This year, I investigated numerous lands and houses in Lagos, uncovering a disturbing trend: rampant fraud and deception within the real estate sector. I’ve witnessed countless individuals fall victim to unscrupulous developers, leaving them with nothing but regret and financial ruin.
Here are 7 companies that would make you think twice before trusting anyone with your hard-earned money.
1. A prominent pastor selling lands in Epe is also peddling false hopes. His company aggressively markets an estate, but here’s the kicker: the C of O is already used to secure a mortgage. If you’ve bought land there, I advise fasting and praying.
2. There’s a real estate company that starts with ‘P’ and lays estates like chickens lay eggs. Yet, every verification I’ve done shows they can’t provide original title documents. Their contracts are riddled with problems, and allocation delays stretch for months or even years. How they keep attracting buyers is a mystery
3. Another company, beginning with ‘R,’ aggressively pushes lands for sale in Ibeju Lekki. One of the estates I investigated, sits on a proposed refinery site owned by Lagos State. That day, I gave up on verifying any of their properties. Allocation issues, bullying, and fake documentation are just the tip of their iceberg of troubles.
4. A real estate firm starting with ‘E’ sells lands from Ajah to Ogun, but most of their properties have dubious titles. One of their estates I investigated in Ogun turned out to be on land designated for the Lagos-Ogun Port Authority. To everyone who bought there? Say goodbye to your investment because government bulldozers don’t respect emotions.
5. A company starting with ‘K’ operates out of VGC Shopping Complex. One UK client bought land from them only to discover later that it was government-acquired for an industrial layout. Now, the client and the company are exchanging legal blows.
6. A developer on Orchid Road whose name starts with ‘U’, known for his love of short knickers, sells houses with incomplete or bad title documents. Buyers are promised governor’s consent, but it’s rarely completed. Once he’s done selling one estate, he abandons the residents and moves on, leaving them to face harassment and possible demolition.
7. A company starting with ‘W’ is selling lands after Orchid Road behind Cooplag Estate that fall under the proposed Coastal Road. A client of mine almost bought two plots but hesitated over hidden charges. When I uncovered the truth, the director tried to bribe me with ₦2 million to keep quiet. Imagine selling danger based on “I believe the government will change their mind’.
These are just some of the shady dealings I’ve uncovered this year. Lagos has over 10,000 real estate companies, and it’s impossible to investigate them all. Do your research, demand original documents, and verify thoroughly. Don’t let these fraudsters turn your 2025 dreams into nightmares.
by Mathew Ottah
