Massive Estate Looted by Emefiele Now Up for Sale as FG Vows Nigerians Will Benefit from Recovered Properties Abuja

In what many are calling a landmark move in Nigeria’s war against corruption, the Federal Government has announced its decision to auction a sprawling 753-unit housing estate recovered from embattled former Central Bank Governor, Godwin Emefiele. The estate, located in the nation’s capital, Abuja, is now in the custody of the Ministry of Housing and Urban Development, marking one of the most significant asset seizures in Nigeria’s recent history.

According to a statement issued by Salisu Haiba, Director of Press and Public Relations at the ministry, the estate was formally handed over by the Economic and Financial Crimes Commission (EFCC) during a symbolic event at the Ministry’s headquarters in Mabushi.

Minister of Housing and Urban Development, Arc Ahmed Dangiwa, hailed the EFCC’s efforts, describing the asset recovery as “a bold stride towards restoring public trust in governance.” Dangiwa added that this marks a historic moment in redirecting stolen public wealth back into meaningful use for ordinary Nigerians.

“We are determined to ensure that recovered assets like this do not just lie idle or fall back into private hands. This estate will soon become a beacon of hope for many Nigerians,” Dangiwa declared.

The minister disclosed that the estate will undergo rigorous integrity and structural assessments to guarantee safety before it is listed for public purchase. He also confirmed that the sales process will be transparent and inclusive, with a national advertisement campaign and a digital application process via the Renewed Hope Portal.

“We’re not just selling houses — we are selling a renewed vision for Nigeria,” Dangiwa said, emphasizing that the estate would also serve specific government needs, possibly accommodating civil servants and low-income earners.

EFCC Chairman, Olanipekun Olukoyede, underscored the significance of the handover. Speaking passionately, he said the public should expect more recoveries and greater transparency going forward.

“Let it be known that looted assets will no longer be lost in the shadows. What belongs to the people must return to the people,” Olukoyede affirmed.

Emefiele, currently facing multiple charges of financial misconduct and abuse of office, is at the center of one of the most controversial corruption cases in Nigeria’s banking history. While the courts deliberate his fate, the Federal Government is pushing to ensure that none of the recovered assets fall back into private hands through dubious legal maneuvers.

The seized estate, which boasts hundreds of residential units, is believed to be just one of many multi-billion-naira properties acquired during Emefiele’s controversial tenure as CBN governor.