In a bold move to repurpose seized assets for public benefit, the Federal Government of Nigeria has announced plans to sell 753 luxury duplexes and other apartments confiscated from a former Central Bank of Nigeria (CBN) Governor to eligible Nigerians.
The initiative is being driven by President Bola Ahmed Tinubu’s directive to put recovered properties to productive use.
The announcement was made on Tuesday by the Minister of Housing and Urban Development, Ahmed Musa Dangiwa, following the official handover of the high-end estate by EFCC Chairman, Olanipekun Olukoyede, to the Ministry in Abuja.
The properties, which are located in the Cadastral Zone of the Federal Capital Territory (FCT), were seized during an anti-corruption investigation by the Economic and Financial Crimes Commission (EFCC). The estate is now set to be completed and sold through what the government promises will be a transparent and competitive allocation process, managed via the Renewed Hope Housing Portal.
Ensuring Safety and Accountability
Minister Dangiwa emphasized that the government’s immediate focus will be to assess the integrity and structural soundness of the buildings. This step is aimed at ensuring that the houses are safe for residential use. He also noted that the government will finalize critical infrastructure—such as roads, drainage, and other public amenities—to make the estate fully livable.
“We will conduct a comprehensive integrity and structural assessment of all buildings and associated infrastructure to ensure safety and suitability for habitation,” Dangiwa stated.
Standardization and Uniformity in Design
As part of efforts to maintain order and aesthetic appeal in the estate, the Ministry will introduce a standardized architectural design framework. This will provide guidance to prospective homeowners and ensure that the development retains a uniform, high-quality look.
“A standardized housing design framework will be developed to ensure architectural uniformity and provide guidance to prospective allottees,” the Minister explained.
Transparent Sales Through Renewed Hope Portal
The housing units will be advertised publicly and sold through a competitive process designed to ensure equal opportunity for all Nigerians. The sales will be managed through the Renewed Hope Portal, a digital platform introduced by the Ministry to enhance transparency and accountability in housing allocations.
“The housing units will be offered for sale through a transparent and competitive process, which will be widely advertised and managed via the Renewed Hope Portal,” he added.
Repurposing Looted Assets for Public Good
This development reflects the Tinubu administration’s focus on accountability and value-driven governance, particularly in the area of housing. The Minister described the estate handover as a major step in converting looted public assets into infrastructure that directly serves the Nigerian people.
“Together with the EFCC, we are demonstrating that the fight against corruption can yield real, tangible benefits transforming looted assets into livable homes for Nigerians,” Dangiwa concluded.
The initiative also aligns with President Tinubu’s broader “Renewed Hope” agenda, which aims to tackle Nigeria’s housing deficit and provide affordable shelter for citizens.
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