FG orders buyers of seized drug-related properties to pay an additional N31m

THE Federal Executive Council (FEC) has ordered the buyers of two foreclosed properties in Lagos to pay more money to the government to cover the cost effective in 2001 when they were appraised. This followed a memo presented to the council by the Minister of Public Works and Housing, Babatunde Fashola, which explained that the government had not obtained the appropriate amount for the transaction.

The FEC meeting was chaired by President Muhammadu Buhari at the Presidential Villa in Abuja on Wednesday. Fashola said the properties, a four bedroom bungalow on Adeniyi Jones Avenue in Lagos and a five bedroom duplex on Amadasun Street in GRA, Ikoyi, Lagos have been seized by the National Drug Enforcement Agency ( NDLEA) in narcotics prosecutions.

The minister noted that the properties had been sold for N2 million and N5 million respectively in 2001. He said the government now wanted buyers to pay N18 million for the bungalow and of 21 million naira for the duplex, which brings the total additional amount. to be paid at N31 million.

The minister, however, could not disclose the identity of the buyers as he said it was not listed in the memo to the FEC.

He said, "At that time, the valuation we got was that if they had been properly valued, they should have been sold for 18 million Naira and 20 million Naira respectively."

He noted that the NDLEA Act at the time gave precedence to Department of Justice directives and that regulations were made in accordance with powers under the act.

"But they ignored the public procurement law and financial regulations of the time.

"We are now saying that in the future, financial regulation must take precedence. These are all proposals that will come in the form of a new law when the Ministry of Finance is finished with them, so you cannot have different regulations for the disposal of assets that have been confiscated by the government. They must be subject to a higher procedure,” he added.

The minister also revealed that the government has approved a policy recommendation to extend the useful life of government assets such as factories, equipment, land, property and machinery.

According to him, the new recommendation will ensure proper disposal while reducing public spending.

Fashola said that to ensure proper accountability, Ministers will now be fully involved in the procurement process as they are now required to sign property valuation requests from their Ministries, Departments and Agencies (MDAs) respective.

He further said: "We have also proposed that the heads of the ministry, as accounting officers, must now approve applications for property valuations, particularly when agencies attempt to purchase properties. “We have seen that sometimes ministers are not even aware that proposals are being made for the acquisition of certain types of assets. Essentially, the board approved all of the policy recommendations. They must approach the Ministry of Finance, which is responsible for establishing financial regulations in order to carry out the necessary regulations.

Meanwhile, the former Governor of Lagos State described the disruption of vehicular traffic on Tuesday around the Sagamu interchange of the Lagos/Ibadan highway as a violation of the law. Responding to a question, he called for the public's understanding of the inconvenience around the yet to be completed segment of the busy road.

Fashola said, "We're still on track. You may have heard that I had to call a show yesterday just to clarify. It's a combination of the work being done and also traffic and behavior of drivers and commuters, as well as the elements; recent heavy rains, which cause discomfort.

"Once again, I am using this medium to apologize and empathize with the citizens and commuters who need this place to get on with their lives.

"This is the place we left until last because it is the most built-up area, the last six kilometers to Lagos, very densely populated and busy and there is very little space for alternate routes for people, so they just have to support us.

“I have also heard that some aggrieved students under the National Association of Nigerian Students (NANS) are also taking to the road to protest. does not help citizens at all. The right to protest is a very well protected right in our constitution, but it does not include the right to inflict pain and inconvenience on other people.

"Thus, so long as their protests can continue, they should refrain from blocking the road to make their protest; that in itself is a violation of the law, if they are properly advised.

Meanwhile, the FEC on Wednesday also approved a partnership for the production of local vaccines. Minister of Health Dr Osagie Ehanire has revealed that Nigeria will start construction of an inoculation factory...