All information presented in this article is based on verified facts. The content reflects information that have been formally submitted to the Economic and Financial Crimes Commission (EFCC) as part of its analytical review of the recently concluded EFCC e-Auction. This article seeks to provide a clear, accurate, and transparent account of the activities and involvement of our five clients, who actively participated in the e-Auction process.
Introduction
The EFCC, established under the EFCC (Establishment) Act of 2004, is tasked with investigating and prosecuting economic and financial crimes while ensuring that the proceeds of such crimes are recovered and managed effectively. Historically, the disposal of forfeited assets—ranging from luxury vehicles to real estate—has been conducted through physical auctions managed by licensed auctioneers. However, these traditional methods often faced criticism for a lack of transparency, limited participation, and allegations of favouritism.
The EFCC eAuction emerged as a response to these challenges, aligning with the Proceeds of Crime (Recovery and Management) Act of 2022 and the Public Procurement Act of 2007. By leveraging technology, the commission sought to create a seamless, inclusive, and credible process that allows Nigerians from all walks of life to participate in bidding for forfeited assets. As part of the preparatory phase for the upcoming e-Auction, the Economic and Financial Crimes Commission (EFCC) formally invited licensed and qualified auctioneers to submit an Expression of Interest (EOI) along with a Bid Submission Form. This open call was intended to ensure a transparent and competitive selection process, attracting professionals with the capacity and integrity to handle the disposal of forfeited assets.
One of the key eligibility requirements set by the Commission was that all prospective auctioneers must operate a fully functional auction website. This requirement underscores the EFCC’s commitment to leveraging digital platforms to enhance accessibility, ensure real-time participation, and minimise manual processes. The digital readiness of the auctioneers was considered critical to the success of the e-Auction initiative, as it reflects both technical competence and the ability to support a modern, technology-driven asset management and bidding system.
The requirement for a fully functional auction website, as stipulated by the EFCC, prompted licensed auctioneers to actively seek partnerships with reputable and experienced technology companies. These auctioneers recognised the need for digital platforms that were not only visually appealing but also secure, scalable, and capable of supporting real-time bidding processes. The goal was to develop websites that could handle a high volume of users, ensure data integrity, and offer features such as user authentication, real-time bidding, and seamless user interfaces. Meeting these technical and regulatory standards was essential for compliance with the EFCC’s guidelines and for ensuring transparency, efficiency, and public trust in the e-Auction process. As a result, many auctioneers turned to tech firms with proven track records in web development, cybersecurity, and digital infrastructure management to bring their platforms up to standard.
Three years before the EFCC announced plans to launch its e-Auction initiative, we had already begun a close collaboration with Kamyus Consult Limited. During this period, we and developed their official website as well as a fully functional e-Auction platform tailored to their operational needs. Kamyus Consult has since leveraged this platform to successfully conduct e-Auctions for a range of clients, including both private sector entities and government organisations. Notably, the platform has been utilised by the Independent Corrupt Practices and Other Related Offences Commission (ICPC), a sister anti-corruption agency to the EFCC, further demonstrating its credibility and versatility.
Building on our successful collaboration with Kamyus Consult Limited, we extended our services to other licensed auctioneers who had submitted their Expression of Interest (EOI) and Bid Submission Forms to the EFCC. Leveraging our expertise, we worked closely with these auctioneers to design and develop fully functional e-Auction websites that met the technical and compliance requirements set forth by the Commission. Our goal was to ensure that each platform was secure, user-friendly, and aligned with the EFCC’s standards for transparency, accessibility, and efficiency.
Out of the 16 companies officially approved by the Economic and Financial Crimes Commission (EFCC) to participate in the e-Auction initiative, we are proud to have worked with 5 of them as valued clients. These companies include Kamyus Consult Limited, Fagobe Company Limited, Aikson Nwankwo Distribution Services, PSC International Investment Limited, and Richmate 480 Nig Ltd. This represents an impressive 31.25% of all approved auctioneers—a significant endorsement of our capabilities and the trust our clients place in us.
This milestone was both exciting and humbling. It underscored the confidence the auctioneering community has in our ability to deliver reliable, scalable, and compliant digital solutions. More importantly, it fueled our commitment to excellence, knowing that we had a critical role to play in supporting a national initiative driven by transparency, accountability, and innovation.
