To: Head of Estate ServicesFrom: Edmond E. Sunday (HEO)Date: 8TH October, 2014Subject: Survey Inspection and Valuation report on plot No.60 Cadastral Zone B09 Kado District, Abuja. With File No. MISC 51540

1Brief Head of Estate Services

2 Purpose Deed of Assignment

3 Date of Inspection 15th September, 2014

4 Property Location Plot No.60 Kado District, Abuja.

5 Brief Property Description Development on site comprises an office complex under Construction at first floor decking level.

6 Plot Size 5230.42sqm

7 Current Title Holder Alhaji Abubakar Mohammed

8 Prospective Holder Eighteenth Engineering Co. International Ltd.

9 Status of Title Held Certificate of Occupancy

10 Commencement date 17TH day of July, 1995

11 Unexpired term 80years

12 C of O Registration No 2187 at page 2187 in Volume 11

13 Infrastructure No water, road untarred, electricity available

14 Method of Valuation Replacement Cost (approved rates)

15 Assumption / Limitation a). Trueness correctness supplied information b). Good and marketablec). property unencumbered

DETAILED VALUATION COMPUTATION N K

Main Office A. 5m2 x 9m2 = 45 X 2(floor) =90m2

90m2 @N150,000 / m2 = 13,500,000.00

B. 8m2 x 20m2 = 160m2

1600m2 @N150,000 / m2 = 24,000,000.00 37,500,000.00

Less outstanding work, 70% of 37,500,000.00 = 11,250,000.00

Fence Area252.89mr @ N 5,000/m2 = 1,264,450.00

Value of Improvement = 12,514,450.00

Add Land ValueSize: 5,230.42m2 @ N20,000 /m2 = 104,608,400.00

Capital Value = 117,122,850.00 Say = 117,122,900.00

VALUATION OPINION:

Having regards to the location, neighborhood character, improvements on site as well as the appraisal process, the Valuer is of the opinion that the improvements on plot no 6, Abuja, commands a value in the region N117,122,900.00 ( One Hundred and Seventeen Million, One Hundred and Twenty-Two Thousand Nine Hundred Naria) only

Edmond E. SundayHigher Estate Officer

Director (Lands).

Please, at page 87 is an application from Alhaji Abubakar Mohammed, holder of Certificate of Occupancy No.18cfw-df5cz-6787r-d340u-20 with file No. Misc 51540 Covering Plot No.60 Cadastral Zone B09 Kado District, Abuja, seeking Honourable Minister’s consent to assign the unexhausted interest in the property in favour of Eighteenth Engineering Co. International Ltd.

2 The subject property had earlier exchange hands between the title holder, Dalice Property Development Company Limited and Alhaji Abubakar Mohammed by virtue of Power of Attorney, vide page 77 and abc.

3. Development on site Comprises an office complex under construction.

4. Adopting the approved rates for property Valuation within the Federal Capital Territory and a Land Value Rate of N20,000/m2 as applicable to the area, a Capital Value of N117,122,900.00 ( One Hundred and Seventeen Million, One Hundred and Twenty-Two Thousand Nine Hundred Naria) only was arrival at.

5. You may wish to request the Hon. Minister to consider and approve the application to assign plot No.60 Cadastral Zone B09 Kado District, Abuja , in favour of Eighteenth Engineering Co. International Ltd, subject to the payment of the following fees:-

a. Capital Gain Tax - N 5,856,145.00b. Stamp Duty - N 1,756,844.00c. Registration Fee - N 1,756,844.00d. Consent Fee - N 10,000.00e. Processing Fee - N 10,000.00

Total Fees Payable - N 9,389,832.00

Bassey E. NkangHead of Estate Services

To: Hon. Minister FCTThro: Permanent SecretaryFrom: Director Land AdministrationRef: MISC 51540SUBJECT: APPLICATION FOR CONSENT TO ASSIGN Date:

Please, at page 87 is an application from Alhaji Abubakar Mohammed, holder of Certificate of Occupancy No.18cfw-df5cz-6787r-d340u-20 with file No. Misc 51540 Covering Plot No.60 Cadastral Zone B09 Kado District, Abuja, seeking Honourable Minister’s consent to assign the unexhausted interest in the property in favour of Eighteenth Engineering Co. International Ltd.

2 The subject property had earlier exchange hands between the title holder, Dalice Property Development Company Limited and Alhaji Abubakar Mohammed by virtue of Power of Attorney, vide page 77 and abc.

3. Development on site Comprises an office complex under construction.

4. Adopting the approved rates for property Valuation within the Federal Capital Territory and a Land Value Rate of N20,000/m2 as applicable to the area, a Capital Value of N117,122,900.00 ( One Hundred and Seventeen Million, One Hundred and Twenty-Two Thousand Nine Hundred Naria) only was arrival at.

5. The Hon. Minister may wish to consider and approve the application to assign plot No.60 Cadastral Zone B09 Kado District, Abuja , in favour of Eighteenth Engineering Co. International Ltd, subject to the payment of the following fees:-

a. Capital Gain Tax - N 5,856,145.00b. Stamp Duty - N 1,756,844.00c. Registration Fee - N 1,756,844.00d. Consent Fee - N 10,000.00e. Processing Fee - N 10,000.00

Total Fees Payable - N 9,389,832.00

Mainasara G. B Director Lands

FEDERAL CAPITAL TERRITORY ADMINISTRATIONLAND ADMINISTRATION DEPARTMENT

MEMOMEMO