The Housing Development Advocacy Network (HDAN) has commended the landmark court ruling ordering the forfeiture of 753 properties tied to corruption, calling for the government to auction the properties transparently and channel the proceeds into social housing for Nigerians.
Festus Adebayo, Executive Director of HDAN, praised the decision by Justice Jude Onwuegbuzie as a pivotal moment in Nigeria’s fight against graft and a step toward addressing the nation’s housing deficit.
“These properties should be auctioned in a transparent manner, with every naira generated directed toward building affordable housing for Nigerians who have been deprived of such opportunities due to corruption and looting of this nature,” Adebayo emphasized.
The seized properties, located on a sprawling 150,500-square-meter estate in Abuja’s Lokogoma District, represent Nigeria’s largest asset forfeiture to date. Adebayo highlighted the critical need for accountability in managing such assets, warning against past instances where forfeited properties disappeared into opaque processes.
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HDAN also stressed the importance of regulating Nigeria’s real estate sector to prevent it from being a haven for illicit funds. “The lack of scrutiny over large-scale developments funded by questionable sources undermines honest developers and the housing sector at large,” Adebayo said.
The organization called for the Federal Ministry of Housing to oversee the auctioning process, ensuring that the proceeds are transparently deposited into the Federal Treasury and earmarked exclusively for social housing initiatives.
“These assets should serve the public good. Corruption in the housing sector has robbed Nigerians of affordable homes, and it is only fair that these properties now contribute to addressing the housing challenges faced by millions,” Adebayo added.
HDAN remains committed to advocating for transparency, equity, and sustainable development in Nigeria’s housing sector, urging the government to seize this opportunity to rebuild trust and provide lasting solutions to the country’s housing deficit.
