Lagos State Government has successfully auctioned off 88 forfeited and abandoned vehicles, generating millions of naira in revenue.
The auction, which was conducted by CR Limited Auction House, attracted over 300 bidders who converged on the Taskforce Yard in Alausa, Ikeja, on Thursday and Friday.
Some of the vehicles, including the Lexus ES 350, Lexus RX 300, Toyota Camry, and Honda Accord, were in good condition, while others, such as commercial and shuttle buses, were in a deplorable state, reports the Vanguard.
According to Ade Ononuga, Lead Auctioneer and Managing Director of CR Limited, the process of auctioning the vehicles began about six weeks ago, with advertisements placed in national newspapers to notify the public and the previous owners of vehicles.
“The process started about six weeks ago. First, we were briefed. Then, the vehicles to be auctioned were identified, listed and advertised. This is to notify those who own them, the previous owners. Then we had the second advert, which now announced the auction itself with the program of inspection”, Ononuga stated.
“We have over 300 people who registered and are participating in this auction, which is very encouraging. We have 88 vehicles to be sold to the highest bidders. We’re selling as it is. That is the condition; you look at it, you like it, and you pay. The rest of it – your cost of coming here, your cost of moving it, if you win, is up to you,” he emphasised.”
The immediate past chairman of the Certified Institute of Auctioneers in Nigeria, Lagos chapter explained that the auction was conducted in a transparent and orderly manner, with bidders required to pay a participation fee of N3,500. According to him, the auction was a huge success, with the state government generating significant revenue from the sale of the vehicles.
He stressed that his company has been conducting auctions for the state for several years, having won the bid to handle the auctions in a competitive process.
Ononuga attributed the company’s success to its commitment to transparency, professionalism, and customer satisfaction as it has a reputation for conducting auctions in a fair and transparent manner.
He said: “This is the third time we’re conducting for the Lagos State government. So far so good, we’ve not messed up otherwise they don’t have to call us year in year out. I know that there are other companies who are interested in getting it, but as long as we’re satisfying our clients, I don’t see any reason why they should change.
“Because we impressed the government, the initial fee they agreed to pay us was increased by 25 per cent, saying that one, it has never been so orderly; two, they have never made so much money because people come with the mindset that it’s their own opportunity to get something from the government and we said no, this is a serious business and we are committed to that standard.”
Addressing the bidders before the commencement of the exercise, the Director/Coordinator of Lagos Mobile Court, Mrs. Arinola Banjoko, reeled out the criteria for participation and warned that those who failed to adhere to the rules would be disqualified.