As we prepared to support these clients through the setup and execution of their e-Auction platforms, we focused on more than just ticking technical boxes. We worked to ensure that each solution reflected the highest standards of user experience, system integrity, and regulatory compliance. From secure bidding mechanisms to real-time dashboards and seamless integration with EFCC protocols, our team was fully equipped and ready to meet the challenges ahead.
EFCC Presentation
The Economic and Financial Crimes Commission (EFCC) mandated all 16 approved companies to report to its headquarters for a formal presentation and live demonstration of their e-Auction websites. This step was a critical part of the Commission’s due diligence process, aimed at ensuring that each company possessed the technical capacity, security infrastructure, and operational expertise required to manage a nationwide e-Auction exercise. By conducting these evaluations in person, the EFCC reinforced its commitment to transparency, credibility, and the smooth execution of the digital auction process across Nigeria.
In preparation for the EFCC’s scheduled presentations and demonstrations, we worked closely with our clients to ensure that their e-Auction websites were fully deployed, tested, and optimised for performance. On the day of the presentation, the Commission posed a series of critical technical questions aimed at evaluating the platforms’ functionality, security, and readiness. We were on the ground to provide clear, confident responses to all inquiries and to lead the live demonstration of our clients’ platforms. The Commission expressed satisfaction with the performance and compliance of the websites, marking a significant milestone in the process.
Following the successful demonstration, the approved companies were cleared to proceed to the next phase: asset cataloguing. This crucial stage required each auctioneer to travel to their assigned states to inspect, document, and catalogue the lots allocated to them. It marked the beginning of the fieldwork phase of the e-Auction project—an essential step toward ensuring accurate listings, Auctioneers’ assessments of the lots, and transparency throughout the auction process.
Asset Cataloguing
Our five clients—Kamyus Consult Limited, Fagobe Company Limited, Aikson Nwankwo Distribution Services, PSC International Investment Limited, and Richmate 480 Nig Ltd—were each assigned to different states across the country as part of the EFCC’s asset cataloguing phase. These assignments were critical for enabling a smooth and regionally coordinated rollout of the e-Auction process. Richmate 480 Nig Ltd was tasked with handling asset cataloguing in Port Harcourt, Uyo, and Ilorin. PSC International Investment Limited was assigned to Lagos, while Aikson Nwankwo Distribution Services was responsible for Edo State. Fagobe Company Limited was allocated both Edo State and Lagos, and Kamyus Consult Limited was also assigned to Edo State. Each company was required to travel to their designated locations, inspect the forfeited assets, and accurately catalogue them in preparation for listing on their respective auction platforms.
As part of the asset cataloguing phase, each of our five clients was allocated a specific number of vehicles for auction, reflecting the scope of their assignments. Kamyus Consult Limited was allocated 50 vehicles, while Fagobe Company Limited received 60 vehicles—the highest among the group. Aikson Nwankwo Distribution Services was assigned 38 vehicles, PSC International Investment Limited was allocated 51 vehicles, and Richmate 480 Nig Ltd was tasked with cataloguing 49 vehicles. These allocations marked a significant responsibility for each auctioneer, requiring thorough on-site documentation, verification, and preparation of the vehicles for public bidding through their respective e-Auction platforms.
During the asset cataloguing phase, we continued working closely with our clients to ensure smooth operations across their assigned locations. In the course of this collaboration, some clients expressed the need to simplify and streamline the process further. In response, we began developing a mobile application specifically for asset cataloguing. The app enabled field agents to capture images of assets, input key details, and automatically upload the information directly to the auctioneer’s e-Auction platform in real time. This mobile application effectively replaced the time-consuming manual process of taking photos with separate devices and uploading them one by one. By automating and digitising asset capture, the app significantly increased efficiency, reduced errors, and improved data accuracy for each lot being prepared for auction.
After all the travel and hard work involved in the cataloguing process, we are proud to say that we completed our part. We ensured that all 248 vehicles were meticulously uploaded onto each of our clients’ e-Auction websites, with clear, high-quality images and concise, accurate information for every lot. Despite the demanding nature of this phase—working around the clock to meet deadlines—we are grateful for the opportunity to play a pivotal role in bringing this process to fruition. The dedication and effort invested during this time were essential to ensuring the integrity and success of the e-Auction.
