“Emefiele Planned to Build 774 Duplexes, Name Each After a Nigerian Local Government Area, and Sell for N200 Million,” Say EFCC Sources

Former Central Bank Governor Godwin Emefiele had plans to build 774 duplexes in a massive estate in Abuja, naming each unit after a Nigerian Local Government Area, with each unit priced at N200 million, according to sources within the Economic and Financial Crimes Commission (EFCC). The estate, located at Plot 109 Cadastral Zone C09 in Lokogoma District, Abuja, has now been forfeited to the Nigerian government following a court ruling on December 2, 2024.

The estate, which contains 753 duplexes, was linked to Emefiele after EFCC operatives discovered a receipt for roofing materials during a search of his Lagos residence. Although no direct documents were found connecting him to the property, the receipt helped solidify the link. The EFCC described the forfeiture as its largest asset recovery since its inception in 2003.

Justice Jude Onwuegbuzie, in a ruling on December 2, 2024, ordered the final forfeiture of the estate, which covers 150,500 square meters. The court determined that the property had been acquired with proceeds from unlawful activities, leading to its forfeiture to the federal government. The EFCC emphasized that its actions were in line with its mandate to prevent corrupt individuals from benefiting from their illegal activities.

Emefiele is currently facing multiple corruption charges, including those related to the controversial naira redesign, with his trial ongoing at the Federal Capital Territory High Court in Maitama, Abuja. Proceedings have been adjourned until December 4, 2024, and January 21, 2025.

Omoyele Sowore had earlier criticized the EFCC for not naming the person behind the estate. After the court’s ruling, Sowore confirmed that Emefiele was the individual in question. The EFCC clarified that the forfeiture was conducted under relevant Nigerian laws aimed at combating corruption.