*The Federal Ministry of Housing and Urban Development assures Nigerian consumers will soon have an opportunity to own homes in a recovered 753-duplex housing estate the Economic and Financial Crimes Commission recovered from former CBN Governor Godwin Emefiele as corruption proceeds

Isola Moses | 绿帽献妻

In a bid to prevent possible relooting of same sprawling properties, the Federal Ministry of Housing and Urban Development has assured Nigerians will have an opportunity to own affordable homes in a 753-duplex housing estate, recovered from Mr. Godwin Emefiele, a former Governor of the Central Bank of Nigeria (CBN), and located in Abuja, FCT.

绿帽献妻 reports the Economic and Financial Crimes Commission (EFCC), following investigations and subsequent prosecution in a court of law, had secured an order to seize the properties originally linked to Emefiele.

Salisu Haiba, Director of Press and Public Relations at the Ministry, disclosed this development in a statement Tuesday, May 20, 2025, in Abuja.

Mr. Godwin Emefiele, ex-Governor of CBN, during his appearance in court

The Federal Ministry of Housing also affirmed that the EFCC has handed over the property at the Ministry鈥檚 Headquarters, at Mabushi, Abuja.

Hitherto, stakeholders in the housing sector of the Nigerian economy had called for the transparent sale of the confiscated 753 housing units.

According to them, the Federal Government should not allow any government officials to reloot the properties.

The statement also noted: 鈥淭he Ministry of Housing and Urban Development has taken delivery of the 753 housing units in Abuja housing estate of former Central Bank Governor, Godwin Emefiele, recovered by the Economic and Financial Crimes Commission.”

Dangiwa commends for EFCC exemplary leadership

Meanwhile, Ahmed Dangiwa, Honourable Minister for Housing and Urban Development, has commended the EFCC for its sustained commitment to asset recovery and anti-corruption in Nigeria.

Dangiwa stated: 鈥淭his marks a significant milestone in our collective determination to ensure that recovered assets are put to productive use in ways that directly benefit the Nigerian people.

“The housing estate recovered from the former Governor of the Central Bank is a case in point.”

The Minister also announced that the Ministry, in collaboration with the EFCC, would undertake a joint familiarisation tour to assess the current state of the estate in the FCT.

He further said: 鈥淲e intend to carry out thorough integrity and structural assessments on all buildings and associated infrastructure to confirm their safety and suitability for habitation.”

Besides, Dangiwa detailed plans for a comprehensive technical evaluation to determine the cost and scope of completing the infrastructure in the estate.

These, the statement noted, include perimeter fencing, roads, drainage, security posts, shopping, and recreation centres.

He stated: 鈥淭he Ministry will offer the units for sale both to the public and for special government needs.

“For the public sale component, we will adopt a transparent and competitive process.”

The Minister as well averred: “This will include nationwide advertisement and the use of the Renewed Hope Portal where interested Nigerians can submit their Expressions of Interest.”

Dangiwa added: 鈥淲e are committed to making this a model of accountability and public benefit, and we look forward to working closely with the Commission to bring this effort to a successful conclusion.”

On symbolic, practical value of handing over recovered assets

Speaking on the handing over of the recovered properties to the Federal Government, Mr. Olanipekun Olukoyede, Executive Chairman of EFCC, highlighted the symbolic and practical value of the handover in demonstrating the government鈥檚 resolve to fight corruption.

Olukorede stated: 鈥淚t is important for us to demonstrate to Nigerians that whatever proceeds of crime that we have recovered in the course of our work, the application of that will be made transparent to Nigerians so that we will not allow looted assets to be looted again.”

The Chairman of EFCC disclosed the recovered estate from Emefiele, located on Plot 109, Cadastral Zone C09, Lokogoma District, Abuja, sits on a parcel of land, measuring over 150,000 square meters and contains hundreds of apartments.

The anti-graft regulator Commission would continue to monitor the Ministry鈥檚 efforts at completing the estate, and would provide periodic reports to President Bola Ahmed Tinubu.

Olukoyede also appreciated President Tinubu for enabling an environment conducive to effective anti-corruption enforcement, and acknowledged the Nigerian Judiciary for its support in ensuring accountability.

The Chairman said: 鈥淲e will monitor the completion and transparent disposal of the properties.”

Who 鈥榬eally鈥� owns the seized 753-unit housing estate?

It is recalled sprawling estate originally linked to former Central Bank of Nigeria Governor Emefiele.

绿帽献妻 gathered in the court documents the EFCC file, Emefiele and his associates purportedly acquired the estate, using illicit funds obtained through kickbacks from Foreign Exchange (Forex) allocations, and contracts awarded during his tenure as the CBN Chief.

The Commission’s investigation further revealed that Emefiele negotiated kickbacks in return for allocating Foreign Exchange to companies in need of it for their legitimate businesses.

Heal also allegedly received kickbacks from contractors, who got contracts from the banking sector regulator.

Report indicates the funds obtained through all these illicit means were used to acquire the estate.

The estate reportedly spans over 150,000 square meters, and comprises 753 duplexes and other apartments in their hundreds.

Legal battle before final forfeiture of estate to Nigeria

In December 2024, Justice Jude Onwuegbuzie of the Federal Capital Territory High Court, in Apo, had granted a final forfeiture order for the estate, following an earlier interim forfeiture order in November 2024.

The court held that the property was reasonably suspected to have been acquired with proceeds of unlawful activities.

Subsequently, Mr. Emefiele later filed a motion seeking to reclaim the estate, arguing that he was unaware of the forfeiture proceedings.

However, in April 2025, the court dismissed his application, stating that due process was followed and that Emefiele had sufficient opportunity to contest the forfeiture, but failed to act within the legally permissible timeframe.

After the legal hurdles cleared, the EFCC officially handed over the estate to the Ministry of Housing and Urban Development Tuesday, May 20, 2025. The Ministry of Housing and Urban Development is planning to assess and complete the estate鈥檚 infrastructure, offering the units for public sale and special government needs, thereby transforming a symbol of alleged corruption into a resource for public benefit.

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