Auctioneers demand probe of MDAs’ asset disposal process

The Nigeria Auctioneers Association (NAA) has accused government ministries, departments and agencies of taking over the roles of licensed auctioneers when disposing of seized and public assets, which allegedly violates due process. According to the association's National President, Musa Kurra, this practice has led to the waste of billions of naira worth of assets and undermined transparency in the management of public property.

The NAA specifically criticized the Nigeria Customs Service for bypassing the statutory framework for the disposal of seized assets and creating an illegal internal auction structure. Kurra argued that if someone wants to become an auctioneer, they can do so independently, but a public official cannot simultaneously be an auctioneer, which is what is happening in many cases.

The association has documented instances of valuable assets being sold for significantly less than their actual value, such as 338 vehicles sold for just N3.38 million, or around N10,000 per vehicle. Kurra also alleged that some importers discovered their properties had been disposed of without their knowledge, after having already paid duties on them. The NAA president urged President Bola Tinubu to investigate these claims.