The Nigerian real estate market is booming, but with growth comes risk. Every year, unsuspecting buyers and tenants lose millions to fraudsters posing as genuine agents or property owners. Cheap deals that look too good to be true usually are — and knowing how to protect yourself is the first step to staying safe.
1. Always Verify Paperwork
Before committing to any property, ensure you carefully review and verify all documents. Check the Certificate of Occupancy (C of O), Governor’s Consent, or Deed of Assignment. Cross-check these with the Lagos State Land Registry or the relevant state property authority to confirm authenticity.
2. Request Video Calls or Property Tours
In the digital age, scammers often reuse pictures of properties from the internet to lure unsuspecting buyers. Insist on live video calls or, better yet, physical tours. If an “agent” resists this, that’s a red flag.
3. Visit the Agent’s Office Before Paying a Dime
Reputable agents have verifiable offices. Don’t make payments to individuals you can’t trace physically. Check that the agency is registered with the Estate Surveyors and Valuers Registration Board of Nigeria (ESVARBON).
4. Don’t Let FOMO Cost You
Fraudsters thrive on urgency. If you’re being pressured to “pay now or lose it,” pause. Take your time to investigate. The fear of missing out (FOMO) has made many lose their life savings.
5. Cross-Check with Trusted Platforms
At Property Media Week (PMW), we regularly share verified market insights and safe investment practices. Visit our real estate news section for guides and industry updates that keep you informed and protected.
Real estate remains one of the most rewarding investments in Nigeria, but due diligence is non-negotiable. Trust, but always verify.
