As the Economic and Financial Crimes Commission (EFCC) begins bid opening for the assets recovered by the commission as proceeds of corruption, the bids for 24 units of luxury flats located at Banana Island in the highbrow Ikoyi area of Lagos State have failed.
At the commencement of the bidding exercise held at the Convocation Square of the National Open University headquarters in Abuja, a bidder who turned in the highest bid of 13.1 billion naira was disqualified for failure to include the stipulated 10% of the bid amount.
Other bidders including the Nigerian Army Welfare Limited By Guarantee and the Lagos State Development and Property Corporation made offers of 2.4 billion naira and four billion naira respectively which according to the commission did not meet the preserve amount for the properties.
Consequently, the Secretary to the Commission, George Ekpungu announced a new date for the bidders to resubmit their bids.