ICPC Transfers Forfeited Land to FMBN in Abuja
The Independent Corrupt Practices and Other Related Offences Commission (ICPC) formally handed over forfeited landed properties in Kaba District, Abuja, to the Federal Mortgage Bank of Nigeria (FMBN) on Tuesday. This action was in compliance with a final forfeiture order issued by the Federal High Court on December 11, 2025, in Suit No.
FHC/ABJ/CS/1124/2025. The handover was conducted by ICPC Chairman Dr. Musa Adamu Aliyu, SAN, alongside FMBN Managing Director/CEO Mr. Shehu Usman Osidi.
The forfeited land, part of a housing project initiated by FMBN in 2012, was financed through a $65 million loan from Good Earth Power Nigeria Limited and an American partner. Investigations revealed the loan was diverted, with no housing units constructed.
The court ordered the final forfeiture of two plots of land, totaling approximately 279,214.10 square meters, and mandated ICPC and FMBN to oversee the construction of 962 housing units. A joint committee will be established to ensure proper management of the recovered assets.
Plus234Feed summary based on reporting from Blueprint. Read the original report below.
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