Lagos State Governor Akinwumi Ambode yesterday signed and approved the release of 2,500 Certificates of Occupancy (C of O) to property owners.
The Executive Secretary in the Lands Bureau, Mr. Olukayode Ogunnubi, said the development was in line with the governor’s effort to clear the backlog of C of O carried over from the last administration.
He said: “A distinction must be made that this government wants Lagosians to maximise the economic benefits derivable from ownership of property as evidenced by obtaining their legal titles.
“This is what we are trying to achieve and this is why the governor cleared the backlog. Now we do not have pending C of O on our table.”
Ogunnubi said the action would enable property owners to leverage on the C of O as collateral to obtain loans from financial institutions for business activities.
“This will also contribute to the growth of the state’s Gross Domestic Product (GDP) and the development of the economy,” he added.
The executive secretary said the governor intended to ensure that the process of applying and getting C of O was not only less cumbersome, but treated within the stipulated time.
He said: “Once we have any new applicant for C of O, the governor’s mandate is to ensure that he signs it within the 90 days tenure. Once you make your payment, we start the processing. Let me also report that we are going on the Electronic C of O fully (E-C of O). The ones he signed are E-C of O.
“In a nutshell, the idea is to eliminate bureaucratic bottlenecks. This is what the governor intends to achieve in line with his commitment to make life simple and easy for the people.
“This is a standard milestone, as the last time such was witnessed was during the era of the first civilian governor of Lagos State, Alhaji Lateef Jakande.”
Ogunnubi said the list of the 2,500 C of O’s would be published in the national newspapers from today.