The Federal Government has announced plans to sell 753 housing units confiscated from former Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, following a high-profile asset recovery by the Economic and Financial Crimes Commission (EFCC).
The development was confirmed in a statement issued by the Federal Ministry of Housing and Urban Development after the Minister, Ahmed Dangiwa, and EFCC Chairman, Olanipekun Olukoyede, led a joint inspection of the seized estate.
The massive residential estate linked to Emefiele was recovered by the EFCC in December 2024 after a final forfeiture order was granted by Justice Jude Onwuegbuzie of the Federal Capital Territory High Court. The property spans over 150,000 square metres, making it the single largest real estate seizure in the EFCC’s history since its founding in 2003.
“This recovery marks a significant milestone in Nigeria’s anti-corruption efforts,” said Minister Dangiwa. “We will begin immediate technical assessments, including structural integrity tests, to determine which buildings are fit for completion and sale.”
The estate, which includes a mix of duplexes and other residential units, is to be made available to the public through the Renewed Hope Portal, the Ministry’s flagship housing initiative aimed at making homeownership more accessible to Nigerians.
Dangiwa praised the EFCC’s efforts, calling the asset recovery “historic,” and reiterated the administration’s zero-tolerance stance on corruption.
“This is a clear message to public officials looted assets will be recovered, repurposed, and returned to serve the people,” the minister declared.
He urged Nigerians to support the EFCC’s mission and maintain trust in its operations, especially as more properties are expected to be reclaimed for public benefit.
At the site, EFCC Chairman Olanipekun Olukoyede stressed the importance of public transparency and assured that the commission followed due legal process throughout.
“What many Nigerians saw on television were drone images. Today, we’re showing that this estate is real and recoverable,” he stated.
The EFCC revealed that the seized housing estate is the largest single asset recovery ever executed by the commission. It was officially handed over to the Ministry of Housing following a directive from President Bola Tinubu, as part of broader efforts to rechannel recovered assets into national development initiatives.
In a legal twist earlier this year, Emefiele attempted to reclaim the estate through the courts, alleging that the EFCC had concealed the forfeiture process from him. His request was struck out by the court in April 2025, reaffirming the government’s legal ownership.
