The Economic and Financial Crimes Commission (EFCC) has seized a massive estate in Abuja, linked to former Central Bank of Nigeria Governor Godwin Emefiele. The property, located in Lokogoma District, spans 150,500 square meters and includes 753 duplexes and apartments. This represents the EFCC’s largest recovery since its inception in 2003.
The seizure followed a court ruling on December 2, 2024, by Justice Jude Onwuegbuzie. Emefiele, currently facing multiple corruption charges, is accused of acquiring the estate with proceeds from alleged fraudulent activities, including kickbacks from foreign exchange allocations and contractor payments during his tenure as CBN governor.
Court filings revealed that three companies were used to pay ₦2.2 billion for the estate, which was originally meant for mass housing. Investigations show the property has been abandoned since Emefiele’s arrest in June 2023. Despite a publicized interim forfeiture order, no one challenged the court’s findings, leading to the property’s permanent forfeiture to the government.
Efforts to obtain Emefiele’s legal team’s comments were unsuccessful, and EFCC spokesperson Dele Oyewale defended the decision to initially withhold details of the property owner, citing legal procedures under the Advance Fee Fraud Act.
