The Ministry of Housing and Urban Development has taken control of a 753-unit housing estate formerly owned by ex-Central Bank Governor Godwin Emefiele, transforming recovered assets into public housing.
During yesterday’s handover ceremony in Abuja, EFCC Chairman Olanipekun Olukoyede transferred the Lokogoma District property to Housing Minister Ahmed Dangiwa, calling it a demonstration of “President Tinubu’s commitment that recovered proceeds of crime will never again be lost in administrative black holes.”
The estate, spanning over 150,462 square meters, was seized through a civil forfeiture order after investigations determined it could not have been legitimately acquired.
Minister Dangiwa outlined a three-phase plan including structural assessments, infrastructure completion, and a transparent allocation process through the Ministry’s Renewed Hope Portal. While some units will fulfill government needs, most will be available to the public.
“Converting recovered assets directly into accessible housing could create a virtuous cycle where corruption recovery directly funds development priorities,” noted urban development expert Dr. Fatima Abdulrazaq.
The Ministry expects the first units to be available by early 2026, establishing what may become a template for future management of forfeited properties in Nigeria.
