Land Use Charge: LSG gives Clarity at a stakeholder meeting

 ...reassures Lagosians on easy assessment of charges

The Lagos State Government today, Thursday, March 9, 2018, further clarified the rates for the newly reviewed Land Use Charge Law of 2018 noting that payers can compute the amount of charges payable on their respective properties themselves.

Speaking at a stakeholders' forum organized by the Lagos Chamber of Commerce and Industry, LCCI, the State's Commissioner for Finance, Mr. Akinyemi Ashade said the Land Use Charge law is aimed at entrenching a regime of self-assessment, which would allow property owners to make their own calculation and know their rate with the help of professional valuers.

 "The Land Use Charge law institutes the regime of self-assessment. The intent of the reviewed Law is for Lagosians to be able to compute the amount payable on their respective property by themselves."

"You don't have to wait for demand notices before your pay your charges, you can calculate it yourself, engage us, you can make your payments voluntarily.  Do it yourself, let's dialogue and let's get the basis right."

The Commissioner further gives examples under three categories recognized by the law. First of which is that, "If you are a landlord and you are the only one living in your house with your family (No tenant), your annual fee is 60% of the value of the house × 0.076%.""For instance, if your house is valued at N20million, your fee is 0.076% of (60% of N20m) = 0.076% x N12m = N9,120.00 per annum"

"Secondly, If you are a landlord living with your tenant in the same building value of N20million, you will pay 0.256% of (60% of N20m) =0.256% × N12m= N30,720.00 per annum."

"Thirdly, If you rented out the house to tenants only and you don't live there and the house is worth N20million, you will pay 0.76% of (60% of N20m) = 0.76% of N12m = N91,200.00 per annum."

"The Law does not tax the market value of properties. It gives a general discount rate of 40% to all property owners in the state. The Land Use Charge Law is holistic and fair to everybody. It is quite discriminatory. It is not one cap, fit all. Market value of properties in Ikorodu and Ikoyi can never be calculated as the same."

According to one of the participants at the stakeholders' meeting,Mr.Shadrack Bayowa,The Managing Director,Hinges Constructiona and Properties Limited,the meeting has cleared the grey areas on the formulae used in assesing the Land Use charge as well as whose shoulder lies the responsibility of valuation.He could not hold back his impression of Mr.Ashade who he described as a thoroughbred professional and a brilliant public officer who was calm and,patiently answer questions inspite of the initial hostile dispositions of some participants."I am more comfortable now with the new law as it is reasonable and progressive", he concluded.

In his own remarks, the President of the Lagos Chamber of Commerce and Industry, Mr Babatunde Ruwase noted that one of the key tenets of democracy is inclusiveness, participation and dialogue. He commended the Lagos state government for being receptive to dialogue.

"As business community, we appreciate what the state government has been doing, especially the investment in infrastructure and security. We are therefore willing and ready to pay our taxes. Indeed, over 90% of the current IGR of over N300bn generated in the state is coming from the private sector. We appreciate the need to even do more."

Ado Ekiti In Frenzy As Ojudu Declares

It was a mammoth crowd of All Progressives Congress, APC, stalwarts, members, loyalists and lovers of Senator Babafemi Ojudu, SBO, who trooped out in Ado, capital city of Ekiti State, to sheer and nudge him to victory as he stormed Okeyinmi Street to declare his intention to run as the next governor of the state this morning.

Vehicular movement swelled and indigenes trooped out in numbers to show solidarity for the only son of the soil in the race for the Oke Ayaba plum office which none of their own has occupied since the state was created on October 1, 1996.
Business activities suffered a little hitch as many small business entrepreneurs close down shops while a chunk of the popular motorbike riders (Okada) abandoned commercial service to provide complimentary glamour to the colorful event with a theatrical riding display.

