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    MarketForces Africa » MarketForces News » FG to Sell Emefiele’s 753-Unit Housing Estate
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    FG to Sell Emefiele’s 753-Unit Housing Estate

    Ogochukwu NdubuisiBy Ogochukwu NdubuisiMay 20, 2025No Comments3 Mins Read
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    FG to Sell Emefiele’s 753-Unit Housing Estate
    Godwin Emefiele, Ex CBN Governor
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    FG to Sell Emefiele’s 753-Unit Housing Estate

    The Federal Government has announced plans to sell the 753 housing units recovered from former Central Bank Governor, Godwin Emefiele, as proceeds of crime.

    This development is contained in a statement issued on Tuesday in Abuja, by Salisu Haiba, Director Press and Public Relations, Ministry of Housing and Urban Development

    Haiba disclosed that the Ministry had taken delivery of the estate, consisting 753 units of duplexes recovered by the Economic and Financial Crimes Commission (EFCC) from Emefiele . He said the houses would be sold to the public and for special government needs.

    The Director said that the Executive Chairman of EFCC, Olanipekun Olukoyede, handed over the housing estate to the Minister of Housing and Urban Development, Ahmed Dangiwa .

    According to the statement, Dangiwa commended the leadership of the EFCC, for the sustained efforts in the fight against corruption and the recovery of public assets.

    He said the Ministry would conduct a joint familiarisation tour of the facility alongside EFCC team to properly assess its state.

    ” We intend to carry out thorough integrity and structural assessments on all buildings and associated infrastructure to confirm their safety and suitability for habitation.

    “A comprehensive technical evaluation will be undertaken to determine the cost of completing all outstanding infrastructure and ancillary facilities.

    “These includes perimeter fencing, internal roads, drainage systems, a police post, shopping areas, recreational centres, and other essential amenities.

    ” The Ministry will offer the units for sale both to the public and for special government needs, “ the minister said. Dangiwa said that for the public sale component, the ministry would adopt a transparent and competitive process.

    He added that this would include a nationwide advertisement and the use of the Renewed Hope Portal where interested Nigerians would submit their expressions of interest.

    Also in the statement, Olukoyede said the handing over of the forfeited property was a demonstration of the impact of the fight against financial crimes and corruption. He emphasised on the need for accountability and transparency in managing forfeited assets.

    The EFCC Chairman disclosed that President Bola Tinubu directed the handing over of the asset to the Ministry of Housing and Urban Development for completion.

    According to him, the estate on parcel of land measuring 150,462.86 square meters is located at plot 109, cadastral zone, CO9, Lokogoma District, Abuja.

    He assured said that the Commission would monitor the project completion by the Ministry for periodic reports and feedback to the President.

    Olukoyede thanked Tinubu for creating a conducive environment for the fight against corruption to thrive. He also commended the judiciary for standing by the fight, ensuring that people do not get away with proceeds of crime.#FG to Sell Emefiele’s 753-Unit Housing Estate#

    CBN Retains Headline Lending Rate at 27.50%

    FGN Godwin Emefiele
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    Ogochukwu Ndubuisi
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    Ogochukwu Ndubuisi is an editorial content strategist and financial news writer at MarketForces Africa, covering a broad range of topics including Nigeria's equity markets, infrastructure development, energy, government policy, corporate finance, and digital economy.With over 2,400 published articles on MarketForces Africa, Ogochi brings depth and consistency to the publication's daily news coverage.Her reporting spans Nigerian Exchange Group market movements, Lagos State infrastructure projects, and federal government economic policies, oil and gas developments, and emerging sectors shaping Nigeria's economic landscape.She also covers Africa-wide stories, including East African market indices, continental investment trends, and cross-border economic developments.Ogochi works closely with MarketForces Africa's editorial and corporate communications teams to deliver accurate, timely, and well-researched content to the publication's professional readership.Ogochukwu Ndubuisi is based in Lagos, Nigeria.

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