The Edo State office of the Economic and Financial Crimes Commission (EFCC) has auctioned 20 exotic vehicles forfeited by government officials and fraudsters in Benin City.
Speaking with journalists during the auctioning, a member of the commission’s Assets Recovery Committee, Ola Orji, described the exercise as transparent.
He said, “These vehicles we are disposing of today are forfeited items by government officials and fraudsters. The vehicles were bought with money stolen from the government and individuals.
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“The essence of the auction is to recoup the stolen money by selling the forfeited assets and the money would be returned to government, institutions and individuals where the monies were stolen from; that is what the court says.
“The government’s own money would be paid to the Central Bank of Nigeria (CBN) and the others would be returned to individuals and institutions where the money was stolen from.”