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FG: 398 firms bid for valuation of forfeited assets

The Inter-ministerial Committee on the Disposal of Forfeited Assets to the Federal Government, yesterday, disclosed that a total of 398 Estate Surveyors and Valuers bided for the valuation of the forfeited assets during the Requested For Proposal (RFP). Chairman of the Committee, Dayo Apata (SAN), who doubles as Permanent Secretary of the Ministry of Justice and Solicitor General of the Federation, hinted that out of the 398 firms that indicated interest for the RFP, 355 submitted their proposals while the proposals of six firms were rejected.

Apata said the bid process for the procurement of Estate Surveyors and Valuers on the forfeited assets was aimed at ensuring, “transparency and value for money.” “Upon the inauguration of the committee, what we decided to do is to have evaluation stages which all the assets will reflect the market value so that at the end of the day, the Federal Government will be selling or disposing of all the assets within the value that are ascribed to them.

“So, what we have done is to get experts in the field and let them value the forfeited assets in conjunction with the Federal Ministry of Works and Housing to ensure value for money, transparency and accountability in every asset disbursed.

“That is the essence of this assignment. After this stage, we will go into auctioning stage and we will also have to go for auctioneers who are experts in it, in conjunction with the Federal Ministry of Works and Housing to ensure value for money, transparency and accountability in every asset disposed of,” Apata said. The Attorney General of the Federation (AGF) and Minister of Justice, Abubakar Malami (SAN) had inaugurated the inter-ministerial committee on November 9, 2020, to essentially dispose of assets forfeited to the Federal Government.


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