Before the Rodeo – Preparing for EFCC’s First Major e-Auction
Following the completion of the asset cataloguing phase, the Economic and Financial Crimes Commission (EFCC) conducted a thorough review of the work done and provided feedback across the various auctioneers’ websites. As part of this review process, the Commission requested special access links that would allow them to view the assets in a public-like view mode, enabling them to examine all the lots and offer feedback where necessary. In response, we created these unique access links for each of our five clients, ensuring that the assets could be viewed and evaluated by the Commission while maintaining confidentiality. All assets needed to remain private until the Commission granted final approval for them to be made public. This careful control and access management ensured that the integrity of the process was upheld throughout.
In the months, weeks, and days leading up to the nationwide publication of the EFCC e-Auction, a great deal of behind-the-scenes work was underway. This included establishing secure, restricted access for the Commission to review each auctioneer’s administrative portal, coordinating with stakeholders ahead of the auction launch, and ensuring all technical systems were fully prepared. As the technology partner for our clients, we played a critical role in this phase. We implemented the restricted admin access requested by the Commission, allowing them to securely monitor and evaluate each platform’s backend without compromising sensitive data. In addition, we carried out extensive unit testing and continuous quality assurance processes, which enabled us to identify and resolve last-minute bugs. This rigorous approach helped ensure that each e-Auction platform was stable, secure, and ready for public launch.
Once the reserve prices were released to the auctioneers for each of their assigned lots, we were tasked with the responsibility of accurately configuring these values within their respective e-Auction platforms. This included setting the correct reserve prices, minimum and maximum bid amounts, as well as the auction start and end dates. The auction was officially scheduled to take place on January 27, 2025, between 11:00 AM and 4:00 PM. In preparation, we meticulously entered and double-checked all relevant details for each lot to ensure consistency, accuracy, and compliance with the EFCC’s guidelines. This step was critical in guaranteeing a smooth and transparent public bidding process when the auction went live.
When the EFCC officially made the e-Auction information public, it sparked widespread interest across the country. Hundreds of thousands of Nigerians visited the auction platforms to explore the various assets listed under different lots. Many users began curating their selections by adding preferred assets to their wish lists in anticipation of the bidding date. The Commission provided a one-week public notice period, allowing prospective bidders ample time to register, onboard, and familiarise themselves with the platform and the assets available. Nearly 20,000 users registered, verified their emails, and added their desired assets to their wish lists across the five websites in preparation for bidding day.
The first major rollout of the e-Auction gained significant national attention in January 2025, following the EFCC’s announcement of the auction of over 850 vehicles recovered from fraud-related cases across several states, including Lagos, Abuja, Kano, and others. This marked a pivotal moment in the Commission’s digital transformation efforts, showcasing a more transparent and accessible method for asset recovery and disposal.
eAuction Day
In the days leading up to the auction, auctioneers received numerous calls, messages, and emails from users seeking clarification about the upcoming event. To address these inquiries, we an informative poster and deployed it as a pop-up across our client’s five websites. This ensured that people received clear, concise information as soon as they accessed the site.
In the final hours leading up to the highly anticipated auction on January 27th at exactly 11:00 AM, our team was fully immersed in preparations. We worked around the clock—day and night—reviewing every detail, running last-minute system tests, and expanding server capacity to handle the anticipated traffic surge. No stone was left unturned. Every team member was on high alert, coordinating to ensure that all components of the auction platforms functioned flawlessly.
The pressure was immense. This wasn’t just another online event. Five companies had placed their full trust in us to deliver a seamless experience. The Commission, in turn, had entrusted these five companies and the other 11 companies with the responsibility of executing a transparent and efficient auction. And above all, the public was looking to the EFCC for accountability, fairness, and integrity throughout the entire process. That chain of trust amplified our sense of duty and made the stakes incredibly high.
