Business
THE SIX TYPES OF CERTIFICATES OF OCCUPANCY YOU SHOULD KNOW ABOUT BY DENNIS ISONG
THE SIX TYPES OF CERTIFICATES OF OCCUPANCY YOU SHOULD KNOW ABOUT BY DENNIS ISONG
Sahara Weekly Reports That There’s so much wrong information out there. Beware! Don’t just believe everything. Not everything you see out there is correct. The fact is this, there are different types of occupancy but people know only one type which is the one that last for 99 years.
A Certificate of Occupancy is a certificate given to a land that shows that you are the rightful owner of that land.
DIFFERENT TYPES OF CERTIFICATES OF OCCUPANCY
Let me first make reference to the most popular one which we know.
- RESIDENTIAL CERTIFICATE OF OCCUPANCY
This particular one is the one you have when you buy a land. You can actually use this certificate to obtain a loan. It can last for the time frame of 99 years and you can do it in your name which is unique. It is also known as Individual Certificate of Occupancy.
Certificates of Occupancy have different categories which depend on the individual or organization.
- AGRICULTURAL CERTIFICATE OF OCCUPANCY
This is for those that want to go into farming. These people intend to use their land just for farming.
For example, in Ikorodu, most lands in Epe are zoned under Agric zone. So, even though the land has what we call Free Hold, however, when you check it, it falls under Agric zone. If you want to process that in the future, it can be changed to residential. But for now, most land in Ikorodu falls under the Agric zone. The tenure for Agric Certificate of Occupancy is 25 to 28 years.
- INDUSTRIAL CERTIFICATE OF OCCUPANCY
This type is given to industry, for example, Dangote. The kind of certificate Dangote has in Ibeju-Lekki Lagos is Industrial Certificate of Occupancy. And if you observe, for you to get this kind of Certificate of Occupancy, the place where you get your land will be in extreme part of the state where we have less population in order to restrict pollution.
The kind of Certificate of Occupancy that will be given to you in that area, will be Industrial certificate of occupancy. It can be given to a company, not an individual. The tenure is 35 years.
- FAMILY CERTIFICATE OF OCCUPANCY
If you are familiar with Lagos terrain, you would notice that there are some families that have certificates of occupancy in their name- Family certificate of occupancy.
This doesn’t have a tenure. Before a family can have that Certificate of Occupancy, it means the government gave them based on their reputation
- GOVERNMENT ALLOCATION
If you pay attention, you would have come across lands that have government allocation. Each government allocation will always lead to C of O. That is also a type of C of O because each will lead to C of O.
Allocation can be given to a company, or to ministry, a reputable person, or foreign investors. If you come into the country to invest, the government can allocate land to you instead of buying from individuals.
- EXCISION
Excision is a type of Certificate of Occupancy given to a village.
It’s also a type of C of O. When a land has excision, you cannot have two types of Certificates of Occupancy on that land.
The next type of title you can process for that land is the Governor’s consent. But before you can process the Governor’s Consent, the land has to be gazetted.
WHAT IS A GAZETTE?
A gazette is the legal newspaper of a country or a state , which publishes the text of new laws, treaties,regulations,court decisions,legal notices and decrees.
When an excision land is published, it is what we call gazetted Land . It is after that you can upgrade it to a Governor’s consent, not a C of O.
Excision is a type of C of O given to a village, i.e., can ONLY be given to a village.
In summary, for residential C Of O , it can be given to an individual or Company. Agricultural C of O can also be given to an individual or a company. Industrial is given to a company. Family Certificate of Occupancy is given to a family only if the family is reputable. Government allocation can be given to an investor, a company or an individual depending on a purpose. You can appeal to the government for this. Excision can never be given to an individual but a village. When you buy a land with excision, the first thing to do is, that land is gazzetted, then you proceed to make it have what we call Governor’s consent. Excision on its own is a valid title by the government which is also a certificate of occupancy that doesn’t have a tenure. You can go ahead and process that certificate of occupancy to the Governor’s consent.
Dennis Isong Helps Nigerians in Diaspora to Own Property In Lagos Nigeria STRESS-FREE. For Questions WhatsApp/Call 2348164741041
Nigeria’s Inflation Drops to 15.10% as NBS Reports Deflationary Trend
Nigeria’s headline inflation rate declined to 15.10 per cent in January 2026, marking a significant drop from 27.61 per cent recorded in January 2025, according to the latest Consumer Price Index (CPI) report released by the National Bureau of Statistics.
The report also showed that month-on-month inflation recorded a deflationary trend of –2.88 per cent, representing a 3.42 percentage-point decrease compared to December 2025. Analysts say the development signals easing price pressures across key sectors of the economy.
Food inflation stood at 8.89 per cent year-on-year, down from 29.63 per cent in January 2025. On a month-on-month basis, food prices declined by 6.02 per cent, reflecting lower costs in several staple commodities.
The data suggests a sustained downward trajectory in inflation over the past 12 months, pointing to improving macroeconomic stability.
The administration of President Bola Ahmed Tinubu has consistently attributed recent economic adjustments to ongoing fiscal and monetary reforms aimed at stabilising prices, boosting agricultural output, and strengthening domestic supply chains.
Economic analysts note that while the latest figures indicate progress, sustaining the downward trend will depend on continued policy discipline, exchange rate stability, and improvements in food production and distribution.
