Nigeria Plans Sale of 753-Unit Housing Estate Recovered from Former Central Bank Boss
Nigeria’s Ministry of Housing and Urban Development says it will soon auction a sprawling housing estate recovered from the embattled former Central Bank Governor, Godwin Emefiele.
In a statement Tuesday, the ministry said the property, located on 150,462.86 square meters of land and comprising 753 duplex units, will be sold as proceeds of crime.
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The estate was handed over by Nigeria’s anti-graft agency, the Economic and Financial Crimes Commission (EFCC), which had seized it as part of ongoing investigations into Emefiele’s conduct during his time in office.
A joint assessment of the facility will be carried out ahead of the public sale.
Since 2023, Emefiele has faced mounting legal troubles, including allegations that he fraudulently obtained $6.2 million in bank funds. The charges against him—numbering at least 20—span bribery, corruption, illegal property acquisition, and abuse of office, according to court filings.
He is the most prominent figure to be indicted under the administration of President Bola Tinubu, who assumed office in May 2023 following a contentious election.
Emefiele was suspended by Tinubu on June 9 and arrested the following day.
