In a move to convert recovered assets into public benefit, the federal government has announced plans to sell a 753-unit housing estate in Abuja that was confiscated from former Central Bank Governor Godwin Emefiele. The estate, which consists of duplexes and apartments in varying stages of completion, is located on the outskirts of the capital city.
Minister of Housing and Urban Development, Ahmed Dangiwa, made the disclosure in a statement, revealing that the estate, situated in Lokogoma District, was formally handed over by the Economic and Financial Crimes Commission (EFCC) to the Ministry.
According to the Ministry, the estate is the largest single asset ever recovered by the EFCC since its establishment in 2003. It occupies Plot 109, Cadastral Zone C09, and spans 150,500 square metres.
Commending the anti-graft agency’s efforts, Dangiwa stated, “This marks a significant milestone in our collective determination to ensure that recovered assets are used in ways that directly benefit Nigerians.”
He further disclosed that a joint technical tour would be undertaken to evaluate the integrity and structural conditions of all buildings and infrastructure within the estate.
Regarding the upcoming sale, Dangiwa assured Nigerians of a fair and open process. “We will adopt a competitive and transparent process, including nationwide advertisement and use of the Renewed Hope Portal, where interested Nigerians can submit Expressions of Interest,” he stated.
During the official handover ceremony, EFCC Chairman Ola Olukoyede emphasized the agency’s commitment to ensuring that recovered assets are channeled into productive uses. “We must show Nigerians that proceeds of crime will be transparently recovered and repurposed for the public good. We will not allow looted assets to be looted again,” Olukoyede said.
Background on the Forfeiture:
- The property was forfeited under Section 17 of the Advance Fee Fraud and Other Fraud-Related Offences Act, 2006, and Section 44(2)(b) of the 1999 Constitution.
- The EFCC argued that the estate was acquired through the proceeds of unlawful activity.
- A final forfeiture was granted after an interim order was secured in November 2024.
- In his ruling, Justice Onwuegbuzie noted that the respondent failed to establish legitimate ownership of the estate, which was “reasonably suspected to have been acquired with proceeds of unlawful activities.”
The Ministry has yet to release a specific timeline for the sale but is expected to provide more details once the structural assessments are completed.
