Federal Housing Authority warns against fake Festac land offers, confirms exclusive allocation rights 

The warning follows a purported offer letter from New Festac Property Development Company Ltd., demanding N49,151,645 for a residential plot and claiming a partnership with the FHA to issue title documents.

This announcement was made in a statement released by FHA management on Wednesday, where the authority denied any involvement in the offer, reiterating that it alone has the authority to allocate land in Festac, backed by a global Certificate of Occupancy from the Federal Government.

“The attention of the Management of Federal Housing Authority has been drawn to a provisional Offer Letter for the sale of a plot of land at New Festac Town Phase II District, Lagos, on the New Festac Property Development Company Ltd signed by one Simon Egodigwe, for the company’s Managing Director. The said provisional Offer letter is demanding for the sum of forty nine million, one hundred and fifty one thousand, six hundred and forty five Naira, for a residential plot measuring 651.178 square meters, to be made in favour of New Festac Property Development Company Ltd, into a Wema bank account,” the statement read in part.

It added, “For the records, Federal Housing Authority is the owner of the entire land in Festac Town, Lagos, for which it was issued a global Certificate of Occupancy by the Federal Government. This makes FHA the only authority that can issue a letter of allocation on any land in Festac Town.” 

The FHA further emphasized that any legitimate land allocation in Festac would be formally issued and signed by the FHA’s Managing Director and Chief Executive.

The statement further clarified that while the Federal Housing Authority (FHA) entered into a partnership with New Festac Property Development Company Ltd. for the development of part of Festac Phase II, the project has not been finalized. Currently, only sand filling is ongoing at the site, with no formal agreements in place between the FHA and the company.

The FHA also reminded the public that it is the sole authority for issuing land allocation letters in its estates, with all such letters signed by its Managing Director and Chief Executive.