EFCC’s asset auction plan sparks transparency concerns
The Economic and Financial Crimes Commission (EFCC) is facing criticism over its decision to auction seized vehicles through a platform it intends to manage itself. The Nigeria Association of Auctioneers, led by Benjamin Isibor, has accused the agency of bypassing established procedures and undermining transparency. The group argues that the EFCC’s dual role as both custodian and seller of assets could erode public trust. Concerns have also been raised about the abandonment of previous contractual agreements with certified auctioneers.
TLDR
- The EFCC plans to auction seized vehicles using a platform it will operate, drawing criticism from the Nigeria Association of Auctioneers.
- Benjamin Isibor insists the EFCC lacks the legal authority to act as both custodian and seller of recovered assets.
- The association claims the move violates due process and established asset disposal laws.
- Auctioneers say they previously built digital platforms for the EFCC under formal agreements, which now appear to be disregarded.
- The EFCC has not responded to the concerns raised by the auctioneers’ association regarding the planned sale.
