How Stronger Regulation Can Protect Nigerians From Real Estate Fraud

Nigeria’s property market remains vulnerable to unlicensed agents, fake property documents and the misuse of buyers’ or tenants’ deposits. Many people still pay agency fees, caution fees and purchase deposits into personal accounts without a clear audit trail or verified mandate from the property owner. The article argues for stronger state-level regulation, public registers of licensed agents and mandatory escrow accounts for client funds. It also recommends written agency agreements, digital identity checks and land-registry verification before a property is listed or money is released. Lagos, Kaduna and the FCT show different approaches to agency oversight, but stronger enforcement and public awareness are needed nationwide. Property seekers should verify an agent’s registration, confirm property titles and avoid transferring large deposits directly to an unverified broker.

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