LAGOS HOTEL, 3 OTHER PROPERTIES FORFEITED BY DRUG KINGPINS AUCTIONED AT N6.1BILLION.(PHOTOS). #PRESS RELEASE.

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 Lagos hotel, 3 other properties forfeited by drug kingpins auctioned at N6.1billion *- It’s a clear message that cartels won’t be allowed to enjoy proceeds of their criminal trade, says Marwa*  A Lagos hotel and three other properties seized from drug kingpins by the National Drug Law Enforcement Agency (NDLEA) and forfeited to the Federal Government through court processes have been auctioned for the sum of Six Billion One Hundred and Forty- Eight Million Nine Hundred and Sixty-Four Thousand Naira (N6,148,964,000.00) only. This was the outcome of a competitive bid process for the sale of eight assets forfeited by drug barons in parts of the country. While bidders who offered above reserved prices emerged winners of four of the listed properties, bids for four others failed because none offered up to the reserved prices. Announcing the winning bids at the bid opening ceremony attended by representatives of ICPC, Civil Society Organisations, auctioneers and bidders at the NDLE...
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TINUBU: "I AM CONCERNED ABOUT THE SLOW PACE OF ECOWAS STANDBY FORCE".(PHOTO). #PRESS RELEASE.

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 STATEHOUSE PRESS RELEASE


TINUBU: "I AM CONCERNED ABOUT THE SLOW PACE OF ECOWAS STANDBY FORCE"


 


President Bola Ahmed Tinubu has expressed deep concern over the slow pace of activating the ECOWAS Standby Force and urged West African leaders to move swiftly from concept to reality in the collective fight against terrorism and transnational crimes.


 


President Tinubu raised the concern in his opening speech at the 67th ECOWAS Authority's Ordinary Session in Abuja, one of his last acts as chairman of the 50-year-old regional economic bloc.


 


The Nigerian leader emphasised the urgency of operationalising the force in the face of escalating insecurity across the sub-region.


 


"The ECOWAS Standby Force must move from concept to operational reality. I am a little bit worried about the slow pace of its activation, which is taking longer than desired," the President said.


 


The Nigerian leader noted that threats confronting the region are transnational, driven by agile and dangerous networks that respect nobody's border."


 


"No single nation can, therefore, address these challenges alone. We must strengthen coordination, amplify political will, and prioritise a collective approach to secure it," he added.


 


President Tinubu highlighted major milestones during his leadership of the regional bloc.


 


He said the completed ECOWAS Military Logistics Depot in Lungi, Sierra Leone, will play a critical role in providing equipment and other logistics to forces deployed by ECOWAS. "


 


"Last February in Addis Ababa, Nigeria signed the Sixth Agreement with the African Union. With the depot's completion, Nigeria is committing itself to sea-lift and air-lift arrangements with ECOWAS," he said.


 


President Tinubu expressed the hope that ongoing diplomatic engagements with Burkina Faso, Mali, and Niger will eventually lead to their return to the community.


 


"Under my chairmanship, I deployed all diplomatic means to engage and dialogue with our brothers in Burkina Faso, Mali, and Niger. I am confident that before too long, they may return to the family, "he said.


 


The Nigerian leader called for deeper economic cooperation, empowering the private sector, and removing trade barriers to unlock West Africa's potential.


 


"Our intra-regional trade remains low, even as we possess the potential to be an economic powerhouse. We must create the enabling environment, empower the private sector, and create the conditions necessary for innovation to flourish," he said.


 


He urged the speedy implementation of key regional infrastructure projects—including the West African Gas Pipeline, West African Power Pool, and Abidjan–Lagos Corridor Highway—as catalysts for development and integration.


 


 


BAYO ONANUGA


Special Adviser to the President,


(Information and Strategy)


June 22, 2025

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