The Independent Corrupt Practices and Other Related Offences Commission (ICPC) has officially transferred forfeited land in the Goodluck Jonathan Estate, Kaba District, Abuja, to the Federal Mortgage Bank of Nigeria (FMBN).
The handover took place on Tuesday at the estate site and was supervised by ICPC Chairman Dr. Musa Adamu Aliyu, SAN, and FMBN Managing Director/Chief Executive Mr. Shehu Usman Osidi.
Dr. Aliyu described the transfer as a major milestone in Nigeria’s asset recovery efforts, stressing the need to return recovered assets to productive public use. The land, spanning approximately 27.92 hectares, was originally part of a 2012 housing project by FMBN aimed at delivering 962 housing units.
It was financed through a $65 million loan obtained by Good Earth Power Nigeria Limited in partnership with an American firm. Investigations revealed that the loan was allegedly diverted, with no houses built and some funds moved overseas through Bureaux de Change.
ICPC filed both civil and criminal
This post was originally published on this site.
