• About
  • Advertise
  • Careers
  • Contact Us
Thursday, June 19, 2025
  • Login
No Result
View All Result
NEWSLETTER
Tech | Business | Economy
  • News
  • Tech
    • DisruptiveTECH
    • ConsumerTech
    • How To
    • TechTAINMENT
  • Business
    • Mobility
    • Environment
    • Travel
    • StartUPs
  • Economy
  • TECHECONOMY TV
  • TBS
  • About Us
  • Contact Us
  • Telecoms
  • News
  • Tech
    • DisruptiveTECH
    • ConsumerTech
    • How To
    • TechTAINMENT
  • Business
    • Mobility
    • Environment
    • Travel
    • StartUPs
  • Economy
  • TECHECONOMY TV
  • TBS
  • About Us
  • Contact Us
  • Telecoms
No Result
View All Result
Tech | Business | Economy
No Result
View All Result
ADVERTISEMENT
Home Economy Finance

FCTA Seals FIRS, Access Bank Over 25-Year Ground Rent Default

by Latifat Fashina
May 26, 2025
in Finance
0
FCTA Seals FIRS, Access Bank Over 25-Year Ground Rent Default
Sealed FIRS Building

Sealed FIRS Building

UBA
Advertisements

The Federal Capital Territory Administration (FCTA) on Monday sealed the Federal Inland Revenue Service (FIRS) office, an Access Bank branch, and a fuel station in Abuja over non–payment of ground rent.

Speaking during the exercise, Chijoke Nwankwoeze, director of Lands at the FCTA, explained that the operation marked the commencement of enforcement against 4,794 properties whose land titles were revoked due to non-payment of ground rent.

He further disclosed that the FIRS office, located on Plot 627, Wuse Zone 5, had failed to pay ground rent for 25 years. Similarly, the Access Bank building on Plot No. 2456, Wuse I, Cadastral Zone AO2, owned by Rana Tahir Furniture Nigeria Limited, had outstanding ground rent payments spanning 34 years.

Mukhtar Galadima, director of Development Control, stated that the sealed properties were in furtherance of the FCTA’s plan to reclaim over 4,000 properties. 

He said, “Today is just to comply with what we have said that we are going to take over all the revoked properties, and we are starting with Plot 534, Cadastral Zone AO2 at Wuse Zone 1, owned by Total PLC.”

Last week, the FCTA announced its intention to commence the physical takeover of affected properties, following repeated warnings to defaulters. It was revealed that the total outstanding ground rent owed by property owners had reached over N6.9 billion, leading to the revocations.

Loading

Advertisements
MTN ADS

0Shares
Tags: Abuja Ground Rent DefaultAbuja Land DisputeAccess Bank Sealed AbujaFCTAFCTA Land RevocationFCTA Seals FIRSFederal Capital Territory.FIRS Ground RentNigeria Government ActionNigeria Property EnforcementNon-Payment Ground Rent
Latifat Fashina

Latifat Fashina

LATIFAT FASHINA is the Business/Finance Reporter at Techeconomy. She can be reached via: latifat.fashina@techeconomy.ng

Next Post
Airtel Photo AI SPAM ALERT - Copyright - Techeconomy

Airtel AI Spam Alert Service Flags 9.6 million Spam Attempts in Two Months

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms & Conditions and Privacy Policy.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Recommended

Smile VoLTE Smartphone

Introducing Smile A955Z VoLTE smartphone

5 years ago
Check Point to acquire Veriti

Check Point to Acquire Veriti Cybersecurity

3 weeks ago

Popular News

    Connect with us

    • About
    • Advertise
    • Careers
    • Contact Us

    © 2017 TECHECONOMY.

    No Result
    View All Result
    • News
    • Tech
      • DisruptiveTECH
      • ConsumerTech
      • How To
      • TechTAINMENT
    • Business
      • Mobility
      • Environment
      • Travel
      • StartUPs
    • Economy
    • TECHECONOMY TV
    • TBS
    • About Us
    • Contact Us

    © 2017 TECHECONOMY.

    Welcome Back!

    Login to your account below

    Forgotten Password?

    Retrieve your password

    Please enter your username or email address to reset your password.

    Log In
    Translate »
    This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.