Plans underway to sell units to the public, complete project for national use
The Federal Government has officially taken over a 753-unit housing estate in Abuja, previously linked to former Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, and recovered by the Economic and Financial Crimes Commission (EFCC).
The Executive Chairman of the EFCC, Mr. Olanipekun Olukoyede, handed over the estate to the Minister of Housing and Urban Development, Arc. Ahmed Dangiwa, on Tuesday, 20th May 2025, during a brief ceremony at the Ministry’s headquarters in Mabushi, Abuja.
Describing the handover as a major milestone, Minister Dangiwa lauded the EFCC's commitment to asset recovery and transparency. He noted that the Ministry would immediately begin joint inspections and assessments with EFCC officials to evaluate the state and structural integrity of the estate.
"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 stated.
He further disclosed that the Ministry would carry out a comprehensive technical evaluation to estimate the cost of completing key infrastructure, including perimeter fencing, roads, drainage, a police post, shopping and recreational centres, and other amenities.
According to the Minister, the estate units will be made available for public sale and also serve special government needs. “For the public sale component, we will adopt a transparent and competitive process, including nationwide advertisements and the use of the Renewed Hope Portal,” he added.
Dangiwa emphasised that the project would serve as a model of accountability and a demonstration of the Renewed Hope Agenda under President Bola Ahmed Tinubu.
In his remarks, EFCC Chairman Olukoyede said the handover was in line with the directive of President Tinubu to ensure recovered assets are put to use for public good. He highlighted the importance of transparency in the management of forfeited assets.
“It is important for us to demonstrate to Nigerians that whatever proceeds of crime we recover will be transparently applied to benefit the people, so that looted assets are not looted again,” he said.
Olukoyede revealed that the estate sits on a 150,462.86 square metre parcel of land at Plot 109, Cadastral Zone C09, Lokogoma District, Abuja, and comprises hundreds of residential apartments.
He added that the Commission would continue to monitor the completion process and provide regular feedback to the President.
The event concluded with the symbolic handover of the estate’s official documents to the Housing Minister, marking a new phase in the federal government’s asset recovery and redistribution strategy.
