Tinubu Grants 14-Day Grace Period to FCT Ground Rent Defaulters Amid Property Revocations

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Tinubu Grants 14-Day Grace Period to FCT Ground Rent Defaulters Amid Property Revocations

Tinubu Grants 14-Day Grace Period to FCT Ground Rent Defaulters Amid Property Revocations

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President Bola Ahmed Tinubu has intervened in the ongoing enforcement actions against property owners in the Federal Capital Territory (FCT) who have defaulted on ground rent payments. This intervention comes after the FCT Administration (FCTA) initiated the revocation and sealing of 4,794 properties due to unpaid ground rents spanning 10 to 43 years. In response to the widespread enforcement, President Tinubu has granted a 14-day grace period for affected property holders to settle their outstanding ground rents along with associated penalties. The penalties are structured based on property locations: Central Area: N5 million penalty in addition to the owed ground rent. Maitama, Asokoro, Wuse II, Guzape: N3 million penalty plus outstanding ground rent. Wuse I, Garki I, Garki II: N2...

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