The Independent Corrupt Practices and Other Related Offences Commission (ICPC) has handed over recovered land meant for the Goodluck Jonathan Estate in Abuja’s Kaba District to the Federal Mortgage Bank of Nigeria (FMBN) to revive and complete a stalled 962-unit housing project
The handover took place on Tuesday, with ICPC Chairman Musa Aliyu presenting the property to FMBN Managing Director and Chief Executive, Shehu Osidi, in the presence of officials from both organisations.
Aliyu explained that the housing project was launched by FMBN in 2012 and funded through a $65 million loan secured by Good Earth Power Nigeria Limited in partnership with an American company. The project was expected to provide 962 homes across about 27.92 hectares of land.
However, investigations by the ICPC revealed that the loan was allegedly diverted and no houses were built. The commission also alleged that part of the money was moved through bureaux de change and transferred out of Nigeria.
He said the anti-corruption agency filed both civil and criminal cases over the matter. While the civil case has been concluded, the criminal trial is still ongoing.
According to Aliyu, Justice M. G. Umar of the Federal High Court in Abuja ordered the final forfeiture of two plots in Cadastral Zone D12, Kaba District, on December 11, 2025, after ruling that they were proceeds of unlawful activities.
The court also directed the ICPC to transfer the land to FMBN, recognising the bank as the victim in the case. It further ordered both agencies to supervise the construction of the 962 housing units and ensure they are allocated to the intended beneficiaries.
Aliyu added that the court approved the establishment of a joint ICPC-FMBN committee to monitor the project, with the commission expected to nominate its representatives through its Constituency and Executive Project Tracking Division.
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