NDLEA has auctioned a Lagos hotel and three other properties forfeited by drug kingpins to the Federal Government, generating N6,148,964,000.00. The sale followed a competitive bid process for eight assets seized from drug barons nationwide. Tope Ojo and Tunde Olonishakin Estate emerged winner of a six-floor Victoria Island, Lagos hotel with a N5.9 billion bid. FSS Limited won a Lekki Phase 1 property for N219.5 million, A-BNB Global Innovations Limited secured a block of flats in Ejigbo, Lagos for N104 million, and Fazeen Global Link Limited won an Akure, Ondo property for N29.36 million. Bids for four other properties failed as none met the reserve prices.
Announcing the results at NDLEA headquarters, Abuja, on Monday 15 June 2026, Head of Asset Recovery and Management Unit, Federal Ministry of Justice, Tamarantare Francis Ali-Bozi, confirmed the winning bids. NDLEA Chairman/Chief Executive Brig. Gen. Mohamed Buba Marwa (Rtd), represented by Agency Secretary Shadrach Haruna, said the auctions serve a broader purpose beyond revenue. He noted they reinforce public confidence in the rule of law, show accountability in managing recovered assets, and send a clear message that cartels will not enjoy proceeds of illicit drug trade.
Marwa reaffirmed NDLEA’s commitment to strengthening Nigeria’s asset recovery framework and ensuring assets are managed transparently for public benefit. He said the process complied strictly with the Proceeds of Crime Act 2022 and Public Procurement Act 2007, with all assets professionally valued by the Federal Ministry of Housing and Urban Development. Representatives of ICPC, civil society groups, auctioneers, and bidders witnessed the bid opening to enhance transparency, and all auctioneers were screened by BPP to ensure none had links to drug or criminal activity.
