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NDLEA auctions forfeited Lagos hotel, other properties for N6.15 billion <img width="1032" height="688" src="https://i0.wp.com/media.premiumtimesng.com/wp-content/files/2026/06/d2531492-fd8f-452b-b59c-bf2aa059a52a.jpeg?fit=1032%2C688&amp;ssl=1" class="webfeedsFeaturedVisual wp-post-image" alt="NDLEA auctions forfeited Lagos hotel, other properties for N6.15 billion" style="display: block; margin: auto; margin-bottom: 5px;max-width: 100%;" link_thumbnail="" decoding="async" srcset="https://i0.wp.com/media.premiumtimesng.com/wp-content/files/2026/06/d2531492-fd8f-452b-b59c-bf2aa059a52a.jpeg?w=1032&amp;ssl=1 1032w, https://i0.wp.com/media.premiumtimesng.com/wp-content/files/2026/06/d2531492-fd8f-452b-b59c-bf2aa059a52a.jpeg?resize=524%2C349&amp;ssl=1 524w, https://i0.wp.com/media.premiumtimesng.com/wp-content/files/2026/06/d2531492-fd8f-452b-b59c-bf2aa059a52a.jpeg?resize=768%2C512&amp;ssl=1 768w, https://i0.wp.com/media.premiumtimesng.com/wp-content/files/2026/06/d2531492-fd8f-452b-b59c-bf2aa059a52a.jpeg?resize=750%2C500&amp;ssl=1 750w" sizes="(max-width: 1032px) 100vw, 1032px" /><p>The NDLEA said the assets, located in Lagos and Ondo states, were among eight properties forfeited to t…

NDLEA auctions drug barons' assets for N6.1bn - Daily Nigerian Sign in Welcome! Log into your account Forgot your password? Get help Password recovery Recover your password A password will be e-mailed to you. News Newsletter NDLEA auctions drug barons’ assets for N6.1bn By Ibrahim Ramalan June 15, 2026 Share Facebook X Pinterest WhatsApp Must read Court orders INEC to deregister ADC, Accord, 3 others June 15, 2026 2027: ADC picks Amaechi as Atiku’s presidential running mate June 15, 2026 FAAC: Federal, state, local govts share N2.257trn April 2026 revenue June 15, 2026 Tinubu’s reforms: Rewriting Nigeria’s trajectory June 15, 2026 Ibrahim Ramalan Ibrahim Ramalan is a graduate of Mass Communications from the Ahmadu Bello University (ABU) Zaria. With nearly a decade-long, active journalism practice, Mr Ramalan has been able to rise from a cub reporter to the exalted position of an editor; first as Arts Editor with the Blueprint Newspapers before resigning in 2019; second and presently as an Associate Editor of the Daily Nigerian online newspaper. He can be reached via ibroramalan@gmail.com, or www.facebook.com/ibrahim.ramalana, or @McRamalan on Twitter. - Advertisement - The Nationa…

NDLEA Sells Drug Barons' Assets For N6.1bn, Sends Warning To Criminal ... Crime News June 15, 2026 Victor Oriola By Bukar BOLORI The National Drug Law Enforcement Agency (NDLEA) has dealt a major financial blow to drug trafficking syndicates, raising over N6.1 billion from the auction of properties confiscated from convicted drug kingpins across the country. The assets, which include a six-storey luxury hotel in Victoria Island, Lagos, and three other high-value properties, were forfeited to the federal government following court orders obtained under Nigeria’s asset recovery laws. The Victoria Island hotel accounted for the bulk of the proceeds, attracting a winning bid of N5.9 billion during a public auction conducted in Abuja on Monday. Altogether, four properties were successfully sold, while bids submitted for four others fell below the approved reserve prices and were consequently rejected. The exercise marked one of the most significant asset recovery auctions conducted by the anti-narcotics agency in recent years and underscores a growing determination by authorities to target not only drug traffickers but also the wealth accumulated from illicit activities. Announcing the…

Nigeria: NDLEA Sells Drug Barons' Assets for N6.1bn, Sends Warning to ... Abuja — The National Drug Law Enforcement Agency (NDLEA) has dealt a major financial blow to drug trafficking syndicates, raising over N6.1 billion from the auction of properties confiscated from convicted drug kingpins across the country. The assets, which include a six-storey luxury hotel in Victoria Island, Lagos, and three other high-value properties, were forfeited to the federal government following court orders obtained under Nigeria's asset recovery laws. The Victoria Island hotel accounted for the bulk of the proceeds, attracting a winning bid of N5.9 billion during a public auction conducted in Abuja on Monday. Altogether, four properties were successfully sold, while bids submitted for four others fell below the approved reserve prices and were consequently rejected. Keep up with the latest headlines onWhatsApp|LinkedIn The exercise marked one of the most significant asset recovery auctions conducted by the anti-narcotics agency in recent years and underscores a growing determination by authorities to target not only drug traffickers but also the wealth accumulated from illicit activities. A…