The January report provides one of the clearest indications yet that inflationary pressures, which surged in early 2025, may be moderating.
Nigeria’s headline inflation rate declined to 15.10 per cent in January 2026, marking a significant drop from 27.61 per cent recorded in January 2025, according to the latest Consumer Price Index (CPI) report released by the National Bureau of Statistics.
The report also showed that month-on-month inflation recorded a deflationary trend of –2.88 per cent, representing a 3.42 percentage-point decrease compared to December 2025. Analysts say the development signals easing price pressures across key sectors of the economy.
Food inflation stood at 8.89 per cent year-on-year, down from 29.63 per cent in January 2025. On a month-on-month basis, food prices declined by 6.02 per cent, reflecting lower costs in several staple commodities.
The data suggests a sustained downward trajectory in inflation over the past 12 months, pointing to improving macroeconomic stability.
The administration of President Bola Ahmed Tinubu has consistently attributed recent economic adjustments to ongoing fiscal and monetary reforms aimed at stabilising prices, boosting agricultural output, and strengthening domestic supply chains.
Economic analysts note that while the latest figures indicate progress, sustaining the downward trend will depend on continued policy discipline, exchange rate stability, and improvements in food production and distribution.
The January report provides one of the clearest indications yet that inflationary pressures, which surged in early 2025, may be moderating.
Alpha Morgan to Host 19th Economic Review Webinar
In an economy shaped by constant shifts, the edge often belongs to those with the right information.
On Wednesday, February 25, 2026, Alpha Morgan Bank will host the 19th edition of its Economic Review Webinar, a high-level thought leadership session designed to equip businesses, investors, and individuals with timely financial and economic insight.
The session, which will hold live on Zoom at 10:00am WAT and will feature economist Bismarck Rewane, who will examine the key signals influencing Nigeria’s economic direction in 2026, including policy trends, market movements, and global developments shaping the local landscape.
With a consistent track record of delivering clarity in uncertain times, the Alpha Morgan Economic Review continues to provide practical context for decision-making in a dynamic environment.
Registration for the 19th Alpha Morgan Economic Review is free and can be completed via https://bit.ly/registeramerseries19
It is a bi-monthly platform that is open to the public and is held virtually.
Visit www.alphamorganbank to know more.
GTBank Launches Quick Airtime Loan at 2.95%
Guaranty Trust Bank Ltd (GTBank), the flagship banking franchise of GTCO Plc, Africa’s leading financial services group, today announced the launch of Quick Airtime Loan, an innovative digital solution that gives customers instant access to airtime when they run out of call credit and have limited funds in their bank accounts, ensuring customers can stay connected when it matters most.
In today’s always-on world, running out of airtime is more than a minor inconvenience. It can mean missed opportunities, disrupted plans, and lost connections, often at the very moment when funds are tight, and options are limited. Quick Airtime Loan was created to solve this problem, offering customers instant access to airtime on credit, directly from their bank. With Quick Airtime Loan, eligible GTBank customers can access from ₦100 and up to ₦10,000 by dialing *737*90#. Available across all major mobile networks in Nigeria, the service will soon expand to include data loans, further strengthening its proposition as a reliable on-demand platform.
For years, the airtime credit market has been dominated by Telcos, where charges for this service are at 15%. GTBank is now changing the narrative by offering a customer-centric, bank-led digital alternative priced at 2.95%. Built on transparency, convenience and affordability, Quick Airtime Loan has the potential to broaden access to airtime, deliver meaningful cost savings for millions of Nigerians, and redefine how financial services show up in everyday life, not just in banking moments.
Commenting on the product launch, Miriam Olusanya, Managing Director of Guaranty Trust Bank Ltd, said: “Quick Airtime Loan reflects GTBank’s continued focus on delivering digital solutions that are relevant, accessible, and built around real customer needs. The solution underscores the power of a connected financial ecosystem, combining GTBank’s digital reach and lending expertise with the capabilities of HabariPay to deliver a smooth, end-to-end experience. By leveraging unique strengths across the Group, we are able to accelerate innovation, strengthen execution, and deliver a more integrated customer experience across all our service channels.”
Importantly, Quick Airtime Loan highlights GTCO’s evolution as a fully diversified financial services group. Leveraging HabariPay’s Squad, the solution reinforces the Group’s ecosystem proposition by bringing together banking, payment technology, and digital channels to deliver intuitive, one-stop experiences for customers.
With this new product launch, Guaranty Trust Bank is extending its legacy of pioneering digital-first solutions that have redefined customer access to financial services across the industry, building on the proven strength of its widely adopted QuickCredit offering and the convenience of the Bank’s iconic *737# USSD Banking platform.
About Guaranty Trust Bank
Guaranty Trust Bank (GTBank) is the flagship banking franchise of GTCO Plc, a leading financial services group with a strong presence across Africa and the United Kingdom. The Bank is widely recognized for its leadership in digital banking, customer experience, and innovative financial solutions that deliver value to individuals, businesses, and communities.
About HabariPay
HabariPay is the payments fintech subsidiary of GTCO Plc, focused on enabling fast, secure, and accessible digital payments for individuals and businesses. By integrating payments and digital technology, HabariPay supports innovative services that make everyday financial interactions simpler and more seamless.
Enquiries:
GTCO
Group Corporate Communication
[email protected]
+234-1-2715227
www.gtcoplc.com
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