FEC orders buyers of seized Lagos properties to pay 2001 value


The Federal Government has ordered buyers of two underpriced public properties in Lagos to pay the differentials of the real values of the properties as of 2021.

The Minister of Works and Housing Babatunde Fashola who disclosed this on Wednesday while briefing State House Correspondents after the week’s Federal Executive Council meeting said the council arrived at the decision following a memorandum presented which revealed that the government was short-paid in the transaction on the properties seized by officials of the National Drug Law Enforcement Agency (NDLEA).

According to Fashola, the properties, a four-bedroom bungalow on Adeniyi Jones and another five-bedroom duplex on Amadasun Street in GRA, Ikoyi, Lagos, which sold for N2 million and N5 million respectively were seized by the NDLEA in the course of narcotic prosecution.

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