Abuja Property Mogul Raises Alarm Over FCTA’s MoU With Developers

Yohana Dyelkop, Managing Director of Abuja Technology Village Free Zone Company Limited, has voiced concerns regarding a Memorandum of Understanding (MoU) purportedly signed by the Federal Capital Territory Administration (FCTA) with certain property developers.

The businessman, at a news conference held in Abuja on Saturday, expressed his apprehension about media reports concerning the aforementioned land development MoU.

He stated that recent media reports indicated the Ministry of the Federal Capital Territory had reached an agreement with both local and foreign investors to develop 200 hectares of land within the Abuja Technology Village.

According to Dyelkop, the reports specifically allege that the MoU was purportedly signed between the FCTA and two organisations: Mag International Links Limited and the National Agency for Science and Technology (NASENI).

While acknowledging the government’s commendable efforts to attract foreign investment, particularly in property development, Dyelkop emphasised the need to clarify that Abuja Technology Village encompasses numerous plots across various districts.

He specifically warned that his properties – Plots 22 and 23, C17 Industrial Area 2, Pyakasa Village, Airport Road – are located within the area earmarked for allocation.

“Unless the MoU explicitly excludes these plots, any agreement covering them would be unlawful,” he asserted.

Dyelkop cautioned prospective developers to stay away from his land, as they are currently subject to ongoing litigation. He further noted that land grabbing and encroachment are prevalent issues in the FCT.

He stated that his company has formally written to the parties involved, expressing its concerns about the MoU and warning them and prospective investors to avoid encroaching upon his properties and potentially being held in contempt of court.

“We are concerned about news reports regarding an MoU between these entities and the Federal Capital Territory Administration (FCTA) for the purpose of land development.

“Specifically, Plots 22 and 23, C17 Industrial Area 2, Pyakasa Village, Airport Road, are subject to ongoing litigation, with the Honorable Minister as a defendant.

“All parties have been served with a court order, and unless the MoU explicitly excludes these plots, any agreement encompassing them would be unlawful,” he reiterated.

The real estate mogul, who is also the National Chairman of the political group “Better Opportunities With Tinubu (BOWT) 2027,” urged caution and adherence to the rule of law to avoid tarnishing President Bola Tinubu’s image.