The Federal Government has taken possession of a 753-unit housing estate formerly owned by embattled former Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, and plans to sell the property to members of the public.

In a statement issued on Tuesday, the Ministry of Housing and Urban Development confirmed that the estate was handed over by the Economic and Financial Crimes Commission (EFCC) at the Ministry’s headquarters in Mabushi, Abuja.

The Minister of Housing and Urban Development, Ahmed Dangiwa, commended the EFCC for its continued efforts in asset recovery and the fight against corruption.

“This marks a significant milestone in our collective determination to ensure that recovered assets are repurposed in ways that directly benefit the Nigerian people,” the statement read.

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Dangiwa said the Ministry and the EFCC would conduct a joint inspection of the estate to assess its condition. “We will carry out integrity and structural evaluations of all buildings and infrastructure to determine their safety and suitability for habitation,” he explained.

He added that the units would be offered for sale through a transparent and competitive process, including public advertisements and registration via the Renewed Hope Portal. Some of the houses will also be reserved for special government needs.

EFCC Chairman, Olanipekun Olukoyede, said the handover demonstrates the government’s commitment to ensuring that looted assets are used for public good.

“We want to show Nigerians that recovered proceeds of crime will be transparently and productively utilised—so that looted assets are not looted again,” Olukoyede stated.