Home Uncategorized FCTA Inaugurates Recovery Committee

FCTA Inaugurates Recovery Committee

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— Aims At Recovering N29BN Debt

— Kingsley U.N. Chikwendu —

A Coordinating Committee on recovery of outstanding ground rents amounting to N29, 506,643,943.98 has been inaugurated by the Federal Capital Territory Administration (FCTA). These are debts owed the FCTA by property owners in Abuja, the nation’s capital.

This was made known by the FCT Permanent Secretary, Mr. Adesola Olusade.

Olusade said that since inception of the present Administration, improvement in revenue generation has been an issue of utmost importance. 

Adesola Olusade.

While admitting that funding is key in the running of government, provision of infrastructure as well as delivery of quality services to the residents of the Territory, Olusade explained further that funding of FCTA activities is being hampered due to paucity of funds, which is necessary for the running of a modern capital city such as Abuja. 

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

He further added that the FCT Administration had migrated all revenue collections to Treasury Single Account (TSA) via REMITA Platform, to boost revenue generation in compliance with the Federal Government directive. 

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

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