A Coalition of Real Estate Developers in the Federal Capital Territory has appealed to President Bola Tinubu and the leadership of the National Assembly to probe the Managing Director/CEO of the Federal Housing Authority (FHA), Oyetunde Ojo, over land activities
They made the call in a statement signed by the coalition’s coordinator, Mr Benjamin Yamusa, and publicity secretary, Nofisat Kareem.
The developers said they resorted to seeking the intervention of President Tinubu and the National Assembly because of “the huge financial loss we incurred and the mounting interests on the debts we got from the banks due to the deliberately slow administrative processes of the land development approvals regime being implemented by Mr Oyetunde Ojo at the FHA.”
They claimed Mr Ojo’s stint at the FHA has so far brought about financial loss, stagnation of dozens of multi-billion-naira projects.
They said most of the applications pending at the FHA were in their last stages of approval, “but only to be deliberately stalled.”
The developers said, “The encroachment of our legally acquired lands by some elements has stalled our progress, resulting in endless court cases, and mounting financial pressure due to the bank loans most of us secured for the development of the properties.”
The concerned developers said there are dozens of court cases ongoing at various High Courts in Abuja due to the alleged illegal encroachment and reallocation of most FHA-approved lands.
The petitioners sought President Tinubu’s intervention “to stop the brigandage at the FHA.
They said the constant harassment by security agents and the never-ending litigations have overstretched their finances, with some of them being threatened by their lenders over debts they incurred for the real estate development.
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