For us, this translated into several sleepless nights. Every system check, every performance simulation, and every contingency plan was critical. We were driven not just by technical excellence, but by the understanding that any failure would ripple through multiple layers of public and institutional trust. This sense of responsibility created a highly charged atmosphere, filled with anticipation, tension, and a collective determination to succeed.
When the moment finally arrived, and the system went live precisely at 11:00 AM, it wasn’t just a technical milestone—it was the culmination of intense effort, collaboration, and the confidence that we had done everything possible to deliver a successful eAuction experience.
As the auction system went live, we observed a rapid influx of activity, with hundreds of bids being processed per second across the platforms. This real-time surge in bidding volume placed a substantial load on the infrastructure. Incoming traffic included a mix of legitimate user activity and automated bot traffic, resulting in a significant spike in server requests. Our load-balanced architecture and autoscaling configuration effectively managed the increased demand without service degradation.
Across the five participating entities—Kamyus Consult Limited, Fagobe Company Limited, Aikson Nwankwo Distribution Services, PSC International Investment Limited, and Richmate 480 Nig Ltd—the system recorded close to 500 GB of total bandwidth consumption during the bidding window. This included HTTP requests, API calls, real-time bidding submissions, asset loading, and auxiliary traffic. The high throughput and sustained concurrency validated the robustness of our server infrastructure, caching mechanisms, and request-handling pipelines under peak load conditions.
During the course of the auction, we detected Distributed Denial of Service (DDoS) attacks targeting some of our clients’ servers. In response, we immediately activated our emergency mitigation protocols, including rate limiting, traffic filtering, and rerouting traffic through our DDoS protection infrastructure. Despite these rapid measures, the attacks temporarily affected server uptime, resulting in intermittent downtimes ranging from 10 to 20 minutes.
This led to degraded performance and slower page load times for users, which in turn impacted the frequency and responsiveness of bidding during that window. Our engineering team worked swiftly to identify and neutralise the attack vectors. Once stabilised, the systems returned to optimal performance, and all platforms remained fully operational for the rest of the auction period, allowing bidders to continue without further interruption.
We observed that several other auctioneers’ websites experienced outages during the auction period, likely due to DDoS attacks or limited server resources. As a result, a significant portion of traffic was redirected to our five clients’ websites, as the public remained eager to place their bids and sought out platforms that were still accessible and fully functional.
Fortunately, due to our thorough preparations ahead of the auction—including infrastructure scaling, stress testing, and robust DDoS protection—this unexpected surge in traffic had no negative impact on performance. All five websites remained stable and responsive, ensuring a smooth bidding experience for users throughout the event.
At the end of the auction, we conducted a comprehensive analysis of bidding activity, focusing on both total bids and bid frequency (i.e., the number of times users placed bids). Across the five companies, over 10,000 individual bids were recorded, with a total bid frequency exceeding 42,000.
These insights were made possible through the robust, custom-built auction system we developed for our clients. The platform was to handle multiple complex tasks in real time, including tracking each bidder’s activity per asset, calculating the number of bids per user, and automatically computing key financial metrics such as the Bid Amount VAT, Buyer’s Fee, Buyer’s Fee VAT, and Total Payable Amount. All calculations were processed live as each bid was submitted, ensuring transparency and accuracy throughout the auction.
Reports, Payments & Assets Collection
Immediately following the conclusion of the eAuction, the Commission formally requested all participating auctioneers to submit their system-generated reports, along with any preliminary findings and observations, to support a thorough process of review, verification, and evaluation aimed at ensuring transparency, compliance, and accuracy in the auction proceedings. In response, we promptly prepared all required reports for our five clients, which were subsequently submitted to the Commission in a timely and organised manner.
Following a thorough review and assessment of the submitted reports, the Commission instructed auctioneers to notify the winning bidders to proceed with payment for the assets they had won. The reports submitted to the Commission included bid records, winner details, and other relevant information. Per the directive, the auctioneers contacted the respective winners, and payments for the vehicles were subsequently made.
After the payments were completed, the Commission conducted a thorough payment verification to ensure that all its guidelines and regulations had been fully adhered to by the auctioneers. The Commission meticulously reviewed every aspect of the auction. Once the process was concluded and all requirements were satisfied, the vehicles were approved for collection. Winners were then instructed to visit the Commission’s zonal offices across the country to retrieve the vehicles they had won with the required means of identification.
