In a bold move to repurpose assets tied to financial misconduct, the Federal Government has revealed plans to put up for sale a 753-unit housing estate recovered from the former Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele.
The disclosure was made via an official statement issued on Tuesday in Abuja by Salisu Haiba, Director of Press and Public Relations at the Ministry of Housing and Urban Development.
According to Haiba, the sprawling estate—comprised of 753 duplex-style residential units—was handed over to the ministry by the Economic and Financial Crimes Commission (EFCC) as part of its ongoing asset recovery initiatives. The properties, he noted, will be sold to both the general public and for designated government purposes.
The EFCC’s Executive Chairman, Ola Olukoyede, formally transferred the estate to Housing Minister Ahmed Dangiwa. Dangiwa applauded the anti-corruption agency for its continued drive to retrieve stolen national assets and ensure their productive use.
Dangiwa stated that a collaborative tour involving EFCC officials and ministry representatives will be conducted to thoroughly evaluate the estate’s current state. He emphasised that the buildings would undergo structural integrity inspections, while a detailed technical review would determine the cost of completing necessary infrastructure.
The assessment, he said, would include unfinished features such as perimeter fencing, road networks, drainage systems, a police post, retail outlets, leisure centres, and other essential amenities. Upon final evaluation, the ministry intends to offer the housing units through a fair and competitive process.
“The sale will involve a national advertisement campaign and use of the Renewed Hope Portal, where interested Nigerians can formally express interest,” the minister explained.
EFCC Chairman Olukoyede described the property handover as a testament to the growing effectiveness of Nigeria’s anti-graft operations. He stressed that forfeited assets must be transparently repurposed for public benefit and revealed that President Bola Tinubu directed the estate be allocated to the Housing Ministry for completion and resale.
The property sits on 150,462.86 square meters of land at Plot 109, Cadastral Zone CO9, Lokogoma District, Abuja. Olukoyede added that EFCC would periodically monitor progress and relay updates to the Presidency.
He further commended President Tinubu for bolstering the anti-corruption fight through policy support, and acknowledged the judiciary for enabling the lawful recovery of proceeds of crime.