NDLEA Auctions Forfeited Drug Traffickers' Properties In Lagos, Others - Latest Nigeria News Nigeria Top News NDLEA Auctions Forfeited Drug Traffickers’ Properties In Lagos, Others The National Drug Law Enforcement Agency (NDLEA) on Tuesday 29th July 2025, conducted a public auction of forfeited houses which were either acquired through proceeds of drug trafficking or used as instrumentality of committing the crime.... By Kazeem Kasali July 29, 2025 7:33 PM GMT+1 The National Drug Law Enforcement Agency (NDLEA) on Tuesday 29th July 2025, conducted a public auction of forfeited houses which were either acquired through proceeds of drug trafficking or used as instrumentality of committing the crime. The exercise which took place at the Agency’s National Headquarters in Abuja had pre-qualified auctioneers, bidders, representatives of civil society organizations and the media as well as other government agencies in attendance. Speaking at the occasion, Chairman/Chief Executive of NDLEA, Brig. Gen. Mohamed Buba Marwa (Rtd.) who was represented by the Agency Secretary, Mr. Shadrack Haruna, said the exercise forms part of the Agency’s strategic efforts to dismantle drug trafficking netwo…

Hotel, 3 other properties forfeited by drug kingpins auctioned at N6 ... Hotel, 3 other properties forfeited by drug kingpins auctioned at N6.1bn-NDLEA News By Marvellous Gbadegesin On Jun 15, 2026 Hotel, 3 other properties forfeited by drug kingpins auctioned at N6.1bn-NDLEA Share …… It’s a clear message that cartels won’t be allowed to enjoy proceeds of their criminal trade, says Marwa A Lagos hotel and three other properties seized from drug kingpins by the National Drug Law Enforcement Agency (NDLEA) and forfeited to the Federal Government through court processes have been auctioned for the sum of Six Billion One Hundred and Forty-Eight Million Nine Hundred and Sixty-Four Thousand Naira (N6,148,964,000.00) only. This was the outcome of a competitive bid process for the sale of eight assets forfeited by drug barons in parts of the country. According to a statement issued by Femi Babafemi, NDLEA Director, Media & Advocacy, in Abuja on Monday said while bidders who offered above the reserved prices emerged winners of four of the listed properties, while bids for four others failed because none offered up to the reserved prices. Announcing the winning bids at the bid opening cerem…

NDLEA auctions drug barons' assets for N6.1bn | TheNewsGuru NDLEA auctions drug barons’ assets for N6.1bn By Reporter • Jun 15, 2026 • 4 min read The National Drug Law Enforcement Agency (NDLEA) has auctioned four properties forfeited by convicted drug traffickers for N6.1bn, with a six-floor hotel in Victoria Island, Lagos accounting for the bulk of the proceeds. Speaking at the event on Monday in Abuja, the NDLEA Chairman, retired Brig.-Gen. Buba Marwa, said the exercise underscored the Federal Government’s commitment to ensuring that criminals do not benefit from the proceeds of illicit activities. Marwa who was represented by the Agency Secretary, Mr Shadrach Haruna, said public auctions of forfeited assets served a broader national purpose beyond revenue generation. “Public auctions such as this serve a broader national purpose. “Beyond generating revenue for the Government, they reinforce public confidence in the rule of law, demonstrate accountability in the management of recovered assets. “They also send a clear message that criminal proceeds will not be allowed to remain in the hands of those who seek to profit from the misery and destruction caused by illicit drugs,” he …

NDLEA Auctions Lagos Hotel, 3 Other Drug-linked Properties For N6.1bn The National Drug Law Enforcement Agency (NDLEA) has has auctioned four properties forfeited by convicted drug traffickers to the federal government for a total of N6.149 billion. The auction, conducted through a competitive bidding process at the NDLEA headquarters in Abuja on Monday, saw a six-storey hotel located in Victoria Island, Lagos, attract the highest bid of N5.9 billion. Tope Ojo and Tunde Olonishakin Estate Firm emerged winner of the Victoria Island hotel with a bid of N5.9billion. FSS Limited secured a property located in Lekki Phase 1, Lagos, for N219.5 million, while A-BNB Global Innovations Limited won a block of flats in Ejigbo, Lagos, with a bid of N104 million. Fazeen Global Link Limited acquired a property in Akure, Ondo State, for N29.36 million. Head of the asset recovery and management unit of the Federal Ministry of Justice, Tamarantare Francis Ali-Bozi, announced the successful bidders. Speaking at the bid-opening ceremony, the chairman and chief executive of NDLEA, Brig. Gen. Mohamed Marwa (retd.), said the exercise underscored the federal government’s determination to ensure tha…