The Federal Capital Territory (FCT) is currently engulfed in a property ownership crisis after Governor Nyesom Wike unexpectedly revoked over 1,000 land titles in Abuja. The decision, which has sparked outrage among property owners and real estate stakeholders, centers on alleged irregularities and non-compliance with the ground rent payment regulations mandated by the FCT administration. Authorities claim that the revocations are necessary to uphold statutory laws governing land tenure and to curtail widespread abuses in the issuance of property titles.

Stakeholders affected by the revocation have raised several concerns, including:

  • Lack of prior notice: Many claim they were not properly informed before the cancellation of their land titles.
  • Questionable legality: Legal experts argue that some revocations may contravene existing property laws.
  • Impact on investments: Property developers fear significant financial losses and disruption of ongoing projects.

In response, the FCT administration has promised to review all contested cases through a dedicated panel established to ensure fairness and transparency. Meanwhile, market analysts predict a short-term slump in the Abuja real estate sector as uncertainty looms over property rights.

Category Number Affected Status
Residential Properties 750 Revoked
Commercial Properties 200 Under Review
Government Allocated Land 100 Cleared