Access Bank Cleared Off Ground Rent Debt, Branch Remains Open For Business

A branch of Access Bank located in Zone 6, Wuse, Abuja, which was reportedly sealed on 26th May, 2025, during a large-scale enforcement operation by the Federal Capital Territory Administration (FCTA), over the non-payment of ground rent, has been confirmed not to be owing FCTA.

The sealing was part of a sweeping enforcement action that targeted 4,794 properties across the Federal Capital Territory and were revoked for non-payment of ground rent, some with arrears spanning between 10 and 43 years.

Although the building that housed the Access Bank branch was affected during the exercise, sources within the FCTA have clarified that the bank itself is not the owner of the property.

Therefore, official records indicated that the property is allocated to Rana Tahir Furniture Nigeria Limited, and not directly to Access Bank.

“Access Bank has fulfilled its obligations and is not indebted to the FCTA,” a senior source within the administration disclosed. “The branch in Wuse is open and operating normally.”

The mass enforcement followed a directive by President Bola Ahmed Tinubu, GCFR, who intervened in the matter by granting a 14-day grace period to affected property owners to pay their outstanding ground rents along with accrued penalties.

This action is seen as part of a broader strategy to recover funds owed to the government and enforce compliance with land regulations.

Chijioke Nwankwoeze, Director of Land Administration in the FCT, outlined the penalties associated with defaulting properties. According to him, fines range from ₦5 million in the Central Area, ₦3 million in Maitama, Asokoro, Wuse II, and Guzape, and ₦2 million in Wuse I, Garki I, and Garki II, in addition to the owed rents.

Recall that the FCT Minister, Barr. Nyesom Wike reinforced the directive by issuing a two-week deadline for all Right of Occupancy (R-of-O) and Certificate of Occupancy (C-of-O) holders to settle their dues or face revocation of their land titles.

The temporary sealing of the Access Bank branch sparked reactions online, with many assuming the bank was among the defaulters.

However, the clarification provided by the FCTA has laid such speculations to rest, confirming that Access Bank remains compliant and fully operational.