The Federal Government has concluded plans to sell a sprawling estate linked to a former governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, to low and middle-income Nigerians.
Recall that the massive property, comprising 753 housing units, was recovered by the Economic and Financial Crimes Commission, (EFCC) in December 2024.
Following a court order, the EFCC handed the estate to the Ministry of Housing, which will assess the buildings and sell them via its portal with flexible payment options.
Court documents filed by the EFCC 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 Ɗangiwa.
Speaking with newsmen on Saturday, 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.
The Government promises transparency and inclusion, in line with President Tinubu’s housing agenda.
Experts raised concerns that the high-end duplexes may be unaffordable for target groups and could be taken over by elites. They proposed remodeling the units into affordable flats and using transparent methods like public raffles or open bidding to allocate them.
Housing advocates urged the Government to convert the estate into a social housing project for young and low-income Nigerians, with subsidised rents and public management to ensure long-term affordability.
