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"Lagos land regularisation will ensure legal title"

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AMID concerns among the citizens on the land regularisation exercise, the state authorities have clarified that the programme is not aimed at confiscation of properties that do not have valid title as it being speculated, but rather to ensure that all properties falling within uncommitted government acquisition are properly documented and granted legal title.

The Permanent Secretary, State Lands Bureau, Mr. Hakeem Muri-Okunola, last week said the exercise is also to simplify and accelerate the process of regularisation of land titles by the grant of Certificate of Occupancy (C of O), in circumstances where un-committed government land has been encroached and thereby give economic value to the dead assets.

According to a statement signed by the Director, Information and Publicity in Land Bureau, Alhaji Moshood Adebisithe scheme, will facilitate the grant of approvals for building plan in conjunction with the Ministry of Physical Planning and Urban Development for properties falling within such category.

While advising members of the public to disregard the information, Muri-Okunola, emphasised that "the regularisation exercise affords those that inadvertently purchased government acquired land the opportunity to regularise their titles and thereby obtain Certificate of Occupancy," he said, noting that the benefits of obtaining legal title through regularisation include, the applicant being recognised by law as the legitimate owner of the property.

The exercise, he said, would also offer the applicant, the ability to obtain bank loans to transact business using the title as collateral for mortgage facilities.

"Other benefits accruing to the applicants will include among other things, the ability to legally sell and dispose of the property seamlessly and also to obtain compensation from the government in the event that the land is ever revoked or acquired for public purpose," concluding that the exercise would afford the applicant the peace of mind from the harassment from social miscreants called Omo Oniles, as well as, land speculators.

Last modified on Wednesday, 15 February 2012 04:43
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