FG to Sell Emefiele’s 753 Duplexes — Reveals Nigerians Who Will Benefit

The Federal Government has announced plans to sell a large estate linked to former Central Bank Governor Godwin Emefiele, revealing which Nigerians stand to benefit from the initiative. The estate, comprising 753 housing units including duplexes, was seized by the Economic and Financial Crimes Commission (EFCC) in December 2024, marking the largest asset recovery in the agency’s history.

Spanning over 150,000 square meters in Abuja’s Lokogoma area, the estate was forfeited to the government following a December 2024 court order. Despite Emefiele’s attempt earlier this year to reclaim the property, the court dismissed his suit, clearing the way for the government to take control.

On May 20, 2025, EFCC Chairman Ola Olukoyede formally handed over the estate to the Minister of Housing and Urban Development, Ahmed Dangiwa. The ministry has confirmed that the estate is still under construction and will undergo thorough structural assessments before any sale process begins.

Badamasi Haiba, the ministry’s Director of Press and Public Relations, stated that in line with President Bola Tinubu’s Renewed Hope Agenda, the government intends to prioritize low and middle-income Nigerians in the sale. He explained that the ministry will profile the homes and adopt flexible payment options, such as mortgages, installments, and rent-to-own schemes, all accessible through an official online portal.

Despite these assurances, a recent site visit revealed the estate is currently neglected, with overgrown bushes and reptiles, including snakes, inhabiting the area. Construction reportedly halted abruptly in mid-2023, shortly after Emefiele’s arrest by security operatives.

Experts in real estate and housing have voiced doubts about the feasibility of selling these high-end properties to low-income earners. They warn that the size, location, and unfinished status of the duplexes will likely place them out of reach for most Nigerians in the lower income bracket. Some professionals suggest selling the estate at market value and using the funds to develop dedicated affordable housing projects better suited to the needs and finances of low- and middle-income citizens.

Concerns about transparency have also surfaced, with fears that political elites could find ways to acquire the properties unofficially. To counter this, the government plans to leverage a digital sales platform to ensure a fair, inclusive, and transparent process where Nigerians can browse, apply, and purchase homes without interference.

Other voices in the housing sector propose remodeling the large units into smaller apartments to improve affordability and accessibility. Meanwhile, advocacy groups recommend converting the estate into a social housing project with subsidized rental options targeted at vulnerable populations, managed by government housing authorities.

As the Federal Ministry of Housing advances with the Renewed Hope Housing Programme, which already includes over 10,000 homes nearing completion nationwide, the fate of Emefiele’s confiscated estate remains a significant test of the government’s commitment to delivering affordable housing for all Nigerians.