In a significant step towards reclaiming stolen assets and tackling Nigeria’s housing shortage, the Federal Government has announced plans to auction over 750 luxury duplexes in Abuja, previously seized from former Central Bank of Nigeria (CBN) Governor, Godwin Emefiele. The properties, now in the custody of the Ministry of Housing and Urban Development, were handed over by the Economic and Financial Crimes Commission (EFCC) following a major corruption probe.
The handover took place on Tuesday, with EFCC Chairman Ola Olukoyede officially transferring the estate to the Minister of Housing and Urban Development, Arc. Ahmed Musa Dangiwa. The estate, located in a prime area of the capital, was confiscated after investigations into alleged large-scale financial misconduct during Emefiele’s time at the apex bank.
Olukoyede highlighted the development as a pivotal achievement in the EFCC’s intensified drive for asset recovery and public restitution.
“This action sends a clear warning to public officials who misuse their positions,” he said. “Our focus remains on restoring looted resources for the benefit of all Nigerians.”
Minister Dangiwa confirmed that the properties will be made available to the public for purchase under the government’s Renewed Hope Agenda. He emphasized transparency in the sales process, which will be conducted through the Renewed Hope digital platform; designed for registration, bidding, and monitoring.
“We are committed to a fair and open process,” Dangiwa stated. “Priority may be given to civil servants, first-time buyers, and vulnerable groups. Full details on eligibility and pricing will be announced soon.”
He also noted that all proceeds from the auction will be directed into the national treasury as part of efforts to recover and repurpose misused public funds.
This initiative aligns with the Tinubu administration’s broader push to transform recovered assets into solutions for urgent national challenges such as housing, infrastructure development, and economic inclusion.
Further updates, including the portal launch date and application procedures, are expected in the coming weeks.
