The Traffic

753-Unit Estate Seized from Ex-CBN Boss Emefiele Not Yet for Sale 

By Achimi muktar 

In a dramatic twist surrounding one of the biggest real estate recoveries in Nigeria's history, the Federal Ministry of Housing and Urban Development has sounded a public alarm—the 753-unit estate seized from former CBN Governor, Godwin Emefiele, is not yet for sale.

Despite the property’s recent handover from the Economic and Financial Crimes Commission (EFCC), the Ministry says no official sales process has begun—contrary to fraudulent claims currently making rounds.

According to a statement released on Saturday, May 24, 2025, by the Ministry’s Director of Press and Public Relations, Badamasi Haiba, scammers are already preying on unsuspecting Nigerians, claiming they have access to “slots” in the estate. These fraudsters are reportedly asking for ₦500,000 as payment for a non-existent ‘expression of interest’ form.

The Ministry swiftly debunked these claims, warning the public to steer clear of fraudulent agents and middlemen.

The Ministry clarified that it is still assessing the estate, and plans to complete all necessary work—ranging from infrastructure upgrades to safety checks—before putting any unit up for sale.

“The Honourable Minister, Arc. Ahmed Musa Dangiwa, has directed the setup of a technical committee to carry out a physical assessment, conduct integrity tests on the buildings, and evaluate infrastructure needs,” the statement read.

Only after these steps are completed, the Ministry said, will a clear and transparent sales strategy be rolled out, as directed by President Bola Ahmed Tinubu.

The public has been strongly advised to verify any information through official Ministry channels, particularly the departments of Public Building and Housing Development or the Press and Public Relations unit.

“The entire sales process will be open, accountable, and inclusive. No unit is for sale until we announce it publicly,” the Ministry reiterated.

Recall that just days earlier, Minister Dangiwa led an inspection of the 753-unit estate in Abuja, describing the recovery as “the biggest of its kind in Nigeria’s history.” He revealed that more recoveries are in the pipeline, crediting the EFCC for its ongoing anti-corruption drive.

“This is just the beginning,” the Minister noted. “Many more recoveries are ongoing, and Nigerians will soon begin to reap the benefits.”

EFCC sources also hinted that the final property count may exceed the initial 753 units following remodeling and revaluation efforts.

The property was officially forfeited to the Federal Government after a final ruling by Justice Jude Onwuegbuzie of the Federal Capital Territory High Court on December 2, 2024. The court held that the estate was acquired with proceeds from unlawful activity, and the respondent—Emefiele—failed to provide any legitimate justification for its ownership.

The forfeiture was based on Section 17 of the Advance Fee Fraud and Other Fraud-Related Offences Act (2006) and Section 44(2)(b) of the 1999 Constitution.

While no sale timeline has been announced, the Ministry has promised to share updates once the property assessment is complete. However, legal experts suggest that the forfeiture may still be challenged in higher courts, possibly delaying the sale even further.

In the meantime, Nigerians are advised to be vigilant. If someone offers to sell you a house in the estate—run. The only real deal will come directly from the Ministry, and only after due process has been completed.