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Introduction: The Hidden Fraud in Abuja’s Real Estate Market
Real estate in Nigeria continues to be plagued by fraudulent developers and unregulated sales. One of the most shocking recent discoveries is from GUZAPE 2, Abuja, where a developer has sold 30% of a ghost estate.
This revelation came from a female property lawyer who, while verifying documents on behalf of her clients, found out that the estate in question was being marketed based on a promise of future allocation: no allocation yet, no building plan/ approval, etc
How the Fraud Was Exposed:
The lawyer met directly with the estate’s CEO to sight and verify allocation documents of the said estate, only to discover the truth:
- The developer has no documents.
- Flyers were already printed.
- Sales had already begun.
- 30% of the estate had been sold to unsuspecting Nigerians.
When confronted, the developer confessed that he was banking on a yet-to-be-approved allocation and had already begun collecting money from buyers.
The Shocking Part: Silence from a Professional
When approached by our team at Encumbered Properties to publicly name the fraudulent developer and estate involved, the lawyer refused, claiming it was not her responsibility to warn the public. This silence raises crucial ethical and legal questions:
Can a lawyer conceal discovered fraud?
Is it not professional misconduct to withhold such vital information?
Could silence in such cases make one complicit?
The Bigger Problem: A System That Encourages Quietness
Too many professionals and stakeholders in Nigeria’s real estate sector adopt a “not-my-business” approach when fraud is detected. This silence allows criminals to thrive and innocent Nigerians to fall victim.
We’ve seen it before, where supposedly “responsible” Nigerians are either concealing or defending frauds because their personal interests are at stake.
Our Call to Action: Speak Out or You’re an Accomplice!
At EncumberedProperties.com, we believe when you see something, SAY something.
If you are:
A real estate lawyer
A property agent
A civil servant with insider knowledge
Or just a concerned Nigerian
do not wait until you or your loved one becomes a victim before you speak out.
Final Word:
This GUZAPE 2 case is a ticking time bomb. Whether or not allocation eventually comes through, a crime has already been committed: the marketing and sale of land without any title or allocation is fraudulent and punishable by law.
We call on the Inspector General of Police to establish a Real Estate Fraud Unit in Nigeria, dedicated to exposing, investigating, and prosecuting cases like this.
Until then, EncumberedProperties.com remains the frontline defense for Nigerians who want to invest safely.
Have you encountered a real estate scam? Share your experience in the comments below to help others stay informed!
At Encumbered Properties, our mission is to help you make safe and informed property investments decisions.
In summary, before you buy any property anywhere in the world, always:
Verify the property’s status on EncumberedProperties.com;
Consult a real estate lawyer; and
Avoid untraceable cash transactions.
Watch the complete video of this article being extensively explained for better understanding by clicking on the video below, or visit our YouTube channel through the link below in this article to watch the educative video and many more other informative piece to keep you scam free on real estate investing.
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This article was put together by Madueke Enwere: a property lawyer, a real estate investor, and a senior police officer and by God’s grace, the founder, encumberedproperties.com