What is EFCC eAuction?
The eAuction is an online auction introduced by the EFCC, Nigeria’s primary agency for combating financial crimes. It is to facilitate the transparent and efficient sale of assets seized from individuals and groups involved in corrupt activities, fraud, money laundering, and other criminal offences. The auction allows registered participants to bid on a variety of assets. The eAuction operates under the supervision of the EFCC and is part of its broader strategy to ensure transparency and accountability in the disposal of confiscated assets. The digital nature of the auction ensures that the entire process is more secure, transparent, and accessible to Nigerians across the country.
How the Public Participated in the EFCC eAuction
Participating in the EFCC eAuction was relatively simple. Interested buyers followed these steps:
- Registration: Interested individuals first registered on the licensed auctioneers’ eAuction websites. This typically requires basic personal details and an agreement to the platform’s terms and conditions.
- Browse Available Lots: Once registered, participants browsed the various assets available for auction. The platform provided detailed descriptions and images of the lots to ensure potential buyers made informed decisions.
- Place Bids: Bidders placed their bids on the items they are interested in. The platform allowed participants to track their bids in real-time and provided notifications if they were outbid.
- Winning the Auction: If a bidder is successful, they are notified and instructed on how to complete the payment and take possession of the asset.
Challenges and Public Response
- Some websites experienced slow load times, which led to delayed access to the bidding platform. We acknowledge that there were some downtimes during the bidding period; however, these interruptions lasted only 10 to 20 minutes. We promptly identified and resolved the DDoS issues, ensuring minimal disruption to the overall bidding experience for our five clients.
- Some websites experienced instances of outrageous bids, which raised concerns about the integrity of the bidding process. However, regarding our five clients’ websites, there were no such incidents. All bids placed adhered to the algorithms of the systems, which we implemented and tested extensively. This system effectively regulated the competitive bidding process, maintaining transparency and fairness throughout the auction.
- Some websites have been known to delete bids, but on our five clients’ websites, the bidding history was fully protected. Both internal and external forces were unable to edit or delete any bid records. As a result, the system-generated reports were 100% accurate, reflecting the true and unaltered history of all bids placed.
- Some websites have been known to delete and replace winning bids. However, on our clients’ websites, no winning bids were deleted or altered. The system determined the winners based on the highest bids, and additionally, each winning bid was verified to ensure it exceeded the reserve price set by the Commission. All these were done in real-time by the system.
- Some bidders claimed they had won but were not contacted by the auctioneers. However, all legitimate winners were promptly contacted by the auctioneers. It’s important to note that while the system automatically selected the winners, being the highest bidder does not necessarily guarantee victory. To be considered a winner, a bid must meet or exceed the Commission’s reserve price; any bid that falls below the reserve price, even if it is the highest, does not qualify as a winning bid.
Conclusion
The EFCC eAuction is revolutionising the sale of seized assets in Nigeria by introducing a more transparent, efficient, and accessible system. Through the use of technology and collaboration with licensed auctioneers, the EFCC ensures a corruption-free process that boosts economic participation and generates critical revenue for the government. As the process continues to evolve, it stands as a model for other government agencies aiming to modernise public asset disposal. The EFCC eAuction is reshaping Nigeria’s auction landscape—promoting trust, transparency, and accountability in the fight against corruption.
As a technology company involved in the process, we’ve received positive feedback, valuable comments, and constructive criticism—all of which we’ve taken as learning opportunities. This journey has been a learning curve, and while we acknowledge our mistakes, we’re proud of the hard work and dedication we’ve invested in helping our five clients achieve outstanding results. It’s especially rewarding to see some of their systems rated among the top five in the bidding process—an outcome that truly makes us proud.
The EFCC eAuction is still in its early stages, but its potential to transform Nigeria’s auction landscape is clear. The Commission is actively educating the public, ensuring strong oversight, and refining the process to promote transparency and accountability. As a bold step in governance, the eAuction initiative could redefine how forfeited assets are managed while playing a key role in Nigeria’s fight against financial crime. Though still evolving, it marks a significant move toward a more transparent, equitable future—one bid at a time.