Traffic snarl ruled the day as the only route allowed for passage by the seating governor could not accommodate the massive movement of participants who came in from different parts of the state.
Earlier, the governor, Ayodele Fayose had ordered the dismantling of the campaign posters, standing banners, and billboards of Ojudu that adorned the streets of Ado Ekiti but for the swift intervention of loyalists who mounted resistance.

The journalist turned politician entered into the receiving hands of party faithful who were being treated to good melodious music coming from popular Fuji musician, Saheed Osupa. Ojudu immediately dissolved into the fanfare with sweat provoking dance steps.

“I am here to liberate my people. I am here to take Ekiti to the Promised Land. I am learned. I will not watch and see my people perpetually being humiliated by those who have no plan for us. I am here to set our people free and then restore our economy. Today I declare my intention to run as the governor of this State. Today, I enjoin all of you to come with me and let us rescue our state from the claws of our oppressors.

“We shall not waver, we shall not surrender, we shall not rest until our today is bettered for a promising tomorrow. We shall all join hands in this struggle to save our state.”

The train later moved colorfully to the Ajilosun end of the town where the APC state secretariat is located to meet party leaders who received him before he made his declaration to contest.

The party leader were full of praises as they all eulogized Ojudu and commended him profusely for his past developmental activities in the state and the country in general.

Fraud: Folly Coker & Wife Diverted N3bn From Lagos’ Number Plate Agency -EFCC

A federal high court in Lagos on Monday froze the bank accounts of Lagos State Government Number Plate Production Authority (LSGNPPA) over an alleged fraud of N3 billion.
Justice Mohammed Idris gave the order following an ex parte application by the Economic and Financial Crimes Commission (EFCC).
Idris said the account would remain frozen pending the conclusion of EFCC’s investigation into the alleged N3 billion fraud.
The order affected 32 bank accounts of companies which were allegedly used to divert the N3 billion from LSGNPPA.
In an affidavit attached to the application, the EFCC said its preliminary investigation revealed that the funds were diverted when Folorunsho Coker, was the managing director. He is now the director general of Nigerian Tourism Development Corporation (NTDC).
The companies whose accounts were also frozen include a law firm, Rimi and Partners. The EFCC said Coker’s wife, Aisha Rimi, was the sole proprietor.
Olamide Sadiq, the EFCC investigator, who deposed to an affidavit in support, said the probe into the alleged fraud was informed by an intelligence received sometime in 2017 by the Nigerian Financial Intelligence Unit.
Sadiq said there were suspicious transactions on the account of Rimi and Partners as there were “heavy inflows” in excess of N3 billion from LSGNPPA into the account.
Sadiq said investigations by EFCC revealed that Rimi and Partners had 10 bank accounts with Guaranty Trust Bank.
“Mr. Folorunsho Coker was as at that time the managing director of the 1st respondent — LSGNPPA,” he said.
“He was also the husband of Aisha Rimi, one of the signatories to the accounts of the 2nd and 3rd respondents — Rimi and Partners and Ekosina Investment Ltd respectively.
“Further to the depositions contained in the paragraph above, I know as a fact derived during my investigations, that the said Mr. Folorunsho Coker was also a signatory to the Bank account of the 1st respondent.
“Investigations revealed that Aisha Rimi is the major partner in Rimi and Partners and she is also in control of Ekosina Investment Ltd, a company seen to have received huge transfers from the LSGNPPA.
“From preliminary investigations by the commission, the 2nd and 3rd respondents were used to divert funds from the LSGNPPA with the influence of Folorunsho Coker, who was the Managing Director of the Lagos State Agency.”
Other companies whose accounts were frozen are Ekosina Investment Ltd, SW Properties Ltd, Imira Trade and Global Services Ltd, Lofty Investment Nigeria Ltd, Pure Technical Services Ltd and Cablepoint Ltd.

