on Monday rejected an offer of N13.1 billion from a bidder for a forfeited property in Lagos State.
The statement said an unnamed bidder who turned in the highest bid of N13.1 billion for the property was disqualified for failure to include the stipulated 10 per cent of the bid amount.As a result of the development, the secretary to the commission, George Ekpungu, announced that fresh bids would be opened for the property in Lot 1.
He said occupants of the property for sale had the Right of First Refusal even as he vowed that the commission would ensure that former owners of the forfeited properties did not attempt to repurchase the assets by proxy. The Director Public Affairs of the commission, Osita Nwajah, read out the guidelines for the sale which among others, forbade members of staff of the commission and persons who had or are being prosecuted in respect of the assets from participating in the process.He said before any bid could be successful, it must be equal or be above the reserve price, while each bidder was expected to enclose a bank draft for 10 per cent of the bid amount.
Source: Real Estate Daily Report (realestatedailyreport.net)
The bidder deserves to be investigated to ascertain the legality of the funds
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