Court orders interim forfeiture of land for Goodluck Jonathan Estate over alleged $65m fraud
The Federal High Court in Abuja on Wednesday, July 9, granted an application by the Independent Corrupt Practices and Other Related Offences Commission (ICPC) to temporarily take over two large plots of land originally approved for the Goodluck Jonathan Legacy Model Housing Estate.
Justice Mohammed Umar issued the interim forfeiture order after ICPC counsel, Osuobeni Akponimisingha, moved a motion ex parte seeking to secure the properties pending the outcome of the substantive suit.
According to the ruling, the lands—valued at over ₦5.2 billion—are located at Plot No. 4 and Plot No. 5 in Cadastral Zone D12, Kaba District, Abuja, and were originally allocated by the Federal Capital Territory Administration (FCTA) for the construction of 962 residential housing units through the Federal Mortgage Bank of Nigeria (FMBN).
The ICPC argued that the plots were suspected to be proceeds of unlawful activities and risked being sold off to unsuspecting buyers. The agency sought an order authorizing it to take possession of and secure the land to prevent further misuse.
The commission also requested that the court direct it to publish a notice in a national newspaper for any interested parties to appear and show cause why the properties should not be permanently forfeited to the federal government.
In the motion ex parte marked FHC/ABJ/CS/1124/2025, the ICPC listed the FMBN as the sole respondent. In support of the application, an officer of the ICPC, Iliya Marcus, stated in a sworn affidavit that the commission launched an investigation after receiving intelligence regarding the misuse of public funds.
Marcus disclosed that the FMBN had obtained approval to begin the housing estate project on July 30, 2012, and subsequently signed a framework agreement with a private developer, Good Earth Power Nigeria Limited, on January 27, 2012. A consultant was appointed on February 1, 2012, to monitor the project.
The FMBN reportedly secured a $65 million loan from Ecobank Limited for the construction of the housing units, which were intended for low-income earners. On November 22, 2012, the FMBN disbursed ₦3.785 billion to Good Earth Power Nigeria Limited as part of the drawdown.
However, according to the ICPC, the developer had not constructed a single house despite receiving the full project funds. Furthermore, there was no record of the company being registered with the Real Estate Developers Association of Nigeria—a necessary condition for such disbursement.
The commission raised concerns that the developer, along with some foreign nationals involved in the project, had fled the country and were unreachable. It warned that if the properties were not secured immediately, they might be sold off and become irrecoverable, similar to the alleged mismanagement of the $65 million loan.
ICPC counsel Akponimisingha emphasized that this interim forfeiture was separate from the ongoing criminal trial of Good Earth Power Nigeria Limited before Justice James Omotosho. He explained that the forfeiture application was aimed at safeguarding public interest and ensuring that the assets were preserved for their intended use.
In his ruling, Justice Umar granted the interim forfeiture and questioned why the entire project sum was disbursed upfront without any observable progress on the ground. He ordered that the ICPC take control of the properties and adjourned the matter until October 27 for a report on compliance and further proceedings.
