ICPC Transfers Abuja Land to FMBN for Housing Project

The Independent Corrupt Practices and Other Related Offences Commission (ICPC) transferred forfeited land in Abuja to the Federal Mortgage Bank of Nigeria (FMBN) on Tuesday, following a court order. This transfer is intended to enable the completion of a stalled 962-unit housing project linked to an alleged loan diversion scheme.

ICPC Chairman Dr. Musa Adamu Aliyu, SAN, conducted the formal handover at the Goodluck Jonathan Estate site in Kaba District.

The land was part of a housing project initiated by FMBN in 2012, financed through a $65 million loan secured by Good Earth Power Nigeria Limited. Investigations revealed that the loan was allegedly diverted, with no housing units constructed.

The Federal High Court in Abuja, on December 11, 2025, granted a final forfeiture order for the properties, which were deemed proceeds of unlawful activity. The court directed ICPC to hand over the land to FMBN and mandated both institutions to supervise the construction of the housing units and establish a joint committee for project oversight.