The Economic and Financial Crimes Commission has assured the public that it will review concerns raised over its recent online auction of forfeited vehicles.
The commission acknowledged complaints from participants regarding website accessibility issues, abrupt disconnection from bidding platforms, and unusually high bid prices.
EFCC spokesperson, Dele Oyewale, in a statement on Thursday, described the complaints as “unfortunate,” emphasizing that the auction was designed to be a fair and transparent process.
“The online auction platform was intended to ensure seamless and transparent participation, but challenges such as over four million participants and unstable internet services affected the process,” he said.
The auction, conducted by accredited auctioneers between January 20 and 27, 2025, was monitored by the EFCC. Oyewale confirmed that technical glitches were observed and had been reported to the auctioneers for necessary corrections.
“Among the complaints received by the commission were the inability of some citizens to access the websites of the auctioneers, being shut out from the platforms after submitting bids, and outrageously high bid prices, among others,” he stated.
While the EFCC supervised the exercise, it clarified that the process was handled by licensed auctioneers in compliance with the Proceeds of Crime (Recovery and Management) Act, 2022 and the Public Procurement Act, 2007.
“The commission is currently awaiting the report of the auctioneers and assures that genuine complaints by members of the public will be reviewed to ensure that no one is short-changed in the exercise,” Oyewale said.
Despite the controversy, the EFCC maintained that successful bidders who faced no issues would still receive their vehicles as scheduled.
“The commission’s only interest in the public auction is to ensure that the assets are disposed of in the most transparent manner and the nation gets value for the assets. This cannot be compromised under any circumstance,” he affirmed.
The auction, intended to dispose of assets recovered from corruption, money laundering, and cybercrime cases, sparked backlash from bidders who voiced their dissatisfaction online. Many complained about being locked out of the auction websites, experiencing glitches, and facing unexpectedly high bids.
The EFCC has urged patience while awaiting the auctioneers’ report and has reiterated its commitment to fairness in the disposal of recovered assets.
