The Independent Corrupt Practices and Other Related Offences Commission (ICPC) announced that it generated N1.86 billion from the auction of forfeited assets in 2024, marking the highest amount the commission has recorded since its inception.
The figure was disclosed during the 2025 meeting of the asset disposal committee, following the presentation of a report by the Proceeds of Crime Department (POCD), according to a statement released on Wednesday by ICPC spokesperson, Demola Bakare.
Bakare noted that the POCD report indicates that ten of the twenty-three assets slated for disposal in 2024 were successfully auctioned in December of that year. Seven assets could not be sold because the bids received were below the approved threshold or forced-sale value. The remaining six were withdrawn due to complications related to legal challenges, security concerns, or encroachment issues, with four of the unsold assets being carried over to the 2025 disposal programme.
For the 2025 exercise, the Committee has identified thirty movable and immovable assets for auction. This inventory includes four assets rolled over from 2024, twelve immovable properties, three movable assets, and eleven batches of newly enrolled perishable assets.
A financial breakdown of the funds realized from the 2024 disposal shows that:
* Perishable/Scrapped assets yielded \text{N}3,969,400.00.
* Off-cycle disposal sales (3 assets) amounted to \text{N}975,000,000.00.
* On-cycle disposal sales (20 assets) generated \text{N}890,000,000.00.
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