The Federal Government has announced plans to sell 753 housing units recovered from former Central Bank of Nigeria (CBN) Governor Godwin Emefiele, as part of ongoing efforts to recover and repurpose the proceeds of crime.

The development was confirmed on Tuesday in a statement by the Director of Press and Public Relations at the Ministry of Housing and Urban Development, Salisu Haiba, Tuesday evening.

According to the statement, the Economic and Financial Crimes Commission (EFCC) handed over the estate containing the mansions to the Minister of Housing and Urban Development, Ahmed Dangiwa.

They are located on a 150,462.86 square metre at Plot 109, Cadastral Zone C09, Lokogoma District, Abuja.

The EFCC Chairman, Olanipekun Olukoyede, said President Bola Tinubu ordered the transfer of the mansions as part of a broader effort to ensure recovered assets are used productively.

He emphasised the importance of transparency and accountability in the management of forfeited properties.

Olukoyede also pledged that the EFCC would monitor the completion of the project and provide regular updates to the Presidency.

The minister (Dangiwa) commended the EFCC’s leadership for its continued commitment to combating corruption and recovering public assets.

He revealed that the Ministry would conduct a joint assessment of the estate with the EFCC to evaluate the buildings’ structural integrity and the status of supporting infrastructure.

The Minister added that the housing units would be made available for both public sale and special government needs.

The public sale will be managed through a transparent, competitive process involving nationwide advertisements and applications via the Renewed Hope Portal.

Backstory

The EFCC had obtained a court injunction to permanently forfeit the property to the Federal Government.

The EFCC on Monday, December 2, 2024, announced the recovery of what it described as the “largest ever” seized assets but withheld the name of the person linked to the property.

Emefiele, through his lawyer, A.M. Kotoye, a senior advocate, later filed a motion as an interested party.

Emefiele, who served the majority of his ten-year term under former President Muhammadu Buhari, has been involved in multiple corruption cases.

In November 2023, Emefiele was sent to Kuje Correctional Centre over an alleged N1.6 billion procurement fraud after he was arraigned on a six-count charge before an FCT High Court on Friday, November 17.

In another case involving the former CBN governor in April 2024, a Lagos State High Court granted N50 million bail to him for abuse of office and other infractions.

The EFCC also claimed that Emefiele made an arbitrary decision in Lagos between 2020 and 2021 by allocating foreign exchange of $291,945,785.59 without calling for bids, which the prosecutor said was an abuse of his office as the CBN governor.

Among other accusations, Emefiele was also said to have arbitrarily taken another decision in 2021 by allocating foreign exchange worth $1,769,254,793.16, which the EFCC said made him violate and abuse his position as the CBN governor.