Digital Platform Launched To Protect Property Investors
By TOSI ORE
A Tech Response to Nigeria’s Deep-Rooted Property Scam Problem
Fraud as a Structural Threat
REAL estate fraud in Nigeria has evolved from isolated incidents into a systemic threat, draining over ₦100 billion annually from unsuspecting investors. Fake land titles, multiple sales of the same property and collusion with informal agents have become common features of the market.
It is against this backdrop that Taiwo Joel Oladapo and Gbenga Agbana launched an anti-fraud mobile application designed to bring transparency into property transactions. The app, unveiled in Lagos, is being described as Nigeria’s first comprehensive digital response to real estate fraud.
What the App Promises to Do
According to Oladapo, the platform allows users to assess the legal standing of properties before making payments. It identifies properties under dispute, those seized by anti-corruption agencies, and assets without clear documentation.
The goal, he said, is to prevent investors from relying on trust alone in a sector where documentation gaps are frequently exploited. “People lose their life savings because they lack access to verified information,” Oladapo said.
Diaspora Investments Under Threat
Nigeria’s Diaspora has increasingly turned to real estate as a stable investment option. With billions of dollars flowing into the country annually, the sector has become a critical economic channel.
However, Oladapo warned that fraud disproportionately affects Diaspora investors, many of whom transact remotely and depend on third parties. These losses, he said, undermine confidence and reduce future capital inflows.
Housing Crisis and Lost Opportunities
Nigeria faces a severe housing shortage, with only about 10.71 million housing units serving a population of roughly 230 million. Less than one in ten Nigerians owns a home, highlighting the scale of unmet demand.
Despite its capacity to generate millions of jobs each year, the sector remains constrained by corruption and lack of regulation. Oladapo argued that eliminating fraud is a prerequisite for sustainable housing development.
Positioning Nigeria for Transparent Investment
The developers say the app is not just a commercial product but a sector-wide intervention. By promoting accountability and reducing corruption, the platform could save Nigeria billions of naira annually and enhance the country’s reputation among local and foreign investors.
Describing the initiative as unprecedented in Nigeria and West Africa, Oladapo said the app represents a step toward a transparent, rules-based real estate market capable of supporting national development.
