2000 bidders struggle to buy FG recovered loots

About 2000 bidders have indicated interest to buy recovered looted properties from the sub committee of the Federal Government’s inter ministerial Committee on disposal of recovered federal government loots.

Speaking at opening ceremony of the bids on Thursday at the federal ministry of Justice, the Solicitor General of the federation and  Permanent Secretary federal ministry of Justice Dayo Apata (SAN), who also doubled as chairman of the inter ministerial committee explained that they have visited 25 sites across the country where the properties were located and identified them.

He said the committee has also carried out a proper valuation of the said properties in accordance with international best practices adding that their market prices are known.

Apata stated that based on the information gathered the committee has worked out a set of criteria for each of the lots which a bidder or auctioneer must meet to qualify.

He also said that all  the members of the committee and valuers who valued the properties have been  disqualified from participating in the bid.

He said that the property put up for sale are those already identified by the committee. According to him,  there are some other properties the committee  are yet to verify and valued because they were located in violence areas the committee could  not access.

He recalled that the Attorney General of the Federation and Minister of Justice, Abubakar  Malami (SAN), had on November 9, 2020 inaugurated the committee on the directive of  President Muhammadu Buhari to depose off properties that were recovered from looters.