The Economic and Financial Crimes Commission (EFCC) has officially handed over 753 duplexes and apartments seized from a former Governor of the Central Bank of Nigeria to the Federal Ministry of Housing and Urban Development.
The properties, located in the high-value Cadastral Zone of the Federal Capital Territory, Abuja, were transferred during a formal handover ceremony presided over by the EFCC Chairman, Mr. Olanipekun Olukoyede. The move follows a directive from the Federal Government that the recovered estate be completed and made available to the Nigerian public through an open, competitive process.
Describing the handover as a significant milestone in the war against corruption, Mr. Olukoyede emphasized that this action proves the government’s resolve not just to recover looted assets but to repurpose them for the benefit of ordinary Nigerians. He noted that abandoned assets like these would no longer be left to decay but transformed into functional infrastructure that meets the country’s pressing housing needs.
As part of the next phase, the Ministry of Housing and Urban Development will undertake a comprehensive structural and integrity assessment of all buildings and their associated infrastructure to guarantee safety and habitability. Plans are also in place to complete all outstanding infrastructure, including internal roads, drainage systems, water supply, and electricity connections, to ensure the estate becomes fully functional.
Read also:
- Customs blames CBN forex policy for decline in cargo volume
- CBN’s forex policies working, Naira moving toward fair value – Bismarck Rewane
- CBN launches modernized website to enhance user experience
To promote order and modernity, a standardized architectural design framework will be introduced for all housing units, providing clear guidance for prospective allottees. According to officials, this approach will not only enhance the estate’s aesthetics but also ensure uniformity and sustainability in its overall development.
Once fully completed, the housing units will be offered to Nigerians through a transparent and widely advertised sale process, managed via the Renewed Hope Housing Portal. The portal is expected to serve as the central platform for applications, assessments, and final allocations, eliminating corruption, favoritism, and backdoor deals.
Government sources say this initiative is a clear demonstration that the fight against corruption can deliver real, tangible benefits for citizens. What was once looted wealth hidden in luxury real estate will now be transformed into affordable homes for hardworking Nigerians, turning a painful past into a promise for the future.
