The Economic and Financial Crimes Commission is facing fresh scrutiny over its decision to auction seized vehicles through a platform it plans to manage, with the Nigeria Association of Auctioneers accusing the anti-graft agency of undermining transparency, accountability and due process in the disposal of forfeited assets.

The association argued that allowing the EFCC to investigate financial crimes, seize assets, retain custody of them and also oversee their sale creates a conflict of roles that could erode public confidence in Nigeria’s asset recovery process.

Speaking with The PUNCH on Tuesday, the President of the Nigeria Association of Auctioneers, Benjamin Isibor, maintained that the commission has no legal basis to act as both custodian and seller of assets recovered from suspected criminals.

According to him, the association had opposed a similar move during the tenure of former EFCC Chairman, Ibrahim Magu.

“The EFCC is now trying to act as a custodian and seller of assets, which is totally unlawful,” Isibor said. “This same issue happened during former EFCC chairman Ibrahim Magu. Magu said he was going to bring in foreigners to sell these assets, but it was stopped after our outcry.”

He added that the commission’s multiple roles in the asset recovery process raise concerns about transparency.

“The EFCC are the ones who prosecute, seize these assets, and now want to play as custodian of the assets. They have seized these items as proceeds of crime, and at the same time, they want to set up platforms to sell them. We are completely against this process when there are reputable and certified auctioneers qualified to carry out the job,” he said.

Isibor argued that licensed auctioneers are better positioned to ensure credibility, openness and public confidence in the disposal process.

“We would stand in the gap for our government and the general public to ensure that the process is seamless and transparent,” he added.

Although the association said it had yet to establish the exact number of vehicles earmarked for the exercise, it noted that the EFCC recently took possession of a fleet of vehicles linked to businesswoman Aisha Achimugu as part of an ongoing investigation.

While the commission has not disclosed the value of the recovered vehicles, they are believed to be worth several billions of naira, given the luxury brands reportedly involved. The EFCC has also not indicated whether all or only part of the fleet will be included in the proposed auction.

Isibor further questioned why the commission appeared to be abandoning existing arrangements with licensed auctioneers after they had invested heavily in developing digital auction platforms.

“We have done this process with them in the past where they engaged the services of auctioneers,” he said. “Some auctioneers were contracted to build auction portals and invested significant resources in developing systems that would work.

“It is surprising that, after committing people to expend resources, the EFCC is now saying it wants to conduct the process itself. That is illegal.”

He also argued that the planned arrangement contravenes established legal principles governing the disposal of forfeited assets.

“The Proceeds of Crime Act does not say the commission should sell the assets by itself. Neither the Due Process Act nor other relevant laws authorise the commission to do so. Why then should it sell the assets itself? That is our challenge,” he said.

The association also questioned why previous contractual arrangements with auctioneers appeared to have been abandoned without explanation.

“We saw the advert for the auction and we are concerned as stakeholders that due process must be followed irrespective of whose ox is gored. An agency established to uphold the law should not be seen acting contrary to it,” Isibor added.

A former National President of the association, Alhaji Musa Kurra, said concerns had already been raised within the industry over the proposed exercise.

“Yes, I have heard complaints about the latest auction announced by the EFCC. In everything, you will always find people trying to circumvent the process for personal benefit,” he said.

Over the years, the EFCC has disposed of forfeited assets, including houses, vessels and vehicles, through public auctions conducted by independent auctioneers after obtaining final forfeiture orders from the courts. Such sales are intended to prevent recovered assets from deteriorating while ensuring proceeds are remitted to the Federal Government.

The latest dispute centres on whether the anti-graft agency should directly manage the auction process or continue relying on independent, licensed auctioneers in line with established procurement and asset disposal procedures.

As of the time of filing this report, the EFCC had not responded to the concerns raised by the auctioneers’ association. Calls, text messages and WhatsApp messages sent to the commission’s spokesperson, Dele Oyewale, were not returned.