The Minister of Federal Capital Territory (FCT), Nyesom Wike, has said that issuance of Certificates of Occupancy will now cost N3.5 million, a reduction from the previously proposed cost of N5 million.
Wike disclosed this Friday during his second monthly ministerial media parley.
He explained that the decision to reduce the cost of C of O was based on the recommendations of the Task Force set up on the issuance of C of Os, in mass housing estates and recovery of land use contravention fees.
TheHintsNews reports that the Task force had proposed the payment of the sum of N5 million which was largely objected to by stakeholders, prompting the organisation of an interface between estate developers as well as residents’ associations.
The minister, during that meeting had hinted at the possibility of a downward review of the cost of issuance of the land document.
Wike added that new security features such as the National Identification Number (NIN) and the Bank Verification Number (BVN) for individuals and corporate organisations respectively will be incorporated in the new Certificates.
He pointed out that payment of the N3.5 million will not apply for recertification, but would be applicable only for new issuances.
Wike noted: “Those who have C of O don’t need to pay this money. The highest you can pay is maybe N50,000 and corporate bodies, maybe N100,000 because you already have C of O. All you are doing is to recertify in order to incorporate these new features.”
Speaking on the efforts to improve revenue generation in the FCT, the minister also reiterated that the FCT Administration would enforce the payment of property tax and ground rent, warning that those who fail to pay will have their allocations revoked. He stressed that to shore up IGR, payment of ground rent has to be enforced.
He said, “Over the years, nobody has been able to enforce the payment of ground rent. I came on board and I said okay, it can’t be business as usual. You have property, you are given a C of O to back up your property. In that C of O, you are told to be paying annual ground rent. For the past 15 years, you didn’t pay. Some people, for the past 20 years, they never paid.
“And you know Nigerians, they said nothing will happen. I came and said something will happen and they have to pay. Seeing that we mean what we have said, if you don’t pay, we will revoke and we have been doing that, people are now queuing up to pay. Go to AGIS, people are queuing up and that has now increased our IGR.”