The estate with 753 duplexes in Abuja, recently forfeited to the Economic and Financial Crimes Commission (EFCC), is allegedly linked to Godwin Emefiele, the former Governor of the Central Bank of Nigeria. The EFCC’s investigation revealed that Emefiele and his associates acquired the property using proceeds from unlawful activities, including kickbacks from foreign exchange allocations and contract awards.
The property, located in Lokogoma, Abuja, spans 150,462.86 square meters and was initially allocated to Windermere Nigeria Limited in 2010 for mass housing development. Three companies – Ifeadigo Integrated Services, Kelvito Integrated Services, and Ice Frozen Food and Ventures – were involved in paying for and acquiring the property, with a total transfer of N2.2 billion to MG properties.
Emefiele is currently standing trial on several corruption charges, including those related to the new naira redesign, before the Federal Capital Territory High Court in Maitama, Abuja. The EFCC’s final forfeiture of the property marks the largest single-asset recovery since the agency’s inception in 2003.
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