The Economic and Financial Crimes Commission (EFCC) has started plans to auction seized Petroleum products and vessels from oil bunkers.

The commission held a “pre-bid meeting” with shortlisted auctioneers in Abuja on Tuesday.

EFCC acting chairman, Ibrahim Magu said the objective of the meeting was to give every interested company a fair chance to participate in the exercise.

Magu who was represented by Olusina Ogundimu, EFCC deputy director of procurement said the meeting will help educate bidders on the guidelines.

“The bidders are expected to submit the proposals on October 17, 2017, after which the evaluation committee shall sit to evaluate, review, select and recommend the successful auctioneers for engagement,” Ogundimu said.