The Federal Ministry of Housing and Urban Development has formally assumed ownership of a 753-unit residential estate previously linked to former Central Bank of Nigeria (CBN) Governor, Godwin Emefiele. The property was handed over by the Economic and Financial Crimes Commission (EFCC) following its forfeiture as part of ongoing corruption investigations.
The Executive Chairman of the Economic and Financial Crimes Commission (EFCC), Olanipekun Olukoyede, on Tuesday, May 20, officially transferred ownership of a forfeited housing estate to the Federal Ministry of Housing and Urban Development. The handover ceremony took place at the Ministry’s headquarters in the Mabushi district of Abuja.
Receiving the property, Minister of Housing and Urban Development, Arc Ahmed Dangiwa, lauded the EFCC’s leadership under Olukoyede for its unwavering commitment to the anti-corruption crusade and for reclaiming public assets for national use. He emphasized that the recovery and repurposing of such assets align with the government’s broader objective of ensuring accountability and putting recovered resources to productive, people-centered use.
“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.
“We intend to carry out thorough integrity and structural assessments on all buildings and associated infrastructure to confirm their safety and suitability for habitation,” the minister stated.
Read also: Court Orders Forfeiture Of $4.7m, ₦830m Linked To Emefiele
The minister further explained that, a comprehensive technical evaluation will be undertaken to determine the cost of completing all outstanding infrastructure and ancillary facilities, including perimeter fencing, internal roads, drainage systems, a police post, shopping areas, recreational centers, and other essential amenities.
“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,” he remarked.
In his remarks during the handover ceremony, EFCC Chairman Olanipekun Olukoyede described the transfer of the forfeited property as a testament to the tangible progress being made in Nigeria’s anti-corruption drive, in line with President Bola Tinubu’s Renewed Hope Agenda.
Olukoyede recounted that the investigation into the estate began in the previous year, ultimately culminating in a court-ordered civil forfeiture, based on the premise that the ownership of the property could not be lawfully justified.
He further underscored the importance of transparency and responsible stewardship in the management of recovered assets. According to him, President Tinubu had issued a clear directive that the estate be handed over to the Ministry of Housing and Urban Development for its completion and productive deployment.
“It is important for us to demonstrate to Nigerians that whatever proceed of crime that we had 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 said.
EFCC Chairman Olanipekun Olukoyede disclosed that the seized estate comprises several hundred residential units, occupying a land area of approximately 150,462.86 square meters. The property is situated at Plot 109 within the Cadastral Zone C09 of the Lokogoma District in Abuja.