Revocation Ultimatum Leads to N1 Billion Debt Recovery in FCT”

The Federal Capital Territory (FCT) has seen a significant boost in revenue after the FCT issued an ultimatum to property owners owing ground rents to settle their debts or risk having their property revoked.

Thanks to the surge of property owners who rushed to settle their bills in order to avoid the possibility of revocation, the FCT has collected N1 billion in just one month. As creditors rush to pay off their obligations before the deadline, the Abuja Geographic Information Systems (AGIS) headquarters has been humming with activity.

The acting director of AGIS, Isiaku Ndatsu Alfa, reported a noticeable increase in ground rent payments since the announcement by the minister and the publication of the list of debtors. The revenue rose to N500 million and has continued to increase steadily, surpassing N1 billion by September 17, 2023. The revenue is expected to double by the end of the month, attributing the surge in revenue to the minister’s order and the public shaming of debtors.

By the end of the year, the FCT plans to develop an online platform for ground leases and other expenses. Jibril Adamu Husseini, the acting director of AGIS, applauds the FCT for taking action quickly and asserts that this is the best way to recover the over N34 billion in debt owing to the FCT.