ICPC hands over Abuja forfeited estate land to FMBN for completion of 962 housing units

By Johnson Arua 

The Independent Corrupt Practices and Other Related Offences Commission (ICPC) has handed over forfeited landed properties in Kaba District, Abuja, to the Federal Mortgage Bank of Nigeria (FMBN), following a final forfeiture order issued by the Federal High Court.

The Head, Media and Public Communications, ICPC, Okor Odey in a statement said the handover ceremony took place on Tuesday at the site of the Goodluck Jonathan Estate in Kaba District and was led by ICPC Chairman, Dr. Musa Adamu Aliyu (SAN), alongside the Managing Director/Chief Executive Officer of FMBN, Mr. Shehu Usman Osidi, and senior officials of both institutions.

Speaking at the event, Dr. Aliyu described the handover as a major milestone in Nigeria’s asset recovery and restitution efforts, stressing that recovered public assets must be returned to productive public use.

He explained that the forfeited land was part of a housing project initiated by FMBN in 2012 and financed through a $65 million loan secured by Good Earth Power Nigeria Limited in partnership with an American firm. The project was designed to deliver 962 housing units on about 27.92 hectares of land in Kaba District.

According to the ICPC Chairman, investigations revealed that the entire loan was diverted, with no housing units constructed. He alleged that part of the funds was routed through Bureaux de Change and transferred abroad.

The Commission subsequently instituted both civil and criminal proceedings. While the civil case has been concluded, the criminal trial remains pending.

Dr. Aliyu disclosed that on December 11, 2025, the Federal High Court in Abuja, presided over by Justice M. G. Umar, granted a final forfeiture order in Suit No. FHC/ABJ/CS/1124/2025.

The court ordered the forfeiture of Plot No. 5 in Cadastral Zone D12, measuring approximately 122,015.80 square metres, and Plot No. 4 in the same zone, measuring about 157,198.30 square metres, describing them as properties suspected to be proceeds of unlawful activity.

The court also directed the Federal Republic of Nigeria, through the ICPC, to hand over the forfeited properties to FMBN as the victim of the alleged unlawful activity.

In addition, the court mandated the ICPC and FMBN to jointly monitor and supervise the construction of the proposed 962 housing units to completion and ensure that they are allocated to the intended beneficiaries. A joint committee comprising representatives of both institutions will oversee the implementation of the project.

Dr. Aliyu said the ICPC would immediately nominate its representatives to the committee through its Constituency and Executive Project Tracking Division.

He emphasized that asset recovery is only meaningful when recovered assets are effectively managed and restored to public use, adding that the true measure of success for the Kaba District project would be the completion of the housing estate and its fair allocation to Nigerian families.

The ICPC Chairman reaffirmed the Commission’s commitment to transparency, accountability and the effective management of recovered assets in line with the National Anti-Corruption Strategy.

In his remarks, FMBN Managing Director and Chief Executive Officer, Mr. Shehu Usman Osidi, commended the ICPC for its diligence and professionalism in recovering the property and facilitating its return to its intended purpose.

He noted that the land had remained abandoned and unutilized for years, describing the recovery and handover as a demonstration of the government’s commitment to safeguarding public assets and ensuring that forfeited properties are put to productive use for the benefit of Nigerians.