The Federal Ministry of Housing and Urban Development has issued a clarification on Saturday, May 24, 2025, stating that it has not yet commenced any process for the sale of the 753-unit housing estate recovered from former Central Bank Governor Godwin Emefiele by the Economic and Financial Crimes Commission (EFCC).
This announcement comes amid widespread reports that the Federal Government plans to sell the sprawling estate to low- and middle-income Nigerians. The estate, located in Abuja and comprising duplexes and other apartment types, was recovered by the EFCC in December 2024 following a final forfeiture order by the Federal Capital Territory High Court. It is considered the largest single asset recovery since the EFCC's inception in 2003.
While the Ministry confirmed receiving the estate from the EFCC on May 20, 2025, and has begun technical assessments including structural integrity tests, it emphasized that no sale or allocation has started. The Ministry is currently evaluating the buildings and infrastructure to determine the cost of completing necessary works such as fencing, roads, drainage, and other facilities.
The Minister of Housing and Urban Development, Ahmed Dangiwa, reiterated the government's commitment to transparency and accountability in managing recovered assets. He noted that once the technical evaluations are completed, the units will be made available for sale through a transparent and competitive process, likely utilizing the Renewed Hope Housing Portal, which is already operational.
EFCC Chairman Olanipekun Olukoyede, who handed over the estate to the Ministry, highlighted the importance of public trust and transparency, stating that the visit to the estate was to show Nigerians the reality of the recovery and to assure that the property will be put to productive use.
The Ministry’s statement serves to manage public expectations and clarify that while plans to sell the estate exist, the process is still in preliminary stages and no official sale or allocation has commenced.