The Federal Government has announced plans to sell a sprawling estate of 753 housing units in Abuja — seized from former Central Bank of Nigeria governor Godwin Emefiele — to low- and middle-income Nigerians.
The estate, covering over 150,000 square metres, was recovered by the Economic and Financial Crimes Commission (EFCC) following a court order in December 2024. According to the EFCC, it’s the largest single asset forfeiture in its history.
EFCC Chairman Ola Olukoyede officially handed over the estate to the Minister of Housing and Urban Development, Ahmed Dangiwa, on May 20, 2025.
According to the Ministry’s spokesperson, Badamasi Haiba, the government aims to ensure inclusiveness in line with President Bola Tinubu’s Renewed Hope Agenda.
He said, “The intention of the minister has always been homeownership for all categories of Nigerians, including low and middle-income earners.”
He added that a web portal — renewedhopehomes.fmhud.gov.ng — will be used for the transparent sale process. “Any Nigerian can sit in their home, log onto the portal, select the house they want, and get an offer letter right there and then,” he explained.
However, real estate experts doubt the feasibility of the plan.
“These estates are usually designed for luxury and exclusivity, making them structurally and financially incompatible with affordability thresholds,” said Stephen Eke, President of Fajiri Construction Ltd.
He advised the government to sell at market value and reinvest in true social housing.
Former President of the Nigerian Institute of Building, Kunle Awobodu, warned, “The government should offer it at a subsidised rate… It should be gradual, like a mortgage.”
Others say the properties, many of them duplexes, are already too expensive to qualify as affordable housing. “We are talking about a duplex in Africa. It is not within the reach of a low-income earner in Nigeria,” said Godfrey Godfrey, spokesperson for the Nigerian Institute of Building.
Meanwhile, a site visit by Saturday PUNCH showed that the estate has been overrun by weeds and reptiles due to halted construction. “Snakes have been coming from that bushy estate. We’ve killed many,” a nearby security guard told our correspondent.
While the government insists on transparency, skepticism remains. “Those in government may end up finding a way to acquire them for themselves,” Godfrey warned.
As debates swirl, some advocacy groups propose converting the estate into social housing through remodeling or a public housing raffle. Festus Adebayo, Executive Director of Housing Development Advocacy Network, said, “This is a golden opportunity to turn a seized asset into a national solution.”
