Everyone having a C-of-O in Abuja, the capital city of the country, is required to recertify their document to incorporate the newly suggested features, according to Federal Capital Territory (FCT) Minister Nyesom Wike.

In a Friday press conference, Wike said that he had stopped signing C-of-Os in his capacity as the minister of the Federal Capital Territory in order to guarantee the implementation of a security measure, namely the creation of NIN (individual) and BVN (corporate body).

In response to inquiries concerning those holding a C-of-O for their real estate, Wike stated that worried parties would only have to pay a certain sum to have their document recertified.

He said, “For everyone who has a C-of-O, they will come for a re-certification so that we can incorporate the NIN or BVN. They don’t need to pay money again; the highest an individual will pay is N50,000, and corporate bodies will pay N100,000. It helps in terms of security; it also helps to improve our revenue generation.

“There are people who own seven properties, so this will identify them so they can pay taxes.”

He clarified that the annual ground rent and the proposed N5 million for C-of-O are not the same.

His words: “The task force proposed N5 million, and the stakeholders said let it be reduced. They asked, ‘If it’s going to be on properties 4-bedroom or 5-bedroom?’, again, you have to understand that the C-of-O is not based on the building but the land. The only difference is the annual ground rent.

“The one with a 2-bedroom property cannot pay the same as the person with a 3-bedroom property,” he added.