On Tuesday, the Ministry of Housing and Urban Development confirmed that it had taken possession of the property following a formal handover by the Economic and Financial Crimes Commission (EFCC) at the ministry’s headquarters in Mabushi.

The Nigerian Government has announced plans to sell a 753-unit housing estate in Abuja, which was recovered from the former Central Bank Governor Godwin Emefiele, who is currently on trial for multiple financial crimes.

On Tuesday, the Ministry of Housing and Urban Development confirmed that it had taken possession of the property following a formal handover by the Economic and Financial Crimes Commission (EFCC) at the ministry’s headquarters in Mabushi.

In a statement signed by Salisu Haiba, Director of Press and Public Relations, the ministry said: “The Ministry of Housing and Urban Development has taken delivery of the 753 housing units in Abuja, recovered from the former Central Bank Governor, Godwin Emefiele, by the EFCC.”

Minister of Housing and Urban Development, Arc Ahmed Dangiwa, praised the EFCC’s efforts in combating corruption and recovering assets.

“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,” Dangiwa said.

He revealed that a joint tour of the estate would soon be conducted.

“We intend to carry out thorough integrity and structural assessments on all buildings and associated infrastructure to confirm their safety and suitability for habitation,” he added.

Dangiwa further disclosed that the housing units would be sold through a transparent process.

“For the public sale component, we will adopt a transparent and competitive process.

“This will include a nationwide advertisement and the use of the Renewed Hope Portal where interested Nigerians can submit their Expressions of Interest,” he stated.

Speaking during the handover, EFCC Chairman, Olanipekun Olukoyede, underscored the significance of the event.

“It is important for us to demonstrate to Nigerians that whatever proceeds of crime we recover will be applied transparently and in a manner that benefits the public,” he said.

“We will not allow looted assets to be looted again,” Olukoyede concluded.

SaharaReporters previously reported that Justice Jude Onwuegbuzie ordered the final forfeiture of an estate in Abuja, measuring 150,500 square metres and containing 753 Units of duplexes and other apartments. 

The EFCC said in a release that it was the single largest asset recovery by the Commission since its inception in 2003.

The estate rests on Plot 109 Cadastral Zone C09, Lokogoma District, Abuja.

"The forfeiture of the property to the federal government by a former top brass of the government was pursuant to EFCC’s mandate and policy directive of ensuring that the corrupt and fraudulent do not enjoy the proceeds of their unlawful activities,” the EFCC said.

"In this instance, the Commission relied on Section 17 of the Advance Fee Fraud And Other Fraud Related Offences Act No 14, 2006 and Section 44 (2) B of the Constitution of the 199 Constitution of the Federal Republic of Nigeria to push its case.”

In ruling on the Commission’s application for the final forfeiture of the property, Justice Onwuegbuzie held that the respondent had not shown cause as to why he should not lose the property, “which has been reasonably suspected to have been acquired with proceeds of unlawful activities. The property is hereby finally forfeited to the federal government.”

An interim forfeiture order secured before the same judge on November 1, 2024, paved the road to the final forfeiture of the property.

The justification for the forfeiture is derived from Part 2, Section 7 of  the EFCC Establishment Act, which stipulates that the EFCC “has power to cause investigations to be conducted as to whether any person, corporate body or organisation has committed any offence under this Act or other law relating to economic and financial crimes and cause investigations to be conducted into the properties of any person if it appears to the Commission that the person’s lifestyle and extent of the properties are not justified by his source of income.”

Olukoyede has repeatedly described asset recovery as pivotal in the fight against corruption, economic and financial crimes and a major disincentive against the corrupt and the fraudulent.