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Minister Wike Nyesom, FCT

The Federal Capital Territory (FCT) Administration has produced and signed 26,272 Certificates of Occupancy (C-of-O) since President Bola Ahmed Tinubu assumed office, FCT Minister Nyesom Wike has said.

The figure represents an increase of 17,575 certificates compared with the 8,697 C-of-Os produced and signed between 2010 and 2023, according to the administration.

TheTraffic discovered that the latest figures were disclosed in a statement issued on Sunday by Lere Olayinka, Senior Special Assistant to the FCT Minister on Public Communications and Social Media.

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Olayinka said the 26,272 certificates were issued under the Tinubu administration, with many beneficiaries having received their land allocations more than a decade ago but remained without the formal title documents.

He explained that the issuance of C-of-Os was critical to property owners and businesses because the documents could be used as collateral to obtain commercial loans, secure mortgages and finance business expansion.

According to him, the inability of property owners to obtain their certificates when needed had previously limited access to finance, particularly for small and medium-sized businesses.

The FCT Administration, he said, had consequently streamlined the process to reduce delays, with eligible land allottees now able to receive their C-of-Os within two weeks after completing the required payments.

“The moment necessary payments are made, land allottees can now get their C-of-O within two weeks,” Olayinka said.

He added that an automated notification system had also been introduced to alert applicants when their documents were ready for collection.

Olayinka attributed previous delays to administrative inefficiencies, which he said discouraged some landowners from completing the required payments and obtaining their title documents.

The statement compared the current administration’s performance with previous federal administrations, noting that 5,500 C-of-Os were produced and signed during the five-and-a-half-year administration of former President Goodluck Jonathan.

Under former President Muhammadu Buhari, 3,197 Certificates of Occupancy were produced and signed during his eight years in office.

The FCT Administration also disclosed that it had granted 2,521 Consents to Assign and 177 Consents to Mortgage during the first three years of the Tinubu administration.

This compares with 753 Consents to Assign and 180 Consents to Mortgage issued during the Jonathan administration, while the Buhari administration granted 684.

A Consent to Assign is the legal approval required for the transfer of an interest in a property, while a Consent to Mortgage is required before a property can be used as collateral for a loan.

The FCT Administration said the reforms were aimed at improving land administration, reducing bureaucratic bottlenecks and making property assets more useful for investment and economic development.

The Traffic NG
FCT Minister Wike Nyesom
Amarachi Ihesiulo
The Traffic NG

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