FG auctions Lagos hotel, 3 properties forfeited by drug lords at N6.1bn

By Kingsley Omonobi
The Federal Government has auctioned a Lagos hotel and three other properties seized from drug kingpins by the National Drug Law Enforcement Agency, NDLEA, and forfeited to the agency, through court processes, for the sum of N6.148 billion. 
Director of Media and Advocacy of the agency, Femi Babafemi, who made the disclosure yesterday, said: “This was the outcome of a competitive bid process for the sale of eight assets forfeited by drug barons in parts of the country. 
“While bidders, who offered above the reserved prices emerged as winners of four of the listed property, bids for four others failed because none offered up to the reserved prices.”
Announcing t...