C-of-O: Wike Lists New Requirements For Existing, New Abuja Property Owners

Related stories

China Snubs U.S. Crude for Third Month, Even as Ethane Trade Restarts

China has avoided buying U.S. crude oil for three...

Super Eagles Icon Peter Rufai Passes Away at 61

By Abiola Olawale The Nigerian football community has been thrown...

Dakuku Peterside’s Beneath the Surface Book Out in October

By Abiola Olawale Masobe Books, a renowned publisher has announced...

Oil Prices Dip on Confirmation of Inventory Build

Crude oil prices opened weaker today following Wednesday’s release...

Buhari In Stable Condition – Ex-Aide Confirms

By Abiola Olawale Ahmed Bashir, ex-aide to the immediate past...

The Federal Capital Territory (FCT) Minister, Nyesom Wike, on Friday, said that the National Identification Number (NIN) and Bank Verification Number (BVN) are part of the requirement for new landowners to obtain a Certificate of Occupancy (C-of-O) in Abuja

Speaking to newsmen in Abuja, Wike also noted that existing landowners in the capital must get recertification to incorporate these new features.

According to the minister, he has been refraining from signing C-of-Os during his tenure as the FCT minister to introduce enhanced security measures, such as the inclusion of NIN for individuals and BVN for corporate bodies.

“There are a lot of discrepancies, a lot of cloning of C-of-Os, so we have come up with an idea that every allottee who seeks and applies for a C-of-O must supply his NIN; this is one of the features we are going to put in the new C-of-O,” he said.

“If a corporate body doesn’t have an NIN and they have a property, they must put their BVN. So many persons have not registered, and this will make them go and re-register.”

Addressing the issue of existing landlords with C-of-Os, Wike stated that they would only be required to pay a nominal fee for recertification.

“For everyone who has a C-of-O, they will come for a recertification, so that we can incorporate the NIN or BVN,” he said.

“Those who had a C-of-O before don’t need to pay money again; the highest they can pay is N50,000, and corporate bodies will pay N100,000. It helps in terms of security; it also helps to improve our revenue generation.”

“There are people who own seven properties, so this will identify them so they can pay taxes.”

Furthermore, Wike highlighted the benefits of this initiative in identifying property owners accurately for tax purposes.

He also addressed the proposed N5 million fee for C-of-O from the annual ground rent, explaining that the fee is based on land ownership rather than the structure built on it.

“The task force proposed N5 million, and the stakeholders said let it be reduced. They asked, ‘If it’s going to be on properties four-bedroom or bed-bedroom?’, again, you have to understand that the C-of-O is not based on the building but the land. The only difference is the annual ground rent.

“The one with a two-bedroom property cannot pay the same as the person with a three-bedroom property,” he said.

Hamilton Nwosa
Hamilton Nwosa
Hamilton Nwosa is an experienced, and committed communication, business, administrative, data and research specialist . His deep knowledge of the intersection between communication, business, data, and journalism are quite profound. His passion for professional excellence remains the guiding principle of his work, and in the course of his career spanning sectors such as administration, tourism, business management, communication and journalism, Hamilton has won key awards. He is a delightful writer, researcher and data analyst. He loves team-work, problem-solving, organizational management, communication strategy, and enjoys travelling. He can be reached at: hamilton_68@yahoo.com

Subscribe

- Never miss a story with notifications

- Gain full access to our premium content

- Browse free from up to 5 devices at once

Latest stories

NDN
Latest News
China Snubs U.S. Crude for Third Month, Even as Ethane Trade RestartsSuper Eagles Icon Peter Rufai Passes Away at 61Dakuku Peterside’s Beneath the Surface Book Out in OctoberOil Prices Dip on Confirmation of Inventory BuildBuhari In Stable Condition - Ex-Aide ConfirmsBREAKING: Ex-President Buhari sick, hospitalised abroad2027: Abure, Usman Clash Over Peter Obi’s Rising Profile in ADC CoalitionMTN’s Dabengwa Tier III Cloud Data Centre: A New Era for West African Tech and AIGanduje: Why are they resigning?OPEC Reports a Global Oil Production Decline in 2024IMF Warns FG to Overhaul 2025 Budget to Prevent Economic Meltdown2027: Peter Obi Vows, Says ADC Coalition 'll prioritize Nigerians’ WelfareTragedy! Liverpool Star Diogo Jota Dies in Car Crash in SpainFamily Announces Burial Date of Ex-Kwara Governor, Cornelius AdebayoSex Scandal: Baltasar Engonga, Ex-Equatorial Guinea Anti-Corruption Boss Bags 18 Years
X whatsapp