FG to sell the confiscated 753-duplex housing estate owned by Emefiele to Nigerians

The Federal Ministry of Housing will sell a 753-duplex estate in Abuja, confiscated from former CBN Governor Godwin Emefiele, to Nigerians, pledging a transparent and competitive process amidst stakeholder calls for accountability

[dropcap]T[/dropcap]he Federal Ministry of Housing and Urban Development has announced that a sprawling 753-duplex housing estate in Abuja, previously linked to former Central Bank Governor Godwin Emefiele and confiscated by the Economic and Financial Crimes Commission (EFCC), will soon be made available for Nigerians to own.

Also read: Court orders forfeiture of Emefiele’s $2.4m, Lagos, Delta assets

The property was officially handed over to the ministry on Tuesday at its headquarters in Mabushi, Abuja.

This significant development comes amidst calls from housing sector stakeholders for a transparent sale process, urging that the properties should not fall victim to further looting by government officials.

The Minister of Housing and Urban Development, Ahmed Dangiwa, lauded the EFCC for its unwavering commitment to asset recovery and anti-corruption efforts.

“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 stated.

The ministry plans a joint familiarization tour with the EFCC to assess the estate’s current condition.

Dangiwa explained, “We intend to carry out thorough integrity and structural assessments on all buildings and associated infrastructure to confirm their safety and suitability for habitation.”

Following this, a comprehensive technical evaluation will determine the cost and scope of completing the estate’s infrastructure, including perimeter fencing, roads, drainage, security posts, and recreational centers.

The units will be offered for sale to both the public and for special government needs.

For public sales, the ministry committed to a “transparent and competitive process,” including nationwide advertisement and applications via the “Renewed Hope Portal.”

Dangiwa emphasized that this initiative would serve as a model of accountability.

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.

EFCC Chairman Olanipekun Olukoyede highlighted the symbolic and practical importance of the handover, demonstrating the government’s resolve against 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,” Olukoyede affirmed.

He added that the EFCC would monitor the completion and transparent disposal of the properties, providing periodic reports to President Bola Tinubu.

The estate, located on Plot 109, Cadastral Zone C09, Lokogoma District, Abuja, spans over 150,000 square meters and comprises hundreds of apartments.

Court documents indicate that Emefiele and his associates allegedly acquired the estate using illicit funds from kickbacks related to foreign exchange allocations and CBN contracts during his tenure.

The property was finally forfeited to the Federal Government in December 2024 by a Federal Capital Territory High Court, following an earlier interim forfeiture order.

Emefiele’s attempt to reclaim the estate was dismissed by the court in April 2025, clearing the legal path for the handover.

However, concerns about transparency persist among stakeholders. Toye Eniola, Executive Secretary of the Association of Housing Corporation of Nigeria, while supporting the public sale, stressed the need for it to reach “the right public” and not be “sold to themselves and people in the government.”

Adewunmi Okupe, CEO of Ace Hi-Tech Construction Co. Ltd., suggested remodeling the large units into smaller, more affordable ones to increase availability and create a revolving fund for lower-cost housing.

Stephen Eke, President of Fajiri Construction Limited, expressed worry about potential bias, stating, “We worry that the same people who recovered it will still be the same clients to buy it without the general public.”

Also read: EFCC opposes former CBN governor Godwin Emefiele’s passport release for medical trip

Seyi Amusan of Space Button Architecture questioned the affordability of the units if sold at actual market value and sought clarity on units allocated for government needs to ensure transparency.