Nigeria: 398 Firms Bid to Evaluate Assets Forfeited to Govt

3 March 2021

A total of 398 estate surveyors and valuers have shown interest in evaluating assets finally forfeited to the federal government during the Request for Proposal (RFP).

Chairman of the Inter-ministerial Committee on Disposal of Forfeited Assets, Mr. Dayo Apata (SAN), who is also the Solicitor-General of the Federation and Permanent Secretary, Ministry of Justice, said yesterday in Abuja that out of the 398 estate valuers that indicated interest for the RFP, 355 submitted their bids while six firms were rejected.

He stated that the bid process was aimed at ensuring transparency and value for money.

"Upon the inauguration of the committee, we decided to have evaluation stages, in which all the assets will reflect the market value so that at the end of the day, the government will be selling or disposing of all the assets within the estimated value.

"So what we have done is to get experts in the field, and let them value the forfeited assets in conjunction with the Federal Ministry of Works and Housing to ensure value for money, transparency and accountability in every asset disposed of," he added.

Apata said after the evaluation, the committee would call in experts in conjunction with the Federal Ministry of Works and Housing to auction the assets.

The Attorney-General of the Federation and Minister of Justice, Mr. Abubakar Malami (SAN), had inaugurated the inter-ministerial committee on November 9, 2020.

The composition of the 22-man committee was earlier approved by President Muhammadu Buhari on October 27, 2020.

The committee was given six months to dispose of all assets that have been finally forfeited to the federal government.

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