EFCC Court Documents Reveal 753 Duplexes Seized from Ex-CBN Governor
Property Worth Billions Forfeited in Landmark Corruption Case
The Economic and Financial Crimes Commission (EFCC) has announced the recovery of a massive property complex in Abuja, consisting of 753 duplexes and apartments, allegedly linked to former Central Bank of Nigeria (CBN) Governor Godwin Emefiele.
Court documents filed by the anti-graft agency reveal the property is located in the Cadastral Zone area of Abuja, spanning 150,500 square meters and identified as Plot 109, Cadazral Zone C09, Lokogoma District. The EFCC described this as the largest single property recovery in its history since establishment in 2003.
The seizure followed a December 2, 2024 ruling by Justice Jude Onwuegbuzie of the FCT High Court in Apo, permanently forfeiting the property to the Federal Government.
According to EFCC investigations, Emefiele allegedly used three companies to purchase the property for N2.2 billion, with each company making different payments: one paying N900 million, another N700 million, and the third N600 million. The agency claims these funds were not legitimate earnings but proceeds of unlawful activities.
The EFCC alleges Emefiele engaged in “monumental fraud” during his tenure as CBN governor, including negotiating kickbacks for foreign exchange allocations and receiving illicit payments from contractors. The investigation suggests he worked with cronies, including one Ifeanyi Omeke, who allegedly assisted in purchasing and perfecting property title documents in Lagos and Abuja.
Emefiele currently faces multiple legal challenges. He is being prosecuted in three separate cases: one for procurement fraud and forgery of former President Muhammadu Buhari’s signature, another involving alleged fraud of $4.5 billion and N2.8 billion, and a third for allegedly approving the printing of N684.5 million notes at a cost of N18.96 billion.
The property, originally intended for mass housing development, has been reportedly abandoned since June 2023, with only a guard present. The EFCC discovered the property on September 17, 2024, with assistance from the Abuja Geographical Information Systems.
EFCC spokesman Dele Oyewale defended the agency’s decision to not immediately disclose the property owner’s identity, citing legal proceedings under the Advance Fee Fraud Act. He explained that the forfeiture was a civil proceeding allowing action against the property itself, particularly in cases of unclaimed assets.
Emefiele’s legal team has not yet responded to the allegations. He was previously arrested by the Department of State Services shortly after his suspension by President Bola Tinubu, and subsequently arrested again by the EFCC in October.
The EFCC has urged the court to permanently forfeit the property to the Federal Government, noting that no one has challenged the facts presented despite public advertisements of the interim forfeiture order.