LAND USE CHARGE: OUTRAGEOUS AMOUNT IN CIRCULATION UNFOUNDED, BASED ON ARREARS - LASG

The Lagos State Government on Wednesday clarified the figures
circulating in the media on the rate for the newly reviewed Land Use
Charge Law of 2018, saying many of the numbers were based on several
years of arrears on the levy not paid by affected property owners.
Speaking at a news briefing held at the Bagauda Kaltho Press Centre i
n
Alausa, Ikeja, the State’s Commissioner for Information and Strategy,
Mr Kehinde Bamigbetan said there were so many misconceptions and
misinformation about the new law, adding that the law was a progressive
enactment duly made by the House of Assembly and handed over to the
Executive for implementation in the overall interest of the people.

He specifically dismissed the humongous figures being bandied about on
the social media, saying many of the calculations were based on arrears
of many years of non-payment.

“The fact is that this law took a long process to be made. It started
as a bill and went through the first reading, second reading, public
hearing to which all stakeholders were brought together to debate it and
some of the relieves we have seen were part of the debate expressed by
the stakeholders about the need to protect the vulnerable segment of the
society. Having made the law, the Lagos State House of Assembly has
handed it over to the executive to implement.“The second important part is that a lot of relieves have been built
into the law but many people are confusing arrears with the actual
figure. If you see those figures, ask whether it is for one year or
arrears of several years of non-payment. The humongous figures that are
being bandied around particularly in the social media relate to the
arrears of many years of non-payment which are computed together,”
Bamigbetan said.

Also speaking, Commissioner for Finance, Mr Akinyemi Ashade said the
government has extended the period for tax payers to enjoy the 15 per
cent discount in the reviewed Land Use Charge Law to April 14, 2018 in
order to enable the implementation and enforcement of the new law, as
well as allow many property owners to benefit from the discount.

Ashade, who took time to clarify reactions in some section of the public
on the new law, said under the old law, which had not been reviewed for
over 15 years since 2001, the Land Use Charge rate was totally
inaccurate and retrogressive and was depriving the State of keeping
track of all economic activities that relate to land in Lagos State.

He said the Law, which was reviewed by the Lagos State House of Assembly
and signed into Law by the State Governor, Mr. Akinwunmi Ambode on
February 8, 2018 is a merger of all Property and Land Based Rates and
Charges in the State.

Ashade said: “There was an urgent need for the repeal, as the old law
had not been reviewed for over 15 years, since 2001. Under the old law,
the LUC rate was totally inaccurate and retrogressive which deprived the
State of keeping track of all economic activities that relate to land in
Lagos State. “The new law is a consolidation of Ground Rent, Tenement Rate, and
Neighbourhood Improvement Levy. This charge is payable annually in
respect of all real estate properties in the State, which means owners
and occupiers holding a lease to a Property for ten (10) years or more
are now liable to pay the annual LUC invoice charged.

“Thus, the Tenement Rates Law, the Land Based Rates Law, the
Neighbourhood Improvement Charge and all other similar Property Rates or
Charges, Laws or amendments to any such property Laws shall cease to
apply to any property in Lagos State as from 2018.  Nonetheless, all
pending invoices, orders, rules, regulations, etc. under the 2001
repealed Law shall continue to be in effect until such obligations are
discharged.”

Explaining the calculation of amount payable, the Commissioner said that
property owners can determine the amount by multiplying the Market Value
of their property by the Applicable Relief Rate of 40 per cent and
Annual Charge rate.“Upon receiving a notice or not, the new law has made it possible for
owners to calculate their charge, and enable prompt payment, which
allows them to benefit from a 15% discount for early payment, applicable
to payments made within 15 days of receipt of Demand Notice,” he said.


Responding to fears of tenants that the new Law might force landlords to
increase rent, Ashade said aside the fact that the Lagos State Tenancy
Law 2011 was still in force, the incidence of payment for Land Use
Charge under the new law is on the Landlord and not the tenant.

He said the minimum rate was only increased from N1,200 it was in 2001
to N5,000, while there is provision for self-assessment and Assessment
Appeal Tribunal under the new law.

