FG takes over, set to sell 753-Unit Estate forfeited by Ex-CBN Governor Emefiele

The Federal Government has officially taken possession of a 753-unit housing estate in Abuja forfeited by embattled former Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, and announced plans to sell the property to the public.

The Ministry of Housing and Urban Development confirmed the development on Tuesday, following a formal handover by the Economic and Financial Crimes Commission (EFCC) at its headquarters in Mabushi, Abuja.

According to a statement issued by Salisu Haiba, Director of Press and Public Relations at the Ministry, the housing units — recovered as part of assets seized from Emefiele — will now be put to productive use for Nigerians.

The Minister of Housing and Urban Development, Arc Ahmed Dangiwa, commended the EFCC for its asset recovery drive, describing the move as a milestone in ensuring that ill-gotten wealth is converted to public benefit.

Dangiwa disclosed that a joint tour would be conducted to assess the condition of the estate, alongside thorough integrity and safety evaluations before the property is offered for sale.

“We intend to conduct structural and infrastructure assessments to confirm suitability for habitation,” Dangiwa said.

He announced that the estate would be sold through a transparent, competitive process. “There will be a nationwide advertisement and the Renewed Hope Portal will be used for interested Nigerians to submit their Expressions of Interest,” he added.

During the handover, EFCC Chairman, Olanipekun Olukoyede, stressed the importance of the gesture as a practical demonstration of the government’s anti-corruption commitment.

“It’s crucial to show Nigerians that proceeds of crime will be transparently applied for public good. We will not allow looted assets to be looted again,” Olukoyede stated.

Emefiele, currently standing trial for multiple financial crimes, had forfeited the estate to the government following investigations by the anti-graft agency.