The Minister of the Federal Capital Territory (FCT), Nyesom Wike, has granted property owners who have defaulted on ground rent payments a 14-day grace period to settle their outstanding debts following intervention by President Bola Tinubu.

The FCT Administration had commenced sealing properties whose owners failed to pay ground rent, with some properties having been in default for periods ranging from 10 to 43 years. According to officials, 4,794 properties were marked for enforcement action before the presidential intervention.

Chijioke Nwankwoeze, Director of Land Administration in the FCT, announced that defaulters must pay both the outstanding ground rent and additional penalties based on the location of their properties.

"Properties owned by government institutions, corporate organisations and individuals were affected. This demonstrates the Federal Capital Territory Administration's commitment to carrying out its functions without fear or favour," Nwankwoeze stated.

The penalty structure varies by location:

- Property owners in the Central Area will pay N5 million as penalty plus the outstanding ground rent

- Those in Maitama, Asokoro, Wuse II, and Guzape districts will pay N3 million as penalty in addition to the ground rent owed

- Defaulters in Wuse I, Garki I and Garki II will pay N2 million as penalty plus the outstanding ground rent

The directive also extends to property buyers who have not obtained the mandatory Minister's Consent or registered their Deeds of Assignment. They now have 14 days to complete these processes at the FCT Department of Land Administration.

Wike further warned that property owners who fail to pay their Right of Occupancy/Certificate of Occupancy bills within the grace period risk having their titles revoked.

"Going forward, the Minister has advised property owners in the FCT to ensure that they pay all necessary bills and charges on their properties as and when due, so as to enable the government to continue to carry out necessary developmental projects for the benefit of the people," the statement concluded.

The enforcement action has reportedly affected various high-profile properties, including those belonging to government institutions and corporate organizations, highlighting the administration's resolve to boost revenue generation in the Federal Capital Territory.