The transfer of 753 high-end residential units from the Economic and Financial Crimes Commission (EFCC) to the Ministry of Housing and Urban Development has reignited public demand for full disclosure in what is being described as one of Nigeria’s largest real estate recoveries.
Located in the Lokogoma district of Abuja, the estate spanning over 150,000 square meters was officially handed over to the ministry following a final forfeiture order issued by the Federal Capital Territory High Court in December 2024. However, the origin and financing of the estate remain murky, fueling suspicions of concealment.
Former Central Bank Governor, Godwin Emefiele, recently challenged the court’s forfeiture decision, asserting his interest in the property and claiming he was not adequately informed of the proceedings. He has accused the EFCC of publishing the notice in an obscure location while he was preoccupied with multiple legal battles.
While the EFCC maintains that the forfeiture followed due legal process under Section 17 of the Advance Fee Fraud Act which targets properties rather than individuals in civil proceedings the commission’s reluctance to name those involved from the outset has prompted accusations of a potential cover-up.
Public concern has grown around whether proceeds of crime could be allowed to evolve into a major construction project without detection. Civil society groups warn that without transparency, the recovered assets could be reabsorbed by previous owners through backchannels.
The Ministry of Housing has assured Nigerians that the estate is not yet up for sale and warned of ongoing scams falsely advertising access to housing slots for ₦500,000. The ministry said the estate will first be completed with proper infrastructure before being made available for public or special government use.
As calls intensify for full disclosure, citizens and watchdogs are demanding the publication of all contractual and financial records tied to the estate including investors, contractors, and any linked government officials. Stakeholders insist the matter must be handled with transparency to avoid reinforcing a cycle of elite impunity in corruption cases.
EFCC Chairman Ola Olukoyede has reiterated the commission’s promise to uphold accountability in asset recovery, stating the process will be fully transparent. Nonetheless, critics remain skeptical, emphasizing that justice must be seen to be done and warning against selective prosecutions or backdoor settlements.
With court proceedings ongoing and public scrutiny growing, the fate of the 753 units may become a defining moment in Nigeria’s broader anti-corruption campaign.
