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

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

Latifat Fashina by Latifat Fashina
May 26, 2025
in Finance
Reading Time: 1 min read
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FCTA Seals FIRS, Access Bank Over 25-Year Ground Rent Default

Sealed FIRS Building

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.”

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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.

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Latifat Fashina

Latifat Fashina

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

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