SUNTV Global Channel | June 15, 2026
The National Drug Law Enforcement Agency (NDLEA) has generated over ₦6.1 billion from the auction of properties confiscated from convicted drug traffickers across Nigeria, marking one of the agency’s biggest asset recovery exercises in recent years.
Among the assets sold was a six-storey luxury hotel located in Victoria Island, Lagos, alongside three other forfeited properties. The assets were permanently seized following court orders and transferred to the Federal Government under Nigeria’s proceeds of crime laws.
According to a statement issued by NDLEA spokesperson, Femi Babafemi, the auction followed a competitive bidding process involving eight properties recovered from convicted drug barons in different parts of the country.
At the bid-opening ceremony held at the NDLEA headquarters in Abuja on Monday, officials announced that four properties attracted successful bids exceeding their reserve prices, while four others failed to meet the required valuation benchmarks.
The biggest sale was the Victoria Island hotel, which was acquired for ₦5.9 billion by Tope Ojo and Tunde Olonishakin Estate Firm.
Other successful transactions included:
- A property in Lekki Phase 1, Lagos, sold to FSS Limited for ₦219.5 million.
- A block of flats in Ejigbo, Lagos, purchased by A-BNB Global Innovations Limited for ₦104 million.
- A property in Akure, Ondo State, secured by Fazeen Global Link Limited for ₦29.36 million.
The total proceeds from the successful sales amounted to ₦6,148,964,000.
Representatives from the Independent Corrupt Practices and Other Related Offences Commission (ICPC), civil society groups, auctioneers, bidders, and other stakeholders witnessed the exercise to ensure transparency and accountability.
Speaking during the event, NDLEA Chairman and Chief Executive Officer, Brigadier General Mohamed Buba Marwa (Rtd.), represented by the Agency Secretary, Shadrach Haruna, said the auction sends a strong message that proceeds from criminal activities will not remain in the hands of offenders.
He emphasized that the agency remains committed to dismantling drug trafficking networks, recovering illicit assets, and enforcing the rule of law without fear or favour.
Marwa further stated that all assets auctioned were professionally valued by the Federal Ministry of Housing and Urban Development and that strict due diligence was carried out on all participating auctioneers to safeguard the integrity of the process.
The NDLEA described the auction as part of its broader strategy to strengthen public confidence in law enforcement while ensuring that assets linked to criminal activities are put to legitimate use for the benefit of the nation.
