Mass housing: FG moves to deal with lease agreement defaulters to recover lost revenue

Mass housing developers in the Federal Capital Territory who failed to comply with the statutory requirements for their development or defaulted in payments would soon face the long arm of the law.

The chairman, Special Presidential Investigation Panel for Recovery of Public Property, Chief Okoi Obono-Obla, gave this indication yesterday in Abuja when he visited the FCT minister Muhammad Musa Bello.

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According to him, out of the over 300 beneficiaries of mass housing land in the FCT, only 64 developers have completed and signed lease agreement, while a whopping 79 percent have failed to comply with statutory requirements and payments.

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He said the total fees collected so far, amounting to N1.08bn, falls short of what should have been realized by the FCT Administration.

Credit: Daily Trust