President Bola Tinubu has held talks with the Chairman of the Economic and Financial Crimes Commission (EFCC), Olanipekun Olukoyede, and the Minister of Housing and Urban Development, Muttaqha Rabe Darma, as the Federal Government moves to strengthen the management of properties recovered through corruption and financial crime cases.
The meeting, held at the State House in Abuja on Tuesday, focused on how forfeited houses, land and other landed assets can be properly secured, managed and eventually deployed or disposed of in accordance with transparency and accountability requirements.
The engagement comes as the volume of properties recovered by the EFCC continues to grow, creating the need for a coordinated system to preserve the value of the assets while ensuring they are put to productive use.
One of the major properties already transferred to the Housing Ministry is the 753-unit housing estate located at Plot 109, Cadastral Zone C09, Lokogoma District, Abuja.
The estate, built on more than 150,000 square metres of land and comprising duplexes and apartments, was finally forfeited to the Federal Government in December 2024.
Five months later, in May 2025, the EFCC handed the estate over to the Federal Ministry of Housing and Urban Development for completion and eventual deployment for public benefit.
The estate was linked to former Central Bank of Nigeria Governor, Godwin Emefiele.
Several other properties connected to Emefiele have also featured in forfeiture proceedings, including houses and apartments in Lekki Phase 1 and Ikoyi, undeveloped land and a bungalow around Queens Drive, Ikoyi, as well as properties on Probyn Road and Adekunle Lawal Road.
An industrial complex covering 22 plots in Agbor, Delta State, and a multi-storey development containing several housing units in the Otunba Elegushi area of Lagos are also among the assets involved in the proceedings.
The portfolio extends to industrial and warehouse facilities, residential properties and undeveloped plots across Lekki, Ikoyi and Amuwo-Odofin.
In 2026, the Supreme Court also affirmed the forfeiture of seven landed properties linked to the former CBN governor, alongside monetary and other assets.
Malami properties add to growing portfolio
The Federal Government’s asset-management challenge has been further expanded by forfeiture proceedings involving former Attorney-General of the Federation and Minister of Justice, Abubakar Malami, his associates, family members and companies.
In January, a court granted an interim forfeiture order covering 57 properties estimated at about ₦213 billion.
By July, 48 of those properties, valued at approximately ₦180 billion, had been finally forfeited to the Federal Government, while nine properties were released.
The properties are spread across the Federal Capital Territory, Kebbi, Kano and Kaduna states and include residential buildings, hotels, commercial developments, factories and large parcels of land.
Among them are a luxury duplex on Amazon Street, Maitama, Abuja; a two-winged storey building formerly occupied by Harmonia Hotels on Onitsha Crescent, Area 11, Garki; and a five-storey hotel containing 53 rooms in Jabi.
Other properties in Abuja include a 15-room hotel on Rhine Street, Maitama, terraces and buildings in Asokoro, as well as residential properties in Gwarimpa, BUA Estate, Apo Legislative Quarters, Wuse II and Karsana.
The portfolio also contains commercial developments in Wuse II and other parts of the capital.
Beyond Abuja, the forfeited assets include residential and hospitality properties in Kano, while properties in Kebbi comprise extensive landed developments, buildings linked to agro-allied and hospitality businesses and large parcels of land, including more than 100 hectares along the Birnin Kebbi-Jega Road.
A residential property in Abakpa GRA, Kaduna, is also among the assets covered by the proceedings.
More properties under EFCC custody
The EFCC has also secured an interim forfeiture order over nine high-value properties in Abuja allegedly linked to former Minister of State for Petroleum Resources, Timipre Sylva.
The properties include terraces in Dakibiyu, duplexes and office complexes in different parts of Abuja, blocks of flats in Wuse and Garki, and buildings in Maitama and Mpape.
In a separate case, 52 terrace and maisonette housing units at Mercyville Estate, Covenant Way, Ilasan, Lekki, Lagos, were finally forfeited in July 2026.
The anti-graft agency has also secured final forfeiture orders over several unclaimed landed assets in Abuja and other states, including residential and commercial properties in Karsana, Dakibiyu and Guzape in the FCT, as well as properties and land in Borno, Nasarawa and Niger states.
The scale of the recoveries underscores the growing responsibility facing the Federal Government. The EFCC has reported the recovery of more than 1,500 non-monetary assets, largely properties, between late 2023 and 2025.
However, not all properties in the EFCC’s custody have the same legal status. While some have been finally forfeited to the Federal Government, others remain subject to interim orders and may still face claims, appeals or further judicial proceedings.
Against this backdrop, Tuesday’s meeting is expected to deepen cooperation between the EFCC and the Housing Ministry in developing a more effective framework for handling the growing portfolio.
While the EFCC is responsible for pursuing forfeiture orders and taking possession of recovered assets, the Housing Ministry has the technical capacity to assess, complete, manage and ultimately deploy suitable housing properties for public benefit.
The meeting therefore signals a possible shift from simply recovering assets to ensuring that billions of naira worth of forfeited properties do not remain idle, but are properly preserved and converted into productive assets for Nigerians.
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