The Economic and Financial Crimes Commission (EFCC) has disclosed that some of the property recovered from the former Petroleum Resources Minister, Mrs Diezani Alison-Madueke and forfeited to the Federal Government, will be auction soon.

EFCC acting Chairman, Ibrahim Magu disclosed this in Lagos at a press/ stakeholders’ briefings on the crusade against cybercrime and fraudsters.

According to the EFCC boss, the era of auctioning forfeited properties has gone, before any forfeited properties would be auction now, due process would be strictly follow, both local and international experts in the field would be invited to value each forfeited properties before it would be auctioned publicly.

He said that the process would kick off in Port Harcourt, River State with the auctioning of 242 trailers and tankers recovered from internet scammers.

Magu stated that the auctioning of forfeited properties in Port Harcourt had reached an advanced stage with the involvement of all the necessary stakeholders and experts who were supposed to have input or contribution to the process to make it transparent.

He expressed his displeasure at the process at which courts auction forfeited properties at giveaway prices. (Daily Sun)