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The Federal Government has announced plans to sell the 753-unit luxury estate forfeited by former CBN Governor Godwin Emefiele to low and middle-income Nigerians, sparking debate about the practicality of converting high-end properties into affordable housing. The abandoned estate, now overrun by reptiles, represents the EFCC's largest single asset recovery worth billions of naira.
  • Massive Forfeiture: 753 duplexes on 150,000 sqm land recovered via court order in December 2024
  • Sales Plan: Properties to be sold via online portal with mortgage/installment options under Tinubu's Renewed Hope Agenda
  • Reality Check: Experts say units (estimated at ₦100-200m each) remain unaffordable for minimum wage earners (₦70k/month)
  • Estate Condition: Prime Abuja location now snake-infested after 2-year abandonment
  • Alternative Proposals: Some suggest remodeling into smaller units or a raffle system for transparency
While the initiative aims to repurpose ill-gotten wealth for the public good, experts warn the luxury properties may still end up with elites unless radically restructured.

Can seized luxury assets truly benefit ordinary Nigerians, or is this political symbolism?