The National Drug Law Enforcement Agency, NDLEA, has suspended its bidding process for confiscated assets to a later date.
Speaking during the bidding process on Wednesday in Abuja, the Director, Planning Research and Statistics, Victoria Egbase, said that the criteria for the bids were not met.
She said that the bidding went far below the reserved price adding that the management would review and get back to the public.
According to her, none of the bidders met the conditions. The bidding goes far below the value placed on the property.
“This is inconclusive. The money paid would be returned, “she said.
Also, the Director, Proceeds and Crime Management Directorate, NDLEA, Haruna Kwetishe, said that the essence of the bidding was to ensure transparency.
Mr Kwetishe recalled that the Chairman, NDLEA, Buba Marwa, had earlier ordered a repeat of the bidding for seized property to accommodate more bidders and ensure greater participation by interested Nigerians.
Meanwhile, the Director, Proceeds and Crime, Independent Corrupt Practices and Other Related Offences Commission, ICPC, Kayode Adedayo, commended the agency for its transparency and openness.
Present at the bidding were members of the Civil Society Organisation, CSOs, Non-Governmental Organisation, NGOs, ICPC among others.
Five property in Abuja, Lagos, Anambra, Ondo and Adamawa states were set for public auctioning after securing final forfeiture from the drug barons.
NAN also reports that only one lot out of five went through the bidding process and none of them met the required criteria.
The bids were returned and NDLEA says it will communicate to the public of what decisions have been reached.