Seized assets: 25 firms bid for valuation of Diezani, others’ jewelries, clothing

Twenty-five firms have bidded for the valuation of jewelries, ornaments and clothing materials forfeited to the Federal Government and meant for disposal.

Some of the seized/forfeited assets the 25 bidding firms are expected to value are 11 pieces of invisible bra, 30 pieces of braziers, 125 pieces of wedding gowns, 13 pieces of small gowns, 41 pieces of waist trainers, 73 pieces of hard flower, 11 pieces of suit, 73 pieces of veils, 17 pieces of magic skits, six packets of blankets, one table blanket and 64 pairs of shoes.

Some of the forfeited assets are owned by politically exposed persons, especially former Minister of Petroleum Resources, Mrs. Diezani Alison-Madueke; and the late Chief of Defence Staff, Air Chief Marshal Alex Badeh.

A Federal High Court in Lagos had in September 2019 ordered the final forfeiture of 2,149 pieces of jewellery worth $40 million belonging to Diezani.

According to the schedule attached to an application filed by the EFCC, the jewellery, include: 419 expensive bangles; 315 expensive rings; 304 expensive earrings; 267 expensive necklaces; 189 expensive wristwatches; 174 expensive necklaces and earrings; 78 expensive bracelets; 77 expensive brooches and 74 expensive pendants.

Of the 613 estate valuers that submitted bids to the Inter-Ministerial Committee on Disposal of Forfeited Assets, 284 firms bidded for valuation of developed landed properties, both residential, commercial, institutional and underdeveloped plots of lands for disposal.

Also, the committee received 229 bids for the valuation of plants, machinery, motor vehicles, furniture and equipment for disposal while 75 companies bidded for valuation of water vessels for disposal.

The assets were seized by the Federal Government through the anti-graft agencies while the court gave the order for the forfeiture.

According to the committee, 1,620 items have been marked for evaluation before they are eventually sold.

The bulk of these seized assets are exotic apartments, highbrow houses, landed properties, vehicles and others spread across 25 locations in the country.

The inter-Ministerial Committee on the disposal of assets forfeited to the Federal Government had on Friday October 22 held a ballot picking exercise for 613 independent valuers in Abuja

The Chairman of the committee, Mr. Mohammed Etsu, said that the assets disposal process anchored on transparency and accountability, was in line with international best practices.

While emphasising the need for efficient management of the recovered assets, Etsu stressed the committee’s determination to promote a harmonized and transparent procedure to safeguard the recovered assets by relevant agencies, in line with Federal Government’s anti-corruption drive.

According to him, the sub-Committee in charge of valuation and due process carried out the technical evaluation of the bids received from interested estate surveyors that indicated interest in the disposal of the forfeited Federal Government assets.

“A total of 613 proposals for the consultancy services were received at the expiration of the deadline for submission of bids.

“The Inter-Ministerial Committee on Disposal of Forfeited Assets adopted competitive bidding for the engagement of consulting estate surveyors and valuers for the valuation of forfeited assets.

“Accordingly, 284 bidded for valuation of developed landed properties, both residential, commercial, institutional and underdeveloped plots of lands for disposal.

“Valuation of plants, machinery, motor vehicles, furniture and equipment for disposal received 229 proposals while 75 companies bidded for valuation of water vessels for disposal.

“25 companies bided for valuation of jewelries, ornaments and clothing materials for disposal,” he said.

Mohammed, who is also the Solicitor-General of the Federation, however, noted that only clothing materials were available for valuation at the moment, because jewelries were still subjected to litigation.

He reminded the successful valuers of the need to exhibit professionalism and ensure efficient and expedient valuation of all Federal Government forfeited assets.

On her part, Hajiya Ladidi Mohammed, Head, Assets Recovery and Disposal Unit, Office of the Attorney General of the Federation, said that the procedure of selection was quality based method.

Mohammed, who is also the Secretary of the Inter Ministerial Committee, said that the consultancy fee would be based on agreed percentage from the proceeds of the disposed assets.

The Inter-Ministerial Committee for the Disposal of Federal Government’s Forfeited Assets was inaugurated on November 2020.