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Tuesday, October 4, 2022

FCTA in conjunction with REDAN will cooperate with relevant authorities to expose properties acquired with ill-gotten funds

The Minister of the Federal Capital Territory (FCT) Malam Muhammad Musa Bello said they are working closely with the Real Estate Development Association of Nigeria (REDAN), the National Assembly as well as the EFCC and ICPC to identify and prosecute individuals and organisations that have used ill-gotten funds to acquire and launder properties within the territory.

He disclosed this on Friday 3rd December while commissioning the 5 storey office complex of the Abuja Property Development Company (APDC) located at Plot 1329, Peace Drive, Central Business District, Abuja.

. Malam Bello also said that staff of the FCTA who signs off on, and allows illegal buildings to be developed will also be punished saying “for every property that is allowed to stand and an official somewhere has not done his or her work, we will not spare these officials as well because at the end of the day, it is the off-takers that lose out’’
He said FCT authorities will make it difficult for corrupt people to use the Federal Capital City as a haven to launder illicit wealth and all staff that are collaborators will also face the music.

The FCT Minister advised off-takers or other investors who wish to purchase any property to do their due diligence and ensure that the properties they are interested in, are genuine and the developer, was genuine also.

Bello assured genuine developers and investors that their properties will not be touched as long as their properties were erected on genuinely allocated land with the proper documents adding that they should also procure the services of a solicitor for legal guidance and advice before concluding any purchase.

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