FG to Sell 753-Unit Housing Estate Recovered from Former CBN Governor Emefiele
Ministry Takes Possession of Forfeited Property
The Federal Government has announced plans to sell a 753-unit housing estate previously owned by Godwin Emefiele, the embattled former Governor of the Central Bank of Nigeria (CBN).
The Ministry of Housing and Urban Development officially took possession of the property on Tuesday, according to a statement released by the ministry.
Details of the Forfeited Estate
The expansive housing estate, located in a prime area, was recovered as part of the ongoing investigation into Emefiele’s tenure as CBN governor. The property comprises:
- 753 residential units
- Various housing types including duplexes and apartments
- Completed infrastructure and amenities
Next Steps for the Property
The ministry has indicated that the estate will be made available to the public through an open sale process. Proceeds from the sale will be returned to government coffers.
“This recovery demonstrates the government’s commitment to retrieving assets improperly acquired by public officials,” the statement read.
Background on the Case
Emefiele has faced multiple charges since his removal as CBN governor, including allegations of financial misconduct and abuse of office. The forfeiture of this property represents one of the most significant asset recoveries in the ongoing case.
The sale process is expected to begin in the coming weeks, with details to be announced by the Ministry of Housing and Urban Development.
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