Photo caption: Emefiele and President Tinubu
The Federal Ministry of Housing has said Nigerians will soon have the opportunity to own homes in a 753-duplex housing estate in Abuja, originally linked to former Central Bank Governor Godwin Emefiele and confiscated by the Economic and Financial Crimes Commission.
The ministry also said the Economic and Financial Crimes Commission handed over the property on Tuesday at the Ministry’s headquarters in Mabushi, Abuja. The Director of Press and Public Relations at the ministry, Salisu Haiba, said this on Tuesday in a statement.
This came as stakeholders in the housing sector called for the transparent sale of the 753 housing units, stressing that the properties should not be looted again by government officials.
“The 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,” the ministry stated in its statement.
The Minister of Housing and Urban Development, Ahmed Dangiwa, praised the EFCC for its sustained commitment to asset recovery and anti-corruption.
“This 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,” Dangiwa said.
He announced that the ministry, in collaboration with the EFCC, will undertake a joint familiarization tour to assess the current state of the estate.
“We intend to carry out thorough integrity and structural assessments on all buildings and associated infrastructure to confirm their safety and suitability for habitation,” he explained.
The minister also detailed plans for a comprehensive technical evaluation to determine the cost and scope of completing the estate’s infrastructure, including perimeter fencing, roads, drainage, security posts, shopping, and recreation centers.
“The 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. This will include nationwide advertisement and the use of the Renewed Hope Portal where interested Nigerians can submit their Expressions of Interest,” Dangiwa added.
He emphasized that the initiative would stand as a model of accountability. “We 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,” he said.
The EFCC Chairman, Olanipekun Olukoyede, highlighted the symbolic and practical value of the handover in demonstrating the government’s resolve to fight corruption.
“It 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,” he stated.
Olukoyede said the estate, 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. He revealed that the commission would continue to monitor the Ministry’s efforts to complete the estate and would provide periodic reports to President Bola Tinubu.
He thanked President Tinubu for enabling an environment conducive to effective anti-corruption enforcement and acknowledged the judiciary for its support in ensuring accountability.
“We will monitor the completion and transparent disposal of the properties,” Olukoyede affirmed.
However, our correspondent reports that the specific prices at which the units will be sold have not been disclosed.
The PUNCH earlier reported that the 753-unit estate in Lokogoma, Abuja, now under the custody of the Federal Ministry of Housing and Urban Development, was originally linked to former Central Bank of Nigeria Governor, Godwin Emefiele.
According to court documents filed by the Economic and Financial Crimes Commission, Emefiele and his associates allegedly acquired the estate using illicit funds obtained through kickbacks from foreign exchange allocations and contracts awarded during his tenure at the CBN.
The EFCC’s investigation revealed that Emefiele negotiated kickbacks in return for allocating foreign exchange to companies in need of it for their legitimate businesses. Additionally, he allegedly received kickbacks from contractors who were awarded contracts by the CBN.
The funds obtained through these illicit means were used to acquire the estate, which spans over 150,000 square meters and comprises 753 duplexes and other apartments.
In December 2024, Justice Jude Onwuegbuzie of the Federal Capital Territory High Court in Apo 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.
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.
With the legal hurdles cleared, the EFCC officially handed over the estate to the Ministry of Housing and Urban Development on May 20, 2025. The Ministry plans to assess and complete the estate’s infrastructure, offering the units for public sale and special government needs, thereby transforming a symbol of alleged corruption into a resource for public benefit.
Stakeholders demand transparency
In an exclusive interview with The PUNCH, the Executive Secretary, Association of Housing Corporation of Nigeria, Toye Eniola, lauded the public sale move by the housing ministry, but called for transparency.
“There is nothing wrong in doing a public sale, the money of the public was used to develop the properties, hence if the culprit is caught and such estate is recovered by the government, and given to the public on sale, it is not an issue.
“However, where I have an issue is that I hope it goes to the right public, and the right people who need houses. I hope these houses will not be sold to themselves and people in the government. This is where the issue is,” he stated.
Also, the Chief Executive Officer of Ace Hi-Tech Construction Co. Ltd., Adewunmi Okupe, backed the public sale of the estate.
He said, “I quite agree that the buildings will be sold publicly. However, they should not be sold as they are because they will end up being bought by the cronies of the former CBN governor. The houses look so gigantic. Before they are sold, the houses should be remodeled into at least four new units each by the housing ministry. This will give us about 3,012 housing units.
“Then, the houses can be transparently sold to the public. The proceeds should now form a special revolving fund for the provision of at least 3000 lower-cost housing units per cycle. This will help much in reducing the housing deficit.”
Meanwhile, the President, Fajiri Construction Limited, Stephen Eke, asserted that there is a probability of bias.
He said, “This is good news, but we worry that the same people who recovered it will still be the same clients to buy it without the general public. We are just existing in the same Nigeria, but only a few are taking our prosperity for their unborn generation.”
Reacting to the development, the Chief Executive Officer of Space Button Architecture, Seyi Amusan, said the news about the property taken over by the FG from the former CBN governor of the past regime was encouraging on paper.
He continued, “It’s always a thing of hope for the common citizens of our nation when such cases of unjust possessions of funds and properties by individuals, during their time of service in public office are brought to book.
“However, I have a few concerns which explain the transparency and effectiveness of these properties getting to the ordinary Nigerians as proposed by the Minister of Housing and Urban Development, Ahmed Dangiwa.”
Amusan asked whether the actual value of the properties would not be a factor during the sale.
He said, “Besides the structural integrity test to establish the structural stability of the said buildings before they are sold, there is also a need to consider the cost of the construction of these buildings to their present state. Considering the mode of sales highlighted, which is proposed to be a transparent and competitive one, it’s important to know if the actual value of each property would not be a factor during the sales.
“On the other hand, if this were a factor, would the buildings that are expected to support the renewed hope for the homeless be affordable? And if it were to be auctioned, would it give an even ground for the average Nigerian who desperately needs a home for himself, or would this just be a superficial exercise that makes the rich get richer?
“Lastly, it’s also important to consider the decision to make the properties equally available for the present government. The types and number of units required should be made public, and the purpose of the acquisition should also be made clear for the sake of transparency and accountability. This would help eradicate any such impression that this government is not engaging in such practices as the former CBN governor.”
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