The Federal Capital Territory Administration (FCTA) has placed caveat on properties in Abuja whose owners are facing trial over N29.5biliion Ground Rent Debt.
Director of Information & Communication, Muhammad Sule, explained that the caveat denies such titleholders access to the property.
A statement he signed said if the defendants lose in court, the caveat empowers the FCTA to effect a forfeiture order of their assets.
Sule added that the notice also safeguards the properties from being tampered with, especially by sale or ownership transfer while the matter is in court.
“The implication is that a caveat when placed on any property, whether developed or undeveloped, and even, if ground rent fully cleared, a written application must be submitted, and approval obtained before it can be lifted”, he said.
The FCTA is determined to recover all ground rent debt owed by property owners in Abuja, the spokesman assured.
In August, the government announced its preparedness to prosecute about 413 defaulting property owners by the end of August 2022.
FCT Permanent Secretary, Adesola Olusade earlier inaugurated a committee to recover outstanding debts and other sundry fees owed the administration of the nation’s capital.
