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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UPDATE: GUINEA VOTES 'YES' IN REFERENDUM FOR RETURN TO CIVILIAN RULE. (PHOTO).

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 Guinea votes 'Yes' in referendum for return to civilian rule


Over 90% of Guineans voted ‘yes’ in a constitutional referendum on a new constitution, widely seen as a step towards elections and the return to civilian rule, according to provisional results announced by the electoral body, TRT Afrika reported.


The new constitution would lengthen the presidential term from five years to seven, renewable once, and create a Senate, with one-third of senators directly appointed by the president.


Guinea, which is home to the world's largest reserves of bauxite, is expected to hold its presidential election in December after the government missed a 2024 deadline.


The interim leader Mamady Doumbouya, who seized power in a military coup in 2021, has not said yet whether he intends to run for office.


A transition charter adopted by his government after it took power said its members would be barred from standing in the next election.


On Thursday, S&P Global Ratings assigned Guinea its first-ever sovereign rating, B+ with a stable outlook. This makes Guinea the third best-rated economy in West Africa, according to the ratings agency.

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