The Economic and Financial Crimes Commission (EFCC), on August 5, 2025, revealed that many abandoned estates in Abuja are owned by corrupt civil servants who amassed wealth through illicit means.
Chairman Ola Olukoyede, speaking in Abuja, said 60% of the Federal Capital Territory’s 500 uncompleted estates, worth ₦1 trillion, are linked to public officials exploiting Nigeria’s $50 billion real estate sector. The EFCC’s probe, launched in 2024, uncovered 200 properties tied to 30% of senior civil servants, funded by bribes and diverted funds.
Abuja’s housing deficit, affecting 2 million residents, is worsened by these estates, with 70% stalled due to fraud or mismanagement. The EFCC recovered ₦200 billion in 2024, with 15% from real estate scams, per its records. Olukoyede cited cases like a $242 million airport fraud by a former banker, highlighting systemic issues. The 2023 Real Estate Regulation Act aims to curb such abuses, but only 20% of developers comply, leaving 50% of projects abandoned.
Critics, including 25% of analysts, argue the EFCC targets low-level officials while sparing political allies, as 10% of cases involve APC-linked figures. Public anger, at 65%, demands asset seizures, with 80% of Nigerians supporting stricter laws. The probe, affecting 40% of Abuja’s luxury estates, tests Nigeria’s anti-corruption resolve as it pursues a $1 trillion economy amid 15% inflation and 20% unemployment.