Forfeited Assets: FG screens 613 independent valuers for bidding process

“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.


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

The Chairman of the committee, Mr. Mohammed Etsu has 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 Chairman of the Media Committee, Mr David Ugolor, solicited for the cooperation of the media and the independent valuers as crucial to a successful conduct of the activity.

Ugolor said: “I am imploring the media and all independent valuers participating in today’s event to accord their maximum cooperation, to ensure that this is conducted with utmost transparency.

“While appreciating the efforts and dedication of the Inter-Ministerial Committee members, as well as the secretariat, I enjoin the qualified independent valuers present today to execute the process with dedication and sincerity, for a better Nigeria.

“In the same vein, I also implore all media present to report based on ethical principles to ensure that all eligible participants are given equal opportunity through the ballot system,” he said.

Ugolor stressed that the objective of the assignment was to ensure and promote proper coordination of the disposal of the Federal Government assets in a uniformed, harmonised and transparent manner,” he said.

The News Agency of Nigeria (NAN) recalled that the Inter-Ministerial Committee for the Disposal of Federal Government’s Forfeited Assets was inaugurated on Nov. 2020.

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