Wike’s Mass Approval C-of-Os To Boost Real Estate Investment In FCT – Odili

Minister of the Federal Capital Territory (FCT), Barrister Nyesom Wike, has been commended for signing over 1,000 Certificates of Occupancy (C-of-Os) to house owners in the sprawling River Park Estate, Abuja.

Mr Paul Odili, who now acquires full ownership of the estate, commended the minister’s magnanimity in signing so many C-of-Os for an estate at once.

He said the kind gesture of the FCT minister will go a long way in encouraging investment in real estate and build robust confidence in house owners.

Odili, alongside other dignitaries, handed over the certificates to lucky house owners on Saturday at a brief ceremony held during a meeting at the estate.

Lauding Wike, he said: “The honourable minister of the FCT, Barrister Nyesom Wike, has graciously signed over a thousand Certificates of Occupancy for beneficiaries on River Park Estate.

“I want to commend him and appreciate his noble gesture. He has helped us gain more confidence in investing in real estate in Nigeria, especially in Abuja.

“And I want to use this medium to thank the director of land in the Federal Capital Development Agency (FCDA).

“He has done marvellously well in ensuring the signing of these C-of-Os, and it has greatly helped our project on this estate.

“I also thank all staff of the FCDA secretariat, such as the Urban and Regional Department, Mapping and Survey Department, Estate Department, and most especially, the Land Department. My sincere gratitude goes to the administration of the FCT.”

On the issuance of the certificates, Odili said, “This meeting was called to give them their C-of-Os because they were given to us in trust for those who are beneficiaries.

“That is why we have to call the press to witness that it was delivered as was agreed by the FCT Administration that I, Paul Odili, the developer, should take it and give it to them because I am the one that allocated these properties to them and that is why I have to make sure all see,  that they were delivered as told.”

During the meeting, Odili informed the estate investors that he had fully acquired a 100 per cent stake in the business and owned the estate completely.

Speaking on the new ownership, Odili said: “Houses for Africa Holdings was owned by John Townley-Johnson, who has an 80 percent stake, and he became our international partner for the development of the estate.

“But now, he has sold all the shares owned by Houses for Africa to me. I, Paul Odili, am now 100 percent owner of the River Park Estate, Jonah Capital Limited, and Houses for Africa Nigeria.

“Adrian Ogun was the founder of Jonah Capital before Houses for Africa Holdings came to invest here.

“Now, both of them have relinquished their shares to me. Payment has been made, an agreement signed, and by January 30th, 2025, I will become the 100 per cent owner of River Park Estate.”

John Townley-Johnson confirmed the new ownership status: “We no longer have interest in Houses for Africa Nigeria, and we have now transferred our rights to Mr Paul Odili.

“We think it was the best thing to do because he is credible in the real estate developing sector.

“We have absolute confidence in him, Odili, to handle the business. His involvement shows that the houses will be completed to the standard he has set for the estate.”

Also, Mr Adrian Ogun confirmed the new ownership and expressed confidence in the new ownership.

He said he had come a long way as a business partner with Paul Odili and was sure that the estate was in good hands and that house owners would enjoy full services for their investments.

Some of the lucky house owners whose certificates of occupancy were issued praised Mr. Odili’s sincerity in dealing with investors on the estate.

Engr. Benjamin Ogwuche, president of KRPC Cooperative Society, Kaduna, said: “This is a dream come true. We have come a long way with Paulo Homes. We have over 100 properties here. I am delighted that our members own houses here. These C—of—Os issued to us today are proof of ownership.”

Mr Daniel Okoebor said he was very happy to receive the certificate. He said, “This shows that my investment is now secured. It shows that I have a title document and that my house is safe.”