A combined picture of Godwin Emefiele and the forfeited estate
By Victory Oghene
Going by any unforseen hiccups
Low and middle-income Nigerians will acquire the 753 housing recovered from embattled former Governor of Central Bank of Nigeria (CBN) Godwin Emefiele by the Economic and Financial Crimes Commission in December 2024.
NATIONAL WAVES learnt that the Federal Government has concluded arrangements to sell the sprawling estate to average Nigerians.
According to the EFCC, it is the largest single asset recovery since the agency’s inception in 2003. It covers over 150,000 square metres and includes duplexes and other apartment types.
The estate was recovered following a final forfeiture order issued on December 2, 2024, by Justice Jude Onwuegbuzie of the Federal Capital Territory High Court in Abuja.
Court documents filed by the EFCC and obtained by our correspondent linked the property to Emefiele.
In April 2025, Emefiele approached an FCT High Court in a bid to reclaim the estate, which had already been forfeited to the government.
He accused the EFCC of deliberately concealing the forfeiture proceedings from him, despite frequent interactions with the agency regarding other pending charges.
His application was, however, dismissed by the court.
The EFCC Chairman, Ola Olukoyede, on Tuesday, May 20, 2025, officially handed over the 753 housing units to the Minister of Housing and Urban Development, Ahmed Dangiwa.
Speaking with newsmen, the Director of Press and Public Relations at the Ministry of Housing, Badamasi Haiba, said the government, in line with President Bola Tinubu’s Renewed Hope Agenda, would ensure that ordinary Nigerians benefitted.
He noted that the estate was still under construction, and the ministry would first conduct structural and integrity assessments before deciding on the modalities of sale and allocation.
“Next would be to profile the houses and decide how they will be sold to Nigerians. However, the intention of the minister has always been homeownership for all categories of Nigerians, including low and middle-income earners – so we should expect to see such intentions play out here, all-inclusive,” Haiba added.
On the mode of selling, he said the ministry’s portal would be used, promising that the payment options would be flexible.
He said, “Homes sold by the ministry will always have flexible payment options, including mortgage, instalment, rent-to-own payment, etc., whether in this case or any other.
“These are just 753 units. The ministry has over 10,000 houses nearing completion nationwide under the Renewed Hope Housing Programme.
“The ministry has a web portal developed where sales of these houses are done – renewedhopehomes.fmhud.gov.ng. The minister has already stated that the same process will be adopted in selling these confiscated houses.”
