Abuja | May 21, 2025 — The Federal Government has officially taken possession of a 753-unit housing estate in Abuja, confiscated from former Governor of the Central Bank of Nigeria, Mr. Godwin Emefiele, and pledged to repurpose it for public and special government use.
The handover ceremony took place at the headquarters of the Federal Ministry of Housing and Urban Development in Mabushi, Abuja, where EFCC Chairman, Mr. Ola Olukoyede, formally presented the estate documents to the Minister of Housing, Ahmed Dangiwa.
A Symbol of Asset Recovery and National Benefit
Dangiwa commended the Economic and Financial Crimes Commission (EFCC) for its diligence and integrity in recovering looted public assets. He said the recovery and reassignment of the housing estate marked a “significant milestone” in ensuring that such assets are redirected to benefit the Nigerian people.
“The housing estate recovered from the former CBN governor is a case in point. It will now serve the interests of Nigerians under a transparent and accountable process,” the minister said.
Thorough Assessment and Public Sale to Follow
The Ministry, according to Dangiwa, will undertake a joint familiarisation tour with EFCC officials to assess the state of the property, located on Plot 109, Cadastral Zone C09, Lokogoma District, covering 150,462.86 square meters.
He announced that:
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A comprehensive structural and technical evaluation will be conducted to ensure all buildings and infrastructure meet safety standards.
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The government will complete all outstanding infrastructure, including roads, drainage, fencing, police post, shopping and recreation areas.
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The housing units will be sold to the public through a transparent nationwide application process via the government’s ‘Renewed Hope Portal’.
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Units will also be allocated for special government needs.
“We are committed to making this a model of accountability and public benefit,” Dangiwa added.
EFCC: This is Justice in Action
In his remarks, EFCC Chairman, Mr. Olukoyede, described the handover as a landmark in the ongoing fight against financial crime, noting that the investigation into the estate began in 2024 and led to a court-ordered civil forfeiture.
“We concluded no individual could have acquired such an estate legitimately. This is part of the Renewed Hope Agenda in action,” Olukoyede stated.
He underscored the importance of transparency in the handling of recovered assets, noting that President Tinubu directed the handover to the Housing Ministry to ensure the property is completed and utilized effectively.
“It’s not enough to recover assets—we must ensure they are not looted again,” he warned.
EFCC to Monitor Completion and Use
Olukoyede said the EFCC will periodically monitor the project and provide updates to the presidency. He praised the judiciary for backing the anti-corruption drive and commended President Tinubu for creating an enabling environment to combat financial crimes.
Next Steps: Renewed Hope in Action
This development aligns with President Tinubu’s Renewed Hope Agenda, which seeks to revive public trust in governance, maximize the use of recovered assets, and provide sustainable housing options to Nigerians.
With over 753 units soon available through a transparent sale process, the government hopes to turn a symbol of alleged corruption into a beacon of accountability and public service.