The Economic and Financial Crimes Commission (EFCC) is facing criticism following widespread complaints from Nigerians over the recent public auction of forfeited vehicles.
Participants have accused the process of being riddled with technical difficulties, exclusionary tactics, and excessive bidding prices, raising concerns about the transparency of the exercise.
Despite monitoring the process, the EFCC claimed it could not intervene directly as the auction was handled by accredited auctioneers.
Several bidders reported being unable to access the auctioneers’ websites, while others were allegedly locked out after placing their bids.
The Commission admitted that “glitches” were observed but stopped short of taking responsibility, instead attributing the failures to technical limitations and the high number of participants—reportedly over four million.
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However, critics argue that the EFCC failed to properly oversee the auction, allowing the auctioneers to operate without adequate safeguards.
This is not the first time the EFCC has come under scrutiny over asset disposals. Transparency advocates have long questioned the Commission’s handling of forfeited assets, with concerns over irregularities and opaque dealings.
While the EFCC insists that the auction was designed to be “seamless and transparent,” the volume of complaints suggests otherwise.
The Commission’s justification that online platforms were overwhelmed does little to address fears that some bidders may have been unfairly shut out or manipulated.
In response, the EFCC has pledged to review complaints from affected participants and ensure that those who won bids without issues receive their vehicles.
However, critics argue that a mere review is insufficient and are calling for a full-scale audit of the auction process.
With public confidence at stake, the EFCC must prove that its asset disposal processes are indeed fair and not another avenue for exploitation.
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