The Independent Corrupt Practices and Other Related Offences Commission (ICPC) has formally handed over forfeited landed properties in Kaba District, Abuja, to the Federal Mortgage Bank of Nigeria (FMBN) for the completion of a 962-unit housing estate, in compliance with a final forfeiture order of the Federal High Court.
According to an official signed statement by the Head of Media and Public Communications, ICPC, J. Okor Odey, the handover took place on Tuesday at the site of the Goodluck Jonathan Estate in Kaba District, Abuja, with the Chairman of the Commission, Dr. Musa Adamu Aliyu, SAN, presenting the property to the Managing Director and Chief Executive Officer of FMBN, Mr. Shehu Usman Osidi.
The statement said Dr. Aliyu described the event as a major milestone in Nigeria’s asset recovery and restitution efforts, stressing that recovered public assets must be restored 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 US dollar loan facility 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 loan was completely diverted, with no housing units constructed, while part of the funds was allegedly channelled through bureaux de change and transferred abroad.
The statement noted that the Commission subsequently instituted both civil and criminal proceedings over the matter. While the civil proceedings have been concluded, the criminal case is still pending before the court.
Dr. Aliyu disclosed that on December 11, 2025, the Federal High Court, Abuja Judicial Division, presided over by Justice M. G. Umar, granted a final forfeiture order in Suit No. FHC/ABJ/CS/1124/2025.
The court ordered the final forfeiture of Plot No. 5 in Cadastral Zone D12, Kaba District, measuring approximately 122,015.80 square metres, and Plot No. 4 in the same zone, measuring approximately 157,198.30 square metres, having found them to be properties suspected to be proceeds of unlawful activity.
According to the statement, the court further 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.
The court also mandated the ICPC, in collaboration with FMBN, to monitor and supervise the completion of the proposed 962 housing units and ensure they are allocated to the intended beneficiaries.
To achieve this, the court directed the establishment of a joint committee comprising representatives of both institutions to oversee the implementation of the project.
Dr. Aliyu said the Commission would immediately nominate its representatives, with the Constituency and Executive Project Tracking Division representing the ICPC on the committee.
He reiterated that asset recovery without effective management remains incomplete, adding that the true measure of success would be the completion of the housing estate and its equitable allocation to Nigerian families.
The ICPC Chairman also 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, the Managing Director and Chief Executive Officer of FMBN, Mr. Shehu Usman Osidi, commended the ICPC for its diligence and professionalism in recovering the property and ensuring that it would now be used for its original purpose.
He noted that the land had remained abandoned and unutilised for years, describing the Commission’s intervention as a demonstration of its commitment to protecting public assets and ensuring that recovered properties are put to productive use for the benefit of Nigerians.
