LunagisthubFCT Ground Rent: President Tinubu Grants 14-Day Grace to Defaulters
The Federal Capital Territory Administration (FCTA) had commenced enforcement on properties revoked for non-payment of Ground Rent, but following President Bola Tinubu’s intervention, defaulters have been granted a 14-day grace period to settle their outstanding rents with associated penalties.
The penalty structure varies depending on the location of the property. For instance:
– Properties in the Central Area: N5 million penalty + outstanding Ground Rent
– Properties in Maitama, Asokoro, Wuse II, and Guzape Districts: N3 million penalty + outstanding Ground Rent
– Properties in Wuse I, Garki I, and Garki II: N2 million penalty + outstanding Ground Rent
The President’s intervention has provided relief to property owners who had been facing enforcement action. The 14-day grace period allows defaulters to settle their outstanding rents and penalties, potentially avoiding further action.
Defaulters must take advantage of this opportunity to settle their outstanding rents and penalties within the specified timeframe. The FCTA will likely continue to enforce the ground rent payment policy after the grace period expires.
Lunagisthub
