…Unfinished estate to be completed and sold publicly under Tinubu’s directive
The federal government has formally taken possession of 753 residential duplexes in Abuja, previously linked to Godwin Emefiele, former Central Bank Governor, as part of a major asset forfeiture executed by the Economic and Financial Crimes Commission (EFCC).
The EFCC handed over the sprawling, yet unfinished housing estate—located in the Lokogoma district of the capital—to the Ministry of Housing and Urban Development on Tuesday.
The move follows a directive from President Bola Tinubu to repurpose the seized properties for public use.
Ahmed Dangiwa, the housing minister, confirmed receipt of the estate and said the government plans to complete the development and allocate the homes through a transparent and accountable sales process.
“This handover represents a significant milestone in the administration’s commitment to repositioning recovered assets for the benefit of Nigerians,” Dangiwa said in a statement.
“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.
The EFCC, led by its Chairman, Ola Olukoyede, said the estate was recovered following extensive investigations tied to Emefiele’s tenure at the Central Bank of Nigeria, during which the former governor has faced a slew of corruption-related probes.
Though details of the legal process surrounding the asset forfeiture were not disclosed on Tuesday, the Tinubu administration has prioritised the recovery of ill-got public assets and their reintegration into the economy.
Emefiele, who was suspended in mid-2023, has faced multiple allegations of abuse of office, though he denies any wrongdoing.
Dangiwa said the ministry will move quickly to complete all outstanding work on the estate, including roads, drainage systems, and other critical infrastructure.
“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.
The mass housing intervention aligns with President Tinubu’s broader social agenda to improve homeownership and reduce the national housing deficit, particularly among middle- and lower-income Nigerians.
The Lokogoma development is one of the largest single residential estates to be repurposed under Tinubu’s watch and could become a test case for how recovered assets are reintegrated into national development priorities.
Olukoyede emphasised that the government’s approach is “anchored on transparency, accountability, and efficiency.”
“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,” Olukoyede said.
“We will not allow looted assets to be looted again.”
