EFCC faces credibility questions over asset auction
The Economic and Financial Crimes Commission EFCC is under scrutiny for its plan to directly manage the auction of seized vehicles. The Nigeria Association of Auctioneers argues that this approach undermines transparency, accountability, and due process, creating a conflict of roles for the anti-graft agency. Benjamin Isibor, President of the association, stated that the EFCC lacks the legal basis to act as both custodian and seller of assets recovered from suspected criminals, citing a similar issue during former EFCC Chairman Ibrahim Magu's tenure. Isibor emphasized that certified auctioneers are better equipped to ensure a credible and open disposal process. The association also questioned why existing contractual arrangements with auctioneers, who invested in building digital platforms for previous auctions, appear to have been abandoned. They argue that the planned arrangement violates established legal principles, including the Due Process Act and the POCA law, neither of which permits the commission to sell assets by itself. The EFCC has not yet responded to these concerns.