On vacant properties, Ashade said such would be treated based on
owner-occupier and not as a commercial property, explaining that the
target of government is to make commercial property owners to pay a
little bit more.

Land Use Charge: Payment is only 0.076% of the 60% of the value of a Property – Real Estate Professionals

 ...it is a more scientific and standardised payment

Following the announcement of the re-enacted Land Use Charge Law (LUCL) 2018 of Lagos State, the Coalition of Real Estate Investors and Surveyors in Lagos State has revealed that after its thorough analysis of the LUCL 2018, Owners-Occupiers are expected to pay a token percentage of 0.076% of the value of the assessed property.

Mr. Ayokunle Gregory, the convener of Coalition of Real Estate Investors and Surveyors in Lagos, made this revelation through a press statement after a closed-door meeting of the Coalition held in Lagos on Friday, March 2, 2018. While also expressing dismay at the level of misinformation circulating about the law among the unsuspecting public, Mr. Gregory further stated that some mischief-makers were bent on exploiting the new law for their selfish purpose by confusing the entire populace through dissemination of half-truth.

"And as such, we feel obliged to address the falsehood from a professional perspective before the unsuspecting public is misguided to bewilderment and violation of the law".

The newly implemented LUCL 2018 is a repeal of the Land Use Charge Law 2001 (the LUCL 2001) that lacked clarity on the formula used to derive an accurate rate. Also, under the old law, the LUC rate was totally inaccurate and retrogressive which deprived the state of keeping track of all economic activities that relate land in Lagos State.

According to the coalition, the reviewed LUCL 2018 is to put in place a regulated and standardised system that enables clarity and self-assessment. It was reviewed by the Lagos State House of Assembly and signed into Law by the Lagos State Governor, Mr. Akinwunmi Ambode on February 8, 2018. Property owners in the state have gone ahead to pay their LUC following the flag off by the Lagos State Governor on February 19, 2018.

The law is a consolidation of Ground Rent, Tenement Rate, and Neighbourhood Improvement Levy. Thus, the Tenement Rates Law, the Land Based Rates Law, the Neighbourhood Improvement Charge and all other similar Property Rates or Charges, Laws or amendments to any such property Laws shall cease to apply to any property in the State as from February 2018.

Nonetheless, all pending invoices, orders, rules, regulations, etc. under the 2001 repealed Law shall continue to be in effect until such obligations are discharged.
The LUCL is payable annually by owners and occupiers holding a lease to a property for 10 years or more. Using the applicable formula provided by the reviewed law, owners and occupiers can now calculate their rate by multiplying the Market Value (MV) of a property by the Applicable Relief Rate (RR) and Annual Charge Rate (CR).

Providing detailed breakdown on the law, Ayokunle Gregory said, "For Owner-occupied residential property, the LUC per annum is at 0.076%. For instance, if the Market Value of an owner-occupied property is at N15, 000,000.00 it means that that the amount payable is N6,840 per annum only which amounts to N570.00 per month. For a property occupied by tenants, used for commercial purposes, at the same Market Value of N15, 000,000.00, the LUC rate of that property will be N68, 400 per annum".
It was made known that the state government has made available some reliefs applicable to the entire property owners and also some specific owners according to their status."These include a general 40% relief for all property liable to LUC payment, a 10% relief for owners and occupiers with persons with disabilities, a 10% relief for owners and occupiers of 70 years and above, a 10% relief for properties above 25 years, a 5% relief for properties occupied by their owners for over 12 years, a 20 % relief for non-revenue generating federal and state government property, and 20% partial relief for non-profit making organisations", he disclosed.

In addition, some properties are exempted from the LUC payment, such as properties used for public and religious activities, properties used as registered educational institutes and charitable activities, properties occupied and owned by pensioners of 60 years and above, public cemeteries and burial ground and all palaces of recognised Obas and Chiefs in the State.

