Mr Nyesom Wike, Minister of the Federal Capital Territory (FCT), says the FCT Administration has pegged the cost of issuance of a Certificate of Occupancy (C-O) at N5 million.
Wike made the pronouncement at a meeting he held with estate developers in Abuja.
He said the payment could be made within four months of land allocation, after which the C-O would be handed over to the applicant.
He added that he would seek the approval of President Bola Tinubu to link applicants’ national identification numbers to C-of-Os before issuance.
Wike said the era where three or more people were allocated the same plot of land with fake C-Os was over.
“Allocation of land to three or more persons will no longer be allowed because the C-of-O enables you to do business.
“When we make the right decision, some people will be happy, and some will not. The rich will kick against some of our decisions, but anything that will help our people must be done.
“I want to stand firm and tell you this: I’ve ended after four months. It will not go beyond four months,” he stated.
On the suggestion by the residents that the flat rate of N5 million for the issuance of C of Os should be reviewed to reflect the size and location of the property, the Minister insisted that a C of O is a business and security document that is not necessarily graded according to the size of the property or its location and insisted that a flat rate of N5 million must be paid for its collection. He, however, hinted at the possibility of a review of this sum.
He said, “If you want to have a C of O, which is a security and business document, it is not graded based on one-bedroom flat or two-bedroom flat.”
Also speaking on the prudence adopted in the management of finances, Barrister Wike revealed that the FCT Administration in the last three months has saved not less than N110 billion for the FCT.
He said the money will be attached to projects to accelerate their completion.
The Minister said, “Three months in office, I can tell you authoritatively, I have saved not less than N110 billion for FCT, and this money will be attached to projects so that people will indeed see that the taxes we are paying are being utilised for the interests of the people”.
The Minister expressed worries that workers’ salaries at the FCT Administration and the Federal Capital Development Authority gulped N8.9 billion monthly.
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