The Federal Government, through the Ministry of Housing and Urban Development, has formally taken control of 753 housing units in Abuja recovered by the Economic and Financial Crimes Commission (EFCC) from former Central Bank Governor Godwin Emefiele.

During the handover ceremony, EFCC Chairman Ola Olukoyede assured the public of transparency in managing and disposing of the recovered properties. “We will monitor the completion and transparent disposal of the properties,” he stated.

Minister of Housing and Urban Development Ahmed Dangiwa received the assets and praised the EFCC’s relentless anti-corruption efforts, emphasizing the need to ensure recovered assets benefit Nigerians directly.

“This marks a significant milestone in our collective determination to ensure that recovered assets are put to productive use,” Dangiwa said. He also revealed plans for a technical evaluation to determine the costs of completing critical infrastructure such as internal roads, drainage systems, security posts, recreational areas, and shopping facilities within the housing estate.

The handover coincided with a one-day anti-corruption event in Abuja, organized by the Centre for Fiscal Transparency and Public Integrity (CFTPI) and the Inter-Governmental Action Group Against Money Laundering in West Africa (GIABA). Both bodies called on the EFCC and the Independent Corrupt Practices Commission (ICPC) to strengthen Nigeria’s asset recovery mechanisms.

CFTPI Executive Secretary Dr Umar Yakubu highlighted asset recovery’s role in fostering national development and public trust. Meanwhile, GIABA Director General Edwin Harris, represented by Tim Melaye, cited a UN report estimating Africa loses between $88 billion and $94 billion annually to illicit financial flows.

Chairman Olukoyede reaffirmed the EFCC’s dedication to recovering stolen assets as part of President Bola Tinubu’s Renewed Hope Agenda, underscoring the government’s commitment to fighting corruption and promoting transparency.