THE FEDERAL High Court in Abuja on Wednesday granted an interim forfeiture order in favour of the Independent Corrupt Practices and Other Related Offences Commission (ICPC) over two plots of land initially approved for the Goodluck Jonathan Legacy Model Housing Estate.
Presiding judge, Justice Mohammed Umar, issued the order following an ex-parte motion filed by ICPC’s counsel, Osuobeni Akponimisingha.
The court directed that the properties, valued at billions of naira and approved by the Federal Mortgage Bank of Nigeria (FMBN), be temporarily forfeited pending the hearing and determination of the substantive suit.
The ICPC, in its application (FHC/ABJ/CS/1124/2025), listed FMBN as the sole respondent and sought the forfeiture of Plot No. 5 in Cadastral Zone D12, Kaba District, Abuja, measuring approximately 122,015.80 square meters and valued at ₦1,944,375,000 and Plot No. 4 in the same district, measuring approximately 157,198.30 square meters and valued at ₦3,340,500,000.
The commission alleged that the plots of land were acquired as proceeds of unlawful activity and requested an order to take possession and secure the properties to prevent their sale or conversion for personal use.
The ICPC also sought permission to publish a notice in a national newspaper, inviting interested parties to show cause why the assets should not be permanently forfeited to the Federal Government.
Background to the Case
In an affidavit deposed to by ICPC investigator, Iliya Marcus, the commission stated that it received intelligence indicating that FMBN engaged a private developer, Good Earth Power Nigeria Limited, to construct 962 residential housing units under the National Housing Fund Scheme.
Investigations revealed that FMBN secured a $65 million loan from Ecobank Limited for the project and paid the full amount to the developer in November 2012 without evidence of compliance with due process. Despite the disbursement, no houses were built on the land.
Marcus further disclosed that the developer, allegedly in collaboration with some foreign nationals, had attempted to sell the land to unsuspecting buyers. He warned that failure to secure the property could lead to its dissipation, similar to the mismanagement of the $65 million project fund.
Court Proceedings
During the hearing, Akponimisingha informed the court that the housing project, initiated during former President Goodluck Jonathan’s administration, was meant to provide affordable housing but had been abandoned after the developer received the funds.
He noted that the land, now worth over ₦200 billion, risked being lost if not secured.
Justice Umar, while granting the interim forfeiture, questioned why the entire project sum was paid upfront without commensurate progress.
This development follows an ongoing trial of Good Earth Power Nigeria Limited before Justice James Omotosho of a sister court, though the forfeiture application is a separate proceeding aimed at preserving the assets for public interest.
The case was adjourned to October 27 for a compliance report. (NAN)
