By using this site, you agree to the Privacy Policy and Terms & Conditions.
Accept
Okay.ngOkay.ngOkay.ng
Font ResizerAa
  • News
    • Politics
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Reading: EFCC Acknowledges ‘Glitches’ in Forfeited Vehicle Auction, Promises Review
Share
Font ResizerAa
Okay.ngOkay.ng
  • News
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Search
  • News
    • Politics
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Follow US
  • About Okay.ng
  • Advertising on Okay.ng
  • Contact Okay.ng
  • Careers
  • Meet the Team behind Okay.ng
  • Ownership and Funding of Okay.ng
  • Editorial Principles at Okay.ng
© OKN MEDIA PUBLISHING 2022 - All rights reserved
News

EFCC Acknowledges ‘Glitches’ in Forfeited Vehicle Auction, Promises Review

Muhammad A. Aliyu
By Muhammad A. Aliyu
Published: January 30, 2025
Share
3 Min Read
SHARE

The Economic and Financial Crimes Commission (EFCC) has admitted that the recent electronic auction of forfeited vehicles was marred by technical glitches, following widespread complaints from participants.

The auction, which ran from January 20 to 27, saw over four million Nigerians take part in bidding for 891 forfeited vehicles. However, many participants expressed frustration over alleged bid manipulation, technical failures, and a lack of transparency.

Complaints surfaced on social media, with some bidders alleging that their offers mysteriously disappeared, while others claimed the process seemed skewed in favour of select individuals.

Reacting to the backlash, Dele Oyewale, head of EFCC media and publicity, issued a statement on Thursday acknowledging the flaws in the process.

- Advertisement -

“Relevant departments of the commission monitored the exercise and can confirm that there were glitches,” Oyewale said.

“This observation was communicated to the auctioneers for remedial action. The Commission could, however, not directly intervene while the exercise was ongoing because the process had been assigned to duly accredited and licensed auctioneers in line with provisions of Sections 4(a)(b) of the Proceeds of Crime (Recovery and Management) Act, 2022 and Section 55 of the Public Procurement Act, 2007.”

The EFCC spokesperson described the technical issues as “unfortunate,” saying they undermined the agency’s intent to conduct a fair and transparent auction.

“The complaints arising from the exercise are rather unfortunate and detract from the plan of the Commission in settling for online auction, which was designed to provide a platform for seamless and transparent participation by millions of Nigerians interested in purchasing the forfeited assets,” he added.

- Advertisement -

Oyewale assured that all legitimate complaints would be reviewed to ensure that no bidder was unfairly treated.

“The commission is currently awaiting the report of the auctioneers and assures that genuine complaints by members of the public will be reviewed to ensure that no one is short-changed in the exercise,” he said.

He also noted that successful bidders who completed the process without any issues would be allocated their vehicles.

“The commission’s only interest in the public auction is to ensure that the assets are disposed of in the most transparent manner and that the nation gets value for the assets. This cannot be compromised under any circumstance.”

Stay Updated on the Go with Our Latest News—Join Our WhatsApp Channel Now!
TAGGED:EFCCEFCC Auction
Share This Article
Facebook Whatsapp Whatsapp Telegram Email Copy Link Print
ByMuhammad A. Aliyu
Follow:
Muhammad Ameer Aliyu, is a prolific journalist who joined Okay Nigeria in 2015 with the aim staying committed to bringing more positive growth to the digital news platform. He is the Senior Editor at Okay Nigeria.
Previous Article Muyiwa Adejobi 1,519 Stolen Vehicles Recovered Via e-CMR Platform in 2024 – Police
Next Article US Grants Emergency Waiver to Continue HIV Treatment Funding in Nigeria, 54 countries

Connect with Okay on Social

FacebookLike
XFollow
InstagramFollow
TelegramFollow

Dollar/Naira Rates

Dollar to Naira Exchange Rate

Okay.ng Logo
Buy Rate ₦1,605.00
Sell Rate ₦1,620.00

Last updated: 4 days ago (June 3, 2025 2:33 pm)

Displayed rates are for informational purposes only and are subject to change.

USD/NGN Converter

- Advertisement -
- Advertisement -
Ad imageAd image
- Advertisement -
Ad imageAd image

Recent Posts

Tinubu Urged by PDP to Cut Fuel and Electricity Costs Amid Eid-el-Kabir Festivities
News
Mike Ejeagha
Mike Ejeagha, Nigerian Highlife Maestro, Dies at 95
News
Tinubu Welcomes Gov Eno to APC as Political Realignments Intensify Across States
Politics Top stories
Super Eagles Rally to Draw Against Russia in International Friendly
Sport
Manchester United Raises Annual Core Profit Forecast to Between £180m and £190m After Europa League Boost
Sport
- Advertisement -
Ad imageAd image

You May Also Like

Ange Postecoglou
Sport

Tottenham Hotspur Part Ways with Ange Postecoglou Despite Europa League Glory

Yusuf Abubakar
Yusuf Abubakar
June 6, 2025
News

Dangote Names Main Refinery Access Road “Bola Ahmed Tinubu Road” in Honor of President

Muhammad A. Aliyu
Muhammad A. Aliyu
June 6, 2025
L-R: Ify Okoye, Digital Creator; Linda Ejiofor-Suleiman, Actress; Stella Erebor, Head Internal Audit, Nigerian Communications Commission; Emanuella Samuel, Comedienne/Actress, Sylvia Musalagani, Safety Policy Manager, Africa, Middle East & Turkey (AMET), Meta, and Nicole Chikwe, founder of The Mummy Summit, during the launch of Instagram teen accounts in Lagos on Wednesday, June 4, 2025
Tech

Meta Launches Teen Accounts on Instagram in Nigeria to Enhance Online Safety for Young Users

Farouk Mohammed
Farouk Mohammed
June 6, 2025
Okay.ngOkay.ng
Follow US
© OKN MEDIA PUBLISHING 2025 - All rights reserved
  • About Okay.ng
  • Advertising on Okay.ng
  • Contact Okay.ng
  • Careers
  • Meet the Team behind Okay.ng
  • Ownership and Funding of Okay.ng
  • Editorial Principles at Okay.ng
adbanner
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?