FG to Sell Seized Emefiele Estate to Nigerians: Experts Urge Transparency and Affordability

The Federal Government has revealed plans to sell a 753-unit housing estate in Abuja, previously linked to former Central Bank Governor, Godwin Emefiele, to low and middle-income Nigerians. The estate, located in the high-value Lokogoma district, was recovered by the Economic and Financial Crimes Commission (EFCC) in December 2024 after a court-ordered forfeiture. It stands as the largest single real estate asset ever confiscated by the EFCC.

According to the Ministry of Housing and Urban Development, the government will adopt a transparent, digital portal for the allocation and sales process. The Renewed Hope Housing Programme portal — www.renewedhopehomes.fmhud.gov.ng — will allow all eligible Nigerians to view, select, and apply for available units with flexible payment options including mortgage, rent-to-own, and installments.

However, the move has sparked debate among housing experts and urban development stakeholders. Many have raised doubts about the affordability of the estate for low-income earners, citing the luxurious design and high construction standards of the duplexes. Experts suggest that even middle-income earners may struggle to afford the houses, especially given Nigeria’s minimum wage of N70,000.

In response, some stakeholders have proposed a radical remodeling of the estate. They suggest subdividing the large duplexes into smaller, more affordable units to make the project viable for lower-income families. Others recommended selling the estate at market value and using the proceeds to fund dedicated social housing projects across the country.

Civil society organizations and housing advocates have also stressed the need for transparency in the sale process. Groups like the Housing Development Advocacy Network have proposed a digital raffle system tied to BVN numbers to allocate units fairly and reduce political interference. They argue that the seized estate offers a unique opportunity to address Nigeria’s housing crisis if handled properly.

Concerns have also been raised about the current state of the estate. A recent visit by reporters revealed that the property has been abandoned since mid-2023, with overgrown vegetation and reptiles invading the area. Security guards in nearby estates confirmed frequent sightings of snakes and the deteriorating condition of the site.

While the Federal Government maintains that it is committed to making homeownership accessible for all Nigerians, the implementation strategy for this estate will determine if it truly benefits the masses or becomes another missed opportunity. As the housing ministry prepares for the next steps, all eyes remain on how the process will unfold in the months ahead.