In a significant move against corruption, the Federal Government of Nigeria has announced plans to sell a 753-unit housing estate in Abuja, forfeited by former Central Bank Governor Godwin Emefiele. The Economic and Financial Crimes Commission (EFCC) handed over the estate to the Ministry of Housing and Urban Development on May 20, 2025, following a court-ordered forfeiture.
Background: The Forfeiture
The estate, located in the Lokogoma District of Abuja, was seized after investigations revealed it was acquired with proceeds from unlawful activities. In December 2024, Justice Jude Onwuegbuzie of the Federal Capital Territory High Court granted a final forfeiture order, citing the inability of the former CBN governor to prove legitimate ownership.
Government's Plan for the Estate
Minister of Housing and Urban Development, Arc Ahmed Dangiwa, stated that the ministry would conduct thorough structural assessments to ensure the buildings' safety and suitability for habitation. The estate will then be sold through a transparent and competitive process, including nationwide advertisements and the use of the 'Renewed Hope Portal' for interested buyers.
Significance of the Asset Recovery
The 753-unit estate represents the EFCC’s largest single-asset recovery since its establishment in 2003. EFCC Chairman Olanipekun Olukoyede emphasized the importance of transparency in managing recovered assets, ensuring they benefit the Nigerian people and are not re-looted.
Public Reaction
Senator Shehu Sani praised the EFCC's transparent handling of the asset, noting that in the past, such properties might have been dubiously auctioned to proxies. He commended the agency for setting a new standard in asset recovery and management.
Conclusion
The sale of the forfeited estate marks a significant milestone in Nigeria's fight against corruption. By repurposing recovered assets for public benefit, the government demonstrates its commitment to accountability and transparency.
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