ICPC Hands Over Forfeited Kaba District Estate Land in Abuja to FMBN for 962 Housing Units

The Independent Corrupt Practices and Other Related Offences Commission, ICPC, has handed over forfeited landed properties at Kaba District, Abuja, to the Federal Mortgage Bank of Nigeria, in compliance with the order of the Federal High Court.

ICPC Chairman, MUSA ADAMU ALIYU, performed the official handover of the forfeited properties to the Managing Director and Chief Executive of FMBN, SHEHU USMAN OSIDI, at the site of the Goodluck Jonathan Estate in Kaba District of Abuja.

MUSA ADAMU ALIYU described the event as a significant milestone in Nigeria’s asset recovery and restitution efforts, as the forfeited land formed part of a housing project conceived by the FMBN in 2012.

The project was financed through a $65 million (Sixty-Five Million US Dollar) loan facility secured by Good Earth Power Nigeria Limited, in partnership with an American firm, with the aim of delivering 962 housing units on approximately 27.92 hectares of land in Kaba District.

The ICPC Chairman said investigations revealed that the loan was completely diverted, with no housing units constructed, while some of the funds were allegedly routed through Bureaux de Change and taken abroad.

He said on December 11, 2025, the Federal High Court, Abuja Judicial Division, presided over by Hon. Justice M. G. Umar, granted a final forfeiture order of parcels of land, and directed the ICPC to facilitate the handover of the forfeited properties to FMBN as the victim of the alleged unlawful activity.

“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 Cadastral Zone, measuring approximately 157,198.30 square metres, as properties suspected to be proceeds of unlawful activity.”