FCT GROUND RENT: TINUBU INTERVENES, GRANTS 14-DAY GRACE TO DEFAULTERS.

President Bola Tinubu has given property owners in the Federal Capital Territory (FCT) a 14-day ultimatum to pay outstanding ground rent and associated penalties.

This follows the sealing of several properties, including government institutions and corporate organizations, over unpaid ground rent amounting to over N6 billion.

The FCT Administration had revoked 4,794 properties with arrears ranging from 10 to 43 years, with property owners in different areas of the FCT expected to pay varying penalties, ranging from N2 million to N5 million, in addition to their ground rent arrears.

The FCT Minister, Nyesom Wike, has also given a 14-day grace period for property holders to pay their Right of Occupancy or Certificate of Occupancy bills, warning that failure to comply may result in revocation.