Wike signs 26,272 Certificates of Occupancy in three years, FCTA reports

FCT Minister Nyesom Wike has signed 26,272 Certificates of Occupancy, significantly surpassing previous records and streamlining the C-of-O process. Read More: https://punchng.com/wike-signs-26272-c-of-os-in-three-years-surpassing-13-year-record/

The Federal Capital Territory (FCT) Minister, Nyesom Wike, has revealed that the FCT Administration has signed 26,272 Certificates of Occupancy (C-of-O) since President Bola Ahmed Tinubu assumed office.According to a statement issued on Sunday by Lere Olayinka, Senior Special Assistant on Public Communications and Social Media, the figure represents a sharp increase compared to previous administrations. Between 2010 and 2023, only 8,697 Certificates of Occupancy were signed 5,500 under former President Goodluck Jonathan and 3,197 under former President Muhammadu Buhari.Olayinka explained that many beneficiaries had waited over a decade for their land allocations to be formalized. He emphasized that the issuance of Certificates of Occupancy is crucial for businesses, as the documents can serve as collateral for loans, mortgages, and expansion projects.He noted that delays in the past had restricted access to funding for property owners and small businesses. To address this, the FCT Administration has streamlined the process, enabling land allottees to receive their Certificates within two weeks of completing payments. Automated notifications have also been introduced to alert beneficiaries when their documents are ready.The statement further disclosed that the FCT Administration granted 2,521 Consents to Assign and 177 Consents to Mortgage during Tinubu’s first three years in office. This compares with 753 Consents to Assign and 180 Consents to Mortgage under Jonathan, and 684 Consents to Assign and 164 Consents to Mortgage under Buhari.A Consent to Assign is required for transferring property rights, while a Consent to Mortgage is needed before a property can be used as collateral for loans.

The Federal Capital Territory (FCT) Administration has signed 26,272 Certificates of Occupancy (C-of-O) since President Bola Ahmed Tinubu assumed office, according to the FCT Minister, Nyesom Wike. The figure is 17,575 higher than the 8,697 Certificates of Occupancy produced and signed between 2010 and 2023. According to a statement issued on Sunday by Lere Olayinka, Senior Special […] FCT: Wike signs 26,272 Certificates of Occupancy under Tinubu

The Federal Capital Territory Administration FCTA has disclosed that nearly three times as many Certificates of Occupancy have been issued to land allottees in the territory in the three years of the President Bola Tinubu administration as were issued across the 13 years of previous administrations. The post Wike signs 26,272 Cs of O in 3yrs – FCTA appeared first on Vanguard News.