Nyesome Wike Unveils New C of O for Millions of Naira

Sholape IrepodunNovember 29, 20231 Mins read251

Abuja, Nigeria’s beautiful federal capital, is currently in pandemonium due to Nyesome Wike, FCT Minister’s new decrees. Not only has the minister refused to sign Certificates of Ownership for newly acquired land, he has introduced what he has called “enhanced security measures” that would apply to both new and existing land owners. These enhanced security measures include the National Identification Number (NIN) for individuals and the Bank Verification Number (BVN) for corporate organizations.

In his press briefing, Wike told journalists that the policy was drafted to curb the issues of discrepancies in land property documentation and the cloning of C of Os that has been happening for years. Existing landowners would be required to pay a nominal fee for recertification, about 50,000 naira for individuals, while corporate bodies would pay 100,000 naira. They would also be paying annual property taxes going forward. New landowners would, however, be paying as much as 5 million naira for their Cof O, regardless of the type of location, structure and size of the land.

Simultaneously, another policy was unveiled by the Permanent Secretary of the Ministry of Transportation in Lagos State, Engr Abudulhafiz Toriola. He told members of the Press that all vehicles will now be required to have a Proof of Ownership Certificate. He said this will come into force in Lagos State as well as other states of the federation in July 2024. The new certificate will contain all vital information about the vehicle and its owner and will be renewed annually at 1000 naira.

Both policies were lauded by government officials who unveiled them and described them as necessary for security reasons as well as a means of revenue generation for the government.

Nigerians have, however, expressed scepticism about these developments, particularly as they came on the heels of whistleblowers exposing government wastage at enormous proportions. They are concerned that a government that has not been accountable for public funds and even misappropriates funds is asking for more, and several persons are even asking what moral right such a government have to demand more resources through taxes. Their sound logic rests on the fact that “No sane person continues to put money in a pocket that has been found to leak”.

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