Lagos, August 10, 2024 – A Lagos-based real estate agent has come under scrutiny following allegations of defrauding a client of ₦36 million in a high-profile property deal gone wrong.
The agent, whose identity is yet to be fully disclosed, was reportedly entrusted with the sum by a client intending to purchase a prime piece of land in the affluent Lekki area. According to sources close to the matter, the client, who has chosen to remain anonymous due to the ongoing investigation, transferred the funds in good faith after being assured that the property was legally secure and free of any encumbrances.
However, it was soon discovered that the land in question was not available for sale and that the documents provided by the agent were allegedly forged. The client, realizing they had been deceived, immediately contacted the authorities, leading to a formal investigation by the Lagos State Police Command.
A spokesperson for the Lagos State Police, SP Benjamin Hundeyin, confirmed that the case is being investigated, stating, “We have received a report concerning an alleged fraudulent transaction involving a real estate agent and a client. Our team is working diligently to gather all the necessary evidence and ensure that justice is served.”
The incident has sparked widespread concern within Lagos’s real estate community, highlighting the need for due diligence and caution in property transactions. Legal experts have advised potential buyers to thoroughly verify property documents and engage the services of reputable real estate lawyers to avoid falling victim to similar scams.
Mr. Kola Olatunji, a property lawyer with over 15 years of experience, weighed in on the situation, saying, “This case is, unfortunately, one of many that underscores the importance of verifying the authenticity of property documents. It is crucial for buyers to conduct a thorough investigation before parting with their money.”
The accused agent is reportedly cooperating with the police but maintains his innocence, claiming that the transaction was legitimate and that any irregularities in the documentation were unintentional. His legal representatives have expressed confidence that he will be exonerated once all the facts are presented.
Meanwhile, the defrauded client has initiated civil proceedings in a bid to recover the lost funds. The case has been filed at the Lagos State High Court, with the first hearing scheduled for later this month.
As the investigation continues, the Lagos State Government has reiterated its commitment to cracking down on fraudulent activities in the real estate sector. In a statement, the Commissioner for Housing, Moruf Akinderu-Fatai, emphasized the government’s zero-tolerance policy for fraud and urged residents to report any suspicious transactions to the authorities immediately.
This latest incident adds to a growing list of property scams in Lagos, prompting calls for stricter regulations and more robust enforcement mechanisms to protect citizens from unscrupulous agents and developers. As the case unfolds, it is expected to draw significant public attention, with many hoping it will lead to reforms that will safeguard the integrity of real estate transactions in Nigeria’s commercial capital.
As the real estate market in Lagos continues to grow, so does the need for vigilance and transparency. This case serves as a stark reminder that while the potential for profit is great, the risks are equally significant. Stakeholders, from government authorities to individual buyers, must work together to ensure that the market remains safe and fair for all participants.
