FCTA begins recovery of N29.5bn owed by Abuja property owners

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The Federal Capital Territory Administration (FCTA) has commenced work on the recovery of debts.

Permanent Secretary, Adesola Olusade on Thursday inaugurated a Coordinating Committee on the Recovery of Outstanding Ground Rents.

The 9-member team is headed by the FCT General Counsel/Secretary of Legal Services Secretariat, Muhammed B. Umar.

The FCTA lamented that the sum of N29,506,643,943 is being owed by property owners in Abuja.

Olusade said funds were needed to run the government, provide infrastructure and deliver quality services to residents.

The official explained that funding of FCTA activities is being hampered due to paucity of funds.

“Despite all these efforts, the rate of revenue generation has not met the realities on ground, hence the need to exploit other frontiers.

“The decision to embark on recovery of Ground Rents has become a matter of necessity. We are serious about this. All those owing should come forward to settle their debts”, he said.

Olusade added that the improvement in revenue generation was a top priority of the administration.

The PS said the FCTA already migrated all revenue collections to the Treasury Single Account (TSA) via the REMITA Platform.

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