Though the property occupied by Access Bank is officially allocated to Rana Tahir Furniture Nigeria Limited, not the bank directly, the bank has paid its dues, and the Access Bank branch located in Zone 6, Wuse, Abuja, is open for business, according to a reliable source within the FCT Administration.
This development comes as President Bola Ahmed Tinubu, GCFR, intervened in the mass revocation, granting a 14-day grace period for affected property owners to settle their outstanding ground rents along with associated penalties.
According to Chijioke Nwankwoeze, Director of Land Administration, FCT, penalties range from N5 million in the Central Area, N3 million in Maitama, Asokoro, Wuse II, and Guzape, to N2 million in Wuse I, Garki I, and Garki II — all in addition to the owed rent.
Furthermore, the Minister of the FCT, Barrister Nyesom Wike, also granted a two-week window for all property holders to pay up their Right of Occupancy (R-of-O) or Certificate of Occupancy (C-of-O) charges or risk revocation of their titles.
The temporary sealing of the Access Bank branch sparked speculation across social media, with many assuming the bank was among the defaulters. However, findings indicate that the branch is not directly liable, as the property is registered under a third party. The bank remains open for business, and there is no indication that Access Bank is owing the FCTA. The clarification was provided by FCTA sources, who asked not to be named due to sensitivity around the matter.
