The Management of Federal Housing Authority (FHA) has asked the general public particularly those in Festac Town, phase 11 District, Lagos, to disregard any land transactions between the New Festac Property Development Company Ltd, a concessionaire and any of its agents or representatives.

A statement tagged Federal Housing Authority, ?Caveat Emptor? released on Tuesday by the management of the Authority dismissed any land transactions or conciliation between Federal Housing Authority, FHA and New Festac Property Development Company Ltd.

The management stated that the offer letter been passed by New Festac Property Development Company Ltd and signed by one Simon Egodigwe for Managing Director of the company is fake and counterfeit.

The purported offer letter demanding for payment for a land of N49,151,645 for a land measuring 651.178 square meter was not endorsed by the management of FHA.

The said Offer of Provisional Letter, among other things, claimed that issuance of relevant papers will be carried out in due course by Federal Housing Authority, FHA and New Festac Property Development Company Ltd, as erroneous.

While describing the activities of New Festac Property Development Company Ltd as desperate, ill-timed and preposterous and not to the knowledge of Authority.

The statement further reads?

FEDERAL HOUSING AUTHORITY

CAVEAT EMPTOR

The attention of the Management of Federal Housing Authority, FHA has been drawn to a provisional Offer Letter for sale of 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, (49,151,645), 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 said Provisional Offer letter among other things claims that the Concessionaire (New Festac Property Development Company Ltd) and Federal Housing Authority, FHA shall issue the relevant title documents in due course.

Federal Housing Authority views this move by New Festac Property Development Company as most preposterous, ill timed and desperate.

For the records, Federal Housing Authority, FHA is the owner of the entire land in Festac Town, Lagos for which it was issued a global Certificate of Occupancy (Cof O), by the Federal Government.

This makes FHA the only Authority that can issue a letter of allocation on any land in Festac Town.

The Authority entered a partnership with New Festac Property Development Company Ltd for the development of part of Festac Phase II, which has not been consummated.

Apart from the sand filling of the site by New Festac Property Development Company Ltd, which is still on going, no other pre-project agreement has been reached between the company and FHA.

The Management of FHA therefore is wondering how New Festac Property Development Company Ltd independently arrived at the cost of land which they are asking members of the public to pay, when the total cost of the project is yet to be determined.

While Management of FHA cannot verify the authenticity of this purported Provisional Offer letter at its disposal, members of the public are hereby advised to disregard this offer.

The public is also through this medium informed that it is only Federal Housing Authority, FHA that solely issues letters of allocations, signed by its Managing Director and Chief Executive in any property in its estates

Those who have patronized or are intending to patronize this purported sale should be ware.

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