- Court orders final forfeiture of two Abuja plots linked to the Goodluck Jonathan housing estate
- ICPC takes control following alleged diversion of a $65m housing loan
- No houses were built despite full release of project funds
- Federal Government to complete project through FMBN supervision
A Federal High Court in Abuja has ordered the final seizure of prime land earlier approved for the Goodluck Jonathan Legacy Model Housing Estate, following allegations that the property was tied to a $65 million housing loan fraud.
Justice Mohammed Umar gave the ruling after granting a motion filed by the Independent Corrupt Practices and Other Related Offences Commission (ICPC), with no opposition from defence counsel, Hassan Liman (SAN).
ATTENTION: Click “HERE” to join our WhatsApp group and receive News updates directly on your WhatsApp!
The court ordered the forfeiture of two large plots in Kaba District, Abuja, suspected to be proceeds of unlawful activity. The properties include Plot No. 5, measuring over 122,000 square metres and valued at ₦1.94 billion, and Plot No. 4, covering more than 157,000 square metres with an estimated value of ₦3.34 billion.
Justice Umar further directed the ICPC to work with the Federal Mortgage Bank of Nigeria (FMBN) to ensure the completion of 962 housing units initially proposed under the National Housing Fund scheme.
READ ALSO: Budget Crisis: NASS Extends 2025 Fiscal Year to March 2026
“The objective of this forfeiture is to protect public assets and ensure the project is completed for the benefit of Nigerians,” ICPC counsel Osuobeni Akponimisingha told the court.
Investigations revealed that FMBN had engaged Good Earth Power Nigeria Limited for the project after securing a $65 million loan from Ecobank, with an 18-month delivery timeline. However, the developer allegedly received the entire project funds upfront, despite not meeting key regulatory requirements.
Court documents showed that no construction took place on the land, while the developer allegedly attempted to sell the plots to unsuspecting members of the public.
Justice Umar questioned the decision to release full funding without evidence of work done and adjourned the matter to October 27 for a compliance report on project execution.
