Breaking News: EFCC and Bidders Clash Over Car Auction

The Economic and Financial Crimes Commission (EFCC) has addressed concerns raised by protesting bidders regarding alleged irregularities in a recent car auction conducted across the country.

This follows the conclusion of the auction, which took place from January 20 to January 27, 2025. After the event, bidders began sharing screenshots on social media that displayed exorbitant bid amounts, prompting many to reconsider their participation in some deals.

Bids for mid-range and moderately sophisticated Lexus SUVs ranged from ₦1 billion to ₦330 billion.

One user, Daniel Momoh, voiced his frustrations on X.com, stating, “Dear @officialEFCC, it’s unfortunate that you and your auctioneers cheated us out of a legitimate process. I won four vehicles, including a Toyota Venza for ₦2,670,000, but woke up to find my name replaced, preventing me from accessing my account.”

Another user, #Kennylekel, expressed concerns about technical issues, saying, “The official auction website showed an error 502 just 43 minutes before the auction ended! I hope this wasn’t an attempt to favor certain bidders. I’ve been bidding since 11 am. Please respond.”

A user identified as CIA on X.com alleged, “This seems like damage control. The cars were likely sold to staff and associates for minimal amounts. If you buy from them, you may be suspected of fraud.”

Baron El’Sama criticized the auction process, claiming, “The auction was a sham! Bids reached ₦350 billion for a Lexus RX 350 Jeep, which is not a glitch but a deliberate attempt to block others from bidding.”

Aromeh Joshua noted on Facebook, “I checked two Lagos auctioneers, and their websites were temporarily unavailable. It feels like the auction was hastily organized.”

Hafiz Bawa reported possible collusion, stating, “It appears the highest bidder inflated prices to disadvantage legitimate bidders. I urge an immediate investigation into this matter.”

Tchalla Kingsman remarked, “Many have accused @officialEFCC of fraud, yet no one has confirmed receiving the cars they bid on. The institution isn’t addressing these claims; we need improvement.”

In contrast, some defended the auction's integrity, stating, “Claims of non-transparency are unfounded. The process was electronic and open, with no outside influence.”

EFCC spokesperson Dele Oyewale responded to the allegations, clarifying that the commission had no involvement in the auction process, which was managed by licensed auctioneers. He suggested that some bidders may have placed inflated bids to disrupt the process, emphasizing that the EFCC did not interfere.

He also challenged anyone with evidence of misconduct to come forward, asserting that even his close associates could not leverage his position to secure a vehicle in the auction.

Last week, the commission announced the auction of over 850 cars forfeited to the Federal Government, recovered during investigations into financial crimes, including corruption and money laundering. The auction was conducted in accordance with relevant laws, and the EFCC promised transparency and fairness throughout the process.