The Economic and Financial Crimes Commission (EFCC) of Nigeria recently organized an online auction for vehicles that were subject to final forfeiture orders, providing Nigerians the opportunity to purchase these cars at cheap rates. The auction, which was supposed to be a transparent process, has instead become the center of controversy as several participants have come forward with allegations of manipulation and unfair practices.
The auction, which took place on January 27, 2025, for about 891 forfeited vehicles, was facilitated through various auctioneers across the country to make the process accessible nationwide. However, the event has been marred by claims that top bidders were allegedly replaced, casting a shadow over the EFCC’s commitment to transparency in the disposal of forfeited assets.
Several individuals took to X (formerly known as Twitter) to express their frustrations and share their experiences. One user, @Dan_Momoh, detailed his experience, saying, “Dear @officialEFCC it’s a pity that you & your auctioneer cheated us out a legitimate process we engaged in yesterday where I won 4 four different vehicles namely: Toyota Venza – 2,670,000 – Lexus ES350 – 2,000,000 – Lexus IS250 – 2,520,000 – Toyota – Camry – 1,500,000”. This post highlights the disappointment felt by participants who believed they had legitimately won bids only to find their victories nullified.
Another participant, @Chizytelu, shared a similar ordeal, tweeting, “I’ve just seen magic happen right before my eyes. A C300 with lot number ADC/BEN/AU/98 that I bid on and won at N5,570,001 just vanished from the auction site. @officialEFCC una well done.” This statement underscores the sudden and unexplained disappearance of won bids from the auction platform, suggesting a lack of transparency.
Frustration was also evident in the tweet from @sama on_point, who accused the auction process of being rigged, stating, “The auction you conducted yesterday was a sham! In a bid to rig the system, the incompetent auctioneers you engaged allowed a bid of N350,000,000,000 for a Lexus RX 350 Jeep. It’s not a glitch. It’s a deliberate attempt to gate-keep others from bidding.” The mention of an extraordinarily high bid raises questions about the integrity of the bidding process, suggesting that some bids were inflated to discourage genuine participation.
The situation has sparked a debate on the effectiveness and honesty of the EFCC’s auction system. While the commission aimed to adhere to legal frameworks such as the EFCC (Establishment) Act, 2004, the Public Procurement Act, 2007, and the Proceeds of Crime (Recovery & Management) Act, 2022, the actual execution of the auction seems to have fallen short of these standards.
The number of individuals affected by the removal or replacement of top bidders remains unclear, but the voices on social media suggest that it was not an isolated incident. The EFCC has yet to issue a public statement addressing these allegations, leaving many participants and observers waiting for a response that could either refute or confirm these claims of auction manipulation.
This incident not only questions the transparency of the EFCC’s auction process but also highlights the need for stronger oversight mechanisms to ensure fairness and integrity in public asset disposal. The public’s trust in the EFCC’s ability to conduct such processes without bias or corruption is at stake, calling for immediate action to restore credibility.
