Abuja property mogul raises alarm over FCTA’s MoU with developers

Abuja property mogul raises alarm over FCTA’s MoU with developers

By: Michael Mike

Managing Director, Abuja Technology Village Free Zone Company Limited, Yohana Dyelkop has raised an alarm over a Memorandum of Understanding (MoU) purportedly signed by the Federal Capital Territory Administration (FCTA) and some property developers.

The businessman, who expressed this concern at a news conference on Saturday in Abuja, said he was worried by media reports about the said land development MoU.

He said media reports recently indicated that the Ministry of the Federal Capital Territory had sealed an agreement with some local and foreign investors to develop 200 hectares of land in the Abuja Technology Village.

According to him, the reports specifically allege that the MoU has purportedly been signed between FCTA and two organisations, Mag International Links Limited and the National Agency for Science and Technology (NASENI).

Dyelkop said that government’s genuine efforts to attract foreign investment, especially property developers, was commendable but it was expedient to clarify that Abuja Technology Village has numerous plots across various districts.

He warned that his properties: Plots 22 and 23, C17 Industrial Area 2, Pyakasa Village, Airport Road, are located within the area earmarked for the allocation.

“Unless the MoU explicitly excludes these plots, any agreement covering them would be unlawful,” he stressed.

Dyelkop warned that the prospective developers should steer clear of his land as they are subjects of ongoing litigation, adding that cases of land grabbing and encroachment were rampant in the FCT.

According to him, his company has officially written to the parties involved expressing its concern about the MoU, warning them and the prospective investors to steer clear of his properties and avoid possible contempt of court.

“We are concerned about news reports regarding an MoU between the entities and the Federal Capital Territory Administration (FCTA) for the purpose of land development.

“Specifically, Plots 22 and 23, C17 Industrial Area 2, Pyakasa Village, Airport Road, are subject to ongoing litigation, with the Hon. Minister as a defendant.

“All parties have been served with a court order, and unless the MoU explicitly excludes these plots, any agreement covering them would be unlawful,” he added.

The real estate mogul, who is also the National Chairman of a political group, “Better Opportunities With Tinubu (BOWT) 2027, called for caution and respect for the rule of law to avoid denting President Bola Tinubu’s image.

Abuja property mogul raises alarm over FCTA’s MoU with developers