The Federal Government has finalised plans to sell a large estate connected to Godwin Emefiele, a former governor of the Central Bank of Nigeria, to Nigerians with modest and moderate incomes.
In December 2024, the Economic and Financial Crimes Commission retrieved the enormous property belonging to Emefiele, composed of 753 housing units.
The EFCC claims that since the agency’s founding in 2003, this is the biggest recovery of a single asset. Duplexes and various apartment kinds are included in its more than 150,000 square metre area.
The estate was retrieved after Justice Jude Onwuegbuzie of the Federal Capital Territory High Court in Abuja issued a final forfeiture judgement on December 2, 2024.
The property was connected to Emefiele in court records according to reports.
Emefiele filed a petition in an FCT High Court in April 2025 to recover the estate, which had previously been given up to the government. The court, however, rejected his application.
On Tuesday, May 20, 2025, the 753 housing units were formally turned over to Ahmed Dangiwa, the Minister of Housing and Urban Development, by EFCC Chairman Ola Olukoyede.
Badamasi Haiba, the Director of Press and Public Relations at the Ministry of Housing, told Saturday PUNCH that the government will make sure that regular Nigerians benefited in accordance with President Bola Tinubu’s Renewed Hope Agenda.
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He pointed out that the estate was still being built and that before determining the terms of sale and distribution, the government will first carry out structural and integrity evaluations.
He waved off rumours that the houses would go to the powerful.
Mr. Moses Ogunleye, a former president of the Association of Town Planning Consultants of Nigeria, questioned if the homes would be useful to those with lower incomes.
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