FG Reclaims 753 luxury homes seized from Ex-CBN chief, transfers estate to Housing Ministry

In a bold stride toward reclaiming national assets, the Federal Government has officially taken over a sprawling 753-unit luxury housing estate previously linked to former Central Bank Governor, Mr. Godwin Emefiele.

The high-end estate, tucked in a prime location within the Federal Capital Territory, was formally handed over by the Executive Chairman of the Economic and Financial Crimes Commission (EFCC), Mr. Ola Olukoyede, to the Minister of Housing and Urban Development, Arc. Ahmed Musa Dangiwa.

The property—comprising opulent duplexes—was forfeited to the state following extensive EFCC investigations that revealed financial infractions during Emefiele’s tenure at the apex bank.

This transfer forms part of President Tinubu’s broader strategy to recover misappropriated public assets and redirect them toward meaningful national development.

Receiving the estate, Minister Dangiwa emphasized the ministry’s commitment to restoring value and purpose to the property.

“We intend to conduct thorough structural and integrity assessments to ensure the buildings are safe and suitable for habitation,” he said. “All outstanding infrastructure, including access roads, drainage, and essential services, will be completed to make the estate fully functional.”

Dangiwa also revealed plans to implement a standardized architectural framework across the estate for cohesion and clarity in design.

He added: “These homes will be sold through a fully transparent and competitive process, which will be publicized widely and executed via the Renewed Hope Portal.”

The move signals a new chapter in the government's asset recovery drive, transforming confiscated luxury into opportunities for shelter and sustainability.