In a recent announcement, the Minister of the Federal Capital Territory (FCT), Nyesom Wike, revealed that the FCT Administration has set the cost of issuance of a Certificate of Occupancy (C-of-O) at N5 million. Wike made this declaration during a meeting with estate developers in Abuja on Tuesday.
According to Wike, applicants will have a four-month window to make the payment after the allocation of land. Once the payment is completed, the C-of-O will be handed over to the applicant. Additionally, Wike expressed his intention to seek the approval of President Bola Tinubu to link applicants' national identification numbers (NIN) to C-of-Os before issuance.
The minister emphasized that the practice of multiple individuals being allocated the same plot of land with counterfeit C-of-Os would no longer be tolerated. He stated, "Allocation of land to three or more persons will no longer be allowed because the C-of-O enables you to do business."
Wike acknowledged that while some people may not be pleased with the new regulations, it is crucial to make decisions that benefit the majority. He also highlighted the importance of transparency and fairness in land allocation processes.
This move by the FCT Administration aims to streamline the issuance of C-of-Os, ensuring that genuine applicants receive their documents promptly and that fraudulent practices are curbed. The implementation of linking NINs to C-of-Os will further enhance the authenticity and credibility of land ownership in the FCT.
As the FCT continues to develop and attract investment, these measures are expected to foster a more secure and efficient land administration system, providing a conducive environment for businesses and individuals alike.
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