The police have arrested a real estate developer, Alabi Idowu, for allegedly defrauding over 200 intending tenants in a newly-constructed building at No. 1 Karimu Street, off Oyebanjo Street, Alapere, Ketu, Lagos State. Report gathered that the developer allegedly also posed as the landlord of the building to defraud the prospective tenants to the tune of N50m. The developer, while ...
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FCTA reveals how to conduct legal search on landed properties in Abuja
The FCT Administration has unveiled new procedures for conducting legal search on landed properties in the Federal Capital Territory, Abuja to curb fraud and abuses. The FCT Director of Land Administration, Adamu Jibrin Hussaini, dropped this hint at the weekend in his office while addressing some senior staff of the department. The Director said that henceforth, applicants must write and ...
Read More »Land speculator docked over alleged 710,000 scam
A land speculator, Ibrahim Yusuf, on Friday appeared before a Kubwa Grade 1 Area Court, Abuja, over alleged N710, 000 scam. The defendant of Arab Road, Kubwa, Abuja was docked on a charge of cheating, an offence he denied committing. Police prosecutor, Babajide Olanipekun, said that Sani Abubakar of Kubwa, Abuja, reported the case at Kubwa Police Station on April ...
Read More »NIS Scam- EFFC orders forfeiture of properties bought with proceeds
The Economic and Financial Crimes Commission, EFCC, on January 24, 2018, asked Justice Nnamdi Dimgba of the Federal High Court sitting in Maitama, Abuja, to order the interim forfeiture of properties purchased by Drexel Tech Nig. Ltd with proceeds of the recruitment exercise into the Nigeria Immigration service,( NIS Scam). The Economic and Financial Crimes Commission, EFCC, on January 24, 2018, ...
Read More »Red flags in real estate transactions
Real estate transactions involve the leasing, renting, buying or selling of property and is viewed as a very profitable venture. Unfortunately, scams and frauds are a common feature within the sector. This article identifies red flags in real estate transactions you must watch out for. Scam or fraud is a major obstacle bedeviling real estate transactions in Nigeria, this is ...
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