The exercise is going to run for 2 days, that is today and tomorrow. We have seven vehicles for auction as you can see. The process is that you inspect the items to make a choice and then come back tomorrow for the bidding. The item goes for the highest bidder, and the winner will have to make payment within 48 hours.

“Let me also add that, you don't have to know anybody to participate in the auction. The EFCC has no interest in this process. That is why we brought auctioneers from Bureau for Public Procurement, BPP, and we are on ground to supervise what they are doing, while Nigerians also supervise what we are doing as EFCC, to check the process and make sure that everything is transparent,” Michael stated.

He appealed to members of the public interested in the auction to listen carefully to the auctioneers and comply with all stipulated guidelines for a seamless auction.

Also speaking, the auctioneer, Jerome Itepu, Executive Director, Trevamtech K & G Limited, assured members of the public that the process would be open and transparent.

He charged the bidders to be disciplined and follow the approved guidelines for a seamless auction.

The inspection process, which was conducted under a very tight security arrangement, witnessed a large turnout of people and was monitored by members of the public, including the NGOs and the press.