By John Umeh
In a bold move aimed at addressing Nigeria’s persistent housing crisis, the Federal Government has announced plans to sell 753 confiscated duplexes formerly linked to the embattled former Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele. The properties, recovered through anti-corruption efforts, are to be made available to low- and middle-income Nigerians in a bid to promote affordable housing and ensure equitable distribution of national assets.
The announcement was made by the Minister of Housing and Urban Development, who emphasized that the government’s decision aligns with its broader agenda of redistributing recovered assets for public benefit. According to the minister, the seized properties—mainly upscale duplexes located in strategic urban areas—will no longer serve as symbols of unchecked excess, but rather as instruments of national development and social justice.
Turning Seized Assets Into Public Good
This latest move is part of a growing effort by the Tinubu administration to re-purpose ill-gotten assets for constructive societal use. Emefiele, who was suspended in 2023 and later arrested over allegations ranging from corruption to abuse of office, allegedly used his position to amass massive wealth, including high-value properties spread across several Nigerian cities.
The Economic and Financial Crimes Commission (EFCC), which led the investigation, confirmed that many of the properties were acquired through proxy companies and suspicious financial transactions. Following legal proceedings, the federal government obtained a forfeiture order from a competent court, paving the way for the redistribution of the properties.
“These houses were built with public funds disguised as private investments,” the Housing Minister said. “It is only right that they go back to the people who truly own them—the Nigerian public.”
Housing the Underserved
The Ministry has disclosed that the properties will be allocated through a transparent process managed by the Federal Mortgage Bank of Nigeria (FMBN). Special priority will be given to civil servants, first-time homebuyers, and those within the low- and middle-income brackets. Beneficiaries will have access to flexible mortgage plans under the National Housing Fund scheme.
According to officials, each duplex will be sold well below prevailing market rates, with options for installment payments. The government also plans to partner with cooperative societies and labor unions to ensure broader participation.
Housing experts have lauded the move, describing it as a practical step toward solving Nigeria’s housing shortfall, which is estimated at over 17 million units. “It’s a win-win,” said Dr. Angela Okafor, a real estate analyst. “The government is not only recovering looted funds but also reducing the housing gap and restoring public confidence in the justice system.”
Transparency and Accountability Promised
To avoid past pitfalls where similar schemes were marred by corruption and elite capture, the government has promised transparency and public accountability. The process will involve independent auditors and civil society observers to monitor implementation and beneficiary selection.
“We are not just selling houses; we are restoring faith in government,” said the Minister. “There will be no room for backdoor deals or political favoritism.”
The EFCC also affirmed that more properties and assets traced to other politically exposed persons are under investigation and may soon face the same fate. The agency reiterated its commitment to ensuring that looted national wealth is returned to the people in tangible, life-changing ways.
Public Reactions
Reactions to the development have been largely positive, especially among middle-income earners who have long struggled to own homes in Nigeria’s increasingly unaffordable real estate market. Social media platforms have been abuzz with expressions of hope and cautious optimism.
“I never thought I could ever afford a duplex in Abuja,” said Maryam Salisu, a secondary school teacher. “If this is done properly, it could change lives.”
However, some critics argue that without strict oversight, the initiative could be hijacked by the political elite, defeating its purpose. They are calling for an online portal where applications and allocations can be publicly tracked.
The government’s decision to convert Emefiele’s seized properties into affordable housing marks a significant step in transforming the narrative around corruption recovery in Nigeria. It suggests a shift from punitive justice to restorative justice—where stolen wealth is not only retrieved but reinvested in the lives of ordinary citizens. If executed with integrity and transparency, this initiative could serve as a model for future asset recovery programs across Africa.
