Forfeited Assets: ICPC Begins Financial Bid Opening of Disposable Assets, Assures Transparency

The Independent Corrupt Practices and Other Related Offences Commission (ICPC) has held the financial bid opening exercise for this year’s planned disposal of assets forfeited to the Federal Government.

In his opening remark at the bid opening event, ICPC Chairman, Prof. Bolaji Owasanoye SAN, OFR commended the auctioneers for their cooperation and assured them that the Commission would not renege on its pledge to ensure a fair and transparent process.

The Commission’s boss, who was represented by Dr. Louis S. Mandama, mni, a Board member, noted that the exercise was the first for 2023 and promised that the second exercise will hold in the second half of the year.

Prof. Owasanoye stated that the mode of allocation of assets in the current stage will be different as there would be no batching of assets as auctioneers would be allowed to go and take a look at the assets while working with the technical team in order to evaluate them.

He went further to say that complaints received from the five bidders after the broadcast of results on the Commission’s website had been addressed.

At the commencement of the exercise, the bids submitted were sorted, marked and observed closely as the opening of the bids revealed the number of properties bided for and its cost which were certified by the auctioneers.

Speaking after the event, the representatives of Bureau of Public Procurement (BPP), Alhaji Bello Nasir, and the representative of the Civil Society Organisations (CSO), Mr. Paul Odokara expressed satisfaction with the transparent nature of the exercise hoping that its outcome would certainly meet the criteria set for the bidding.

They also advised other agencies to take a cue from ICPC, and charged the auctioneers on the need to adhere to instructions for easy identification of their bids to avoid any disqualification.

The exercise, which was held at the Commission’s headquarters, had twenty-five auctioneers in attendance.