The Federal Capital Territory Administration has temporarily suspended its ongoing enforcement of revocation order on properties defaulting on decades of ground rent, following the intervention of President Bola Ahmed Tinubu.
The intervention comes on the heels of Monday’s ction by the FCTA, which saw multiple properties including public buildings, sealed over longstanding default in ground rent payments.
The move sparked concern among stakeholders, including the Federal Inland Revenue Service, FIRS, regarding the status of properties acquired from third parties but not yet formally registered. …CONTINUE READING
Director of Land Administration, Chijioke Nwankwoeze, while announcing the development to journalists Monday night, announced that property holders have been given a 14 days grace period within which to settle all outstanding ground rents, with associated penalties.
In his words, “The President, His Excellency Bola Tinubu, has intervened. Therefore, by Mr. President’s intervention, holders of the affected properties now have 14 days (TWO WEEKS) to settle the outstanding Ground Rents, with associated penalties.”
With the revised terms, the FCTA has also imposed area-specific penalties in addition to the unpaid rents. For instance, properties in the Central Area are to pay a N5million fine in addition to the ground rent while those in Maitama, Asokoro, Wuse II, and Guzape Districts are to pay the sum of N3 million as penalty.
He said, “For properties in the Central Area, the sum of N5 million will be paid by the defaulters as penalty, in addition to the Ground Rent owed. Those in Maitama, Asokoro, Wuse II, and Guzape Districts will pay the sum of N3 million as penalty, in addition to the Ground Rent owed. Defaulters in Wuse I, Garki I and Garki II will pay N2 million as penalty in addition to the Ground Rent owed.”
He further disclosed that individuals who acquired properties from others but failed to regularise their ownership documents have also been given a two-week ultimatum.
“All those who purchased properties from other people, but are yet to register their interests by obtaining the mandatory Minister’s Consent and registering their Deeds of Assignment now have 14 days (TWO WEEKS) to do so at the FCT Department of Land Administration,” he said.
Additionally, a separate grace period has been extended by the FCT Minister, Nyesom Wike, to all property holders in the territory.
“The Minister of the Federal Capital Territory, Nyesom Wike, has granted a 14 days (TWO WEEKS) grace period to all property holders in the FCT to pay up their Right of Occupancy (R-of-O)/Certificate of Occupancy (C-of-O) bills, or risk revocation of those titles.”
Nwankwoeze therefore urged all property owners to settle their financial obligations promptly stating that, “Going forward, the Minister has advised property owners in the FCT to ensure that they pay all necessary bills and charges on their properties as at and when due, so as to enable the government to continue to carry out necessary developmental projects for the benefit of the people.”
