The Economic and Financial Crimes Commission (EFCC) has refuted allegations of irregularities in its recently concluded car auction, following complaints from bidders over what they described as a lack of transparency and fairness in the process.
The auction, which took place between January 20 and January 27, 2025, saw numerous bidders expressing frustration on social media, alleging that winning bids were changed and that the auction platform experienced suspicious glitches. Some bidders reported that bid amounts skyrocketed to as much as N330 billion for mid-range Lexus SUVs, leading many to suspect manipulation.
One bidder, identified as Daniel Momoh, shared his grievances on X.com, claiming that despite winning bids for four vehicles, his name was removed from the auction list, and he was denied access to the platform. Another bidder, @Kennylekel, alleged that the EFCC’s auction website displayed an error message just minutes before bidding ended, raising suspicions of deliberate interference.
Similar accusations were echoed by multiple users, with claims that cars were pre-allocated to insiders and that some bidders deliberately inflated prices to prevent genuine buyers from winning. A user, @BaronElSama, stated, “In a bid to rig the system, the incompetent auctioneers you engaged allowed a bid of N350 billion for a Lexus RX 350 Jeep. It’s not a glitch. It’s a deliberate attempt to gate-keep others from bidding.”
In response to these allegations, EFCC spokesperson Dele Oyewale distanced the agency from the auction process, insisting that the sales were conducted by government-licensed auctioneers without interference from the commission. He suggested that some bidders may have intentionally submitted outrageous bids to disrupt the process.
“It is between the auctioneers and the bidding public. We did not interfere in any of the processes at all,” Oyewale stated, adding that anyone with evidence of compromise should present it for investigation. He emphasized that even his close associates could not influence the outcome of the auction.
The controversy comes after the EFCC announced the auctioning of over 850 forfeited vehicles across various locations in Nigeria. The vehicles, ranging from luxury brands to mid-range Toyota Camrys, were seized during investigations into financial crimes such as money laundering, corruption, and cybercrime.
According to the EFCC, the auction was conducted in compliance with the EFCC (Establishment) Act, 2004, the Public Procurement Act, 2007, and the Proceeds of Crime (Recovery & Management) Act, 2022. The commission had earlier assured the public that the process would be fair and transparent.
Despite EFCC’s reassurances, bidders remain skeptical, calling for a thorough investigation into the auction’s alleged irregularities. As the fallout continues, stakeholders are demanding greater oversight in future auctions to prevent potential abuses and restore public confidence in the process.