According to the press statement, the state has provided professional services of registered Estate Surveyors and Values to get accurate data which will help in assessment and valuation of properties in the state.

"In order to clear the air of any misinformation, we implore all owners and occupiers of properties in Lagos to do a self-assessment using the formula provided, and also provide officials with valid documents to ensure a smooth run of the exercise for the benefits of all", the coalition concluded.

Turkey 49th Birthday Bash: Fathia Balogun In Debt Scandal

  ....Lagos Fashion Designer  Accuses Fathia  of   Debt Allegation

 Nollywood actress, Fathia Balogun, is presently enmeshed in debt scandal   that is not palatable at this time as she just returned from Istanbul in  Turkey where she was recently hosted for her 49th birthday.

Bimbo Tella, owner of V3 Fashion House located in Badore, Ajah, Lagos  is threatening fire and brimestone to take the  mother of three  to the cleaners if she refused to pay up for her  service.

According to the Information Bimbo made available  exclusive to Asa News Online , she said prior to her 49th birthday, Fathia had contracted her to sew  latest fashion atires of different sizes running into 70 thousand Naira.

 Fathia, after receiving the clothes, she  traveled to Turkey for her birthday and on her return to Nigeria,she has been playing pranks with the payment for a service rendered.

The mullato actress started her hatched plot  with excuses that she lost her ATM card, she later said she wanted sorted out her children's school fees to internet banking problems.

All these went on for several weeks before it lasted and the fashion designer  decided to take the bull by the horn to recover her money.

Bimbo her in her words said: "I regret working for Fathia because of the altitude she has since  put up.
 " I have made several calls to her line, at times, she hangs the phone on me  whenever she knows I'm on the phone and text messages sent to her  were yet to be replied".

"A business needs working capital to stay afloat and if business are not been financed promptly, it may run into shambles because salaries and other bills has to be paid",Bimbo stated. 


Bimbo while narrating her grievances further said such  behavior lately is becoming rampant  in the movie industry as some of  these so called actors try catching  on fame to obtain services and goods without payment.

However, to balance our story, Happenings Media, put a call to Fathia on her  MTN line: 08030791117, to confirm the veracity of the whole episode and to possible get her reaction but as at the time of filling this report she is yet to return our calls and text message sent was   yet to be replied.

Exictment As Emerald Wins Edidot School Inter House Competition

Emerald House at the weekend garnered 18 medals to win Edidot School, Lagos annual inter-house competition, which took place on the school’s Sports Complex, Healing Campgrounds  Awoyaya, Ajah, Lagos Island.

The competition, watched by old students of the school, parents  and dignitaries from across the country, as well as students from other  private schools, government colleges, featured track and field events,  scrabble, cricket and table tennis. 

 Four houses namely: Emerald, Ruby, Sapphire and Burgundy were involved in the various categories of the competitions while 15 schools participated in the invitational Relay Races. Activities carried out includes lighting of Torch, Match Past, Calisthenics display, Students Race, Staff Race, Parents Race, Invitational Relay and Soccer.

Other activities carried out during heat were Sack Race, Cycling, Lime and Spoon Race, Tug of War,Bursting of Ballons, Picking the Balls, and Treasure Hunt.

Emerald house emerged the winners; Sapphire, Ruby and Burgundy houses came second, third and fourth positions respectively. In her speech, the Propietress  of the school, Rev. Edith Okubanjo emphasised the essence of inter-house sports, saying it is a means of assessing the psychomotor domain of education.

 

She highlighted that sport is part of the developmental process of a child since it goes beyond entertainment but a viable economic tool. “Exercise has been identified as a therapy for many ailments that torment mankind. Social, economic and health values of sports have been expressed through the annual Edidot School  inter-house sports.

The school has produced the second best student in sport since inception of our inter house sport I hereby encourage parents and guardians to support their kids in choosing and participating in any sporting activity,” she said.