The Independent Corrupt Practices and Other Related Offences Commission (ICPC) received widespread praise from auctioneers for the transparency of its 2024 asset disposal exercise.
Held at the ICPC headquarters in Abuja, Thursday’s balloting process brought together forty auctioneers, with twenty-six successfully acquiring government-seized assets.
The disposal exercise, overseen by the Proceeds of Crime (Recovery and Management) Department (POCD) of ICPC, involved the auctioning of various assets forfeited by individuals found guilty of corrupt practices. These assets included land plots, buildings, and vehicles across multiple states.
During the opening address, Mr. Michael Agboro, FCA, Acting Director of POCD, emphasized the importance of integrity in the process. “A total of one hundred and nineteen companies submitted expressions of interest,” Mr. Agboro noted, adding that “more than half have fallen by the way” due to not meeting ICPC’s strict requirements.
Mr. Agboro reminded auctioneers of their role in upholding the values of the Commission, stating, “You are partners with the Commission to ensure that the government gets value for forfeited assets. The assets were seized from those who stole from the common heritage, so you are to sell these assets so that the government can recoup what they stole.”
The balloting exercise involved participants drawing ballots from a box, a process that allowed winners to display their selections to the audience and ICPC officials. The successful auctioneers were able to view photos of the assets they won, with items displayed alongside the results. Of the twenty-six assets awarded, they included four moveable assets based in Abuja, while the remaining assets were located in various states such as the Federal Capital Territory (FCT), Gombe, Nasarawa, Akwa-Ibom, Ekiti, Kaduna, Sokoto, and Rivers.
The event concluded with winners signing a register against their company names, a step symbolizing their acceptance and commitment to uphold the ICPC’s objectives in asset disposal. The transparent process was applauded by participants, with auctioneers commending the Commission’s dedication to integrity and transparency.
