Buyers of seized properties to pay 2001 value
The Minister of Works and Housing, Babatunde Fashola on Wednesday while briefing State House Correspondents after the FEC meeting.
According to the Minister, FEC arrived at the decision following a memorandum he presented to the Council in which he disclosed that the government was short-paid in the transaction on the properties seized by officials of the National Drug Law Enforcement Agency (NDLEA).
Federal Government has ordered buyers of two underpriced public properties in Lagos to pay the differentials of the real values of the properties as of 2021.
Federal Executive Council (FEC) meeting presided over by President Muhammadu Buhari
According to Fashola, the properties, a four-bedroom bungalow on Adeniyi Jones and another five-bedroom duplex on Amadasun Street in GRA, Ikoyi, Lagos, which sold for N2 million and N5 million respectively were seized by the NDLEA in the course of narcotic prosecution.
He said the government wants the buyers to pay N18 million for the bungalow and N21 million for the five-bedroom duplex being the cost at which they were valued in 2001.
(Nation)
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