The Economic and Financial Crimes Commission (EFCC) has acknowledged the “glitches” that marred the agency’s recent auction of vehicles.

 

The electronic auction of 891 forfeited vehicles through auctioneers took place from January 20 to 27 with over four million Nigeria recorded to have participated.

 

Participants in the auction complained of rigging, technical failures, bid manipulation, and lack of transparency.

 

They said bids reportedly vanished and the process seemed designed to favour select individuals.

 

Reacting in a statement on Thursday, Dele Oyewale, head of EFCC media and publicity, said complaints about the process and the auctioneers will be reviewed.

 

“Relevant departments of the commission monitored the exercise and can confirm that there were glitches,” he said.

 

“This observation was communicated to the auctioneers for remedial action. The Commission could, however, not directly intervene while the exercise was ongoing because the process had been assigned to duly accredited and licensed auctioneers in line with provisions of Sections 4(a)(b) of the Proceeds of Crime ( Recovery and Management) Act, 2022 and Section 55 of the Public Procurement Act, 2007.

 

“The complaints arising from the exercise are rather unfortunate and detracts from the plan of the Commission in settling for online auction which was designed to provide a platform for seamless and transparent participation by millions of Nigerians interested in purchasing the forfeited assets.”

 

Oyewale said the anti-graft agency will ensure that those who follow through the process without glitches and were winners will be allocated their vehicles.

 

“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. Those who follow through the process without glitches and emerged winners will certainly be allocated their vehicles,” he added.

 

“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.”