During the handover ceremony held on Tuesday along the Kubuwa-Dei-Dei Expressway, ICPC Chairman Dr. Musa Aliyu, SAN, announced that the land forfeiture followed a court order from the Federal High Court in Abuja on December 11, 2025. "This handover symbolizes a significant step in the recovery and return of public assets that have been misappropriated," Aliyu stated.
The two plots, known as the site of the proposed Goodluck Jonathan Estate, include Plot No. 5, measuring approximately 122,015.80 square meters, and Plot No. 4, covering 157,198.30 square meters in Cadastral Zone D12. Originally conceived in 2012, the housing project was awarded to Good Earth Power Nigeria Limited in collaboration with an American partner, with ECO Bank Plc providing a loan of $65 million.
According to Aliyu, the loan, intended for the construction of the housing units, was instead misappropriated, with funds diverted through Bureaux de Change and transferred abroad. “Despite the loan being disbursed, no construction took place,” he lamented, highlighting the scale of the mismanagement.
The Chairman emphasized that the recovery of assets is only the beginning of the process. “Asset recovery must extend beyond prosecution; the resources must be effectively managed for public benefit,” he asserted. He noted that the ICPC would establish a joint committee with FMBN to oversee the project's progress and ensure that the housing units are delivered to legitimate beneficiaries.
The court's directive also mandated that ICPC and FMBN monitor the construction to ensure its timely completion. “Our task is to verify the progress and ensure that any challenges are addressed promptly,” Aliyu explained.
The housing project is seen as a fresh start after the original initiative's failure. “Is this project kicking off anew? Absolutely, as the previous proposal has not succeeded,” he remarked.
FMBN Managing Director Mr. Shehu Osidi expressed gratitude for the recovery of the land, assuring that construction would commence without delay. He pledged that the bank would engage capable developers to bring the project to fruition, emphasizing the urgency of providing affordable housing to Nigerians.
“This development aligns with our broader objectives to enhance housing finance and accelerate opportunities for home ownership under the Renewed Home Housing Agenda of the President,” Osidi stated. He confirmed that the new housing units would be targeted at contributors to the National Housing Fund (NHF), adopting a fresh delivery model.
The handover event marks a crucial development in Nigeria's efforts to combat corruption and repurpose misappropriated assets for the public good, reinforcing the ICPC's commitment to transparency and accountability in governance.
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