The Coordinating Committee on the Recovery of Outstanding Ground Rents of N29,506,643,943 owed the FCT Administration has commenced work.
In a statement on Wednesday, the FCTA warned that property owners who failed to pay risk prosecution, revocation, or outright forfeiture.
Muhammad Hazat Sule, Director of Information, said the recovery committee was set up after several appeals and notices served.
The FCT Permanent Secretary, Adesola Olusade recently inaugurated the team with the mandate to recover outstanding debts.
The committee is expected to formally start communicating to the affected persons and corporate bodies from Friday, July 1.
“Those who failed to comply by paying their outstanding debt would be prosecuted”, Sule hinted.
The official said the FCTA adopted strict measures due to the non-compliant by the affected individuals and organizations.
“The Recovery Committee has already swung into action and perfected modalities towards achieving this onerous task.
“The government needs resources to execute essential infrastructural projects in the Federal Capital Territory”, the statement reads.
The FCTA further warned debtors of dire consequences should they allow the committee to fully execute its mandate.