For many Nigerians living abroad, acquiring property back home is more than a financial decision.
According to Vanguard, it is a link to their heritage, a family legacy, and in many cases, a preparation for eventual return. But behind the dream are countless tales of fraud, disputes and abandoned projects that serve as cautionary lessons.
Reports show that property scams remain a leading source of financial loss for Nigerians in the diaspora, with millions lost to fake titles, dubious agents and half completed estates. Experts say most of these pitfalls are avoidable if buyers exercise due diligence.
Over reliance on relatives
One of the most common mistakes is leaving the entire process to family or friends. While some manage it responsibly, many have mismanaged funds or diverted them for personal use, leaving buyers stranded. Professionals warn that trust alone is not a substitute for verified expertise.
Ignoring title verification
Fake or disputed land titles continue to fuel property fraud. In cities like Lagos and Abuja, syndicates popularly known as omo onile have been accused of reselling the same parcel of land to multiple buyers. Without verifying ownership through a search at the Land Registry, buyers risk losing both their money and the property.
Failure to investigate developers
Diaspora investors often fall for glossy brochures and sweet promises without checking the credibility of developers. Some estates collapse mid way, while others are never approved by regulators. Checking past projects and regulatory status is critical before any commitment.
Paying without documentation
Another costly mistake is rushing to pay in full without securing legal papers such as a purchase agreement, deed of assignment or governor’s consent. When disputes arise, ownership becomes impossible to prove.
Neglecting location realities
Many Nigerians abroad buy land in areas with no roads, electricity or drainage, hoping the value will rise quickly. Instead, they end up with properties prone to flooding or that remain undeveloped for decades. Experts advise site inspections and environmental checks before purchase.
The way forward
Real estate professionals maintain that diaspora Nigerians can invest successfully if they approach transactions as seriously as any international deal. That means verifying ownership, demanding proper documentation and working only with registered professionals.
Buying property in Nigeria is not impossible. It just requires caution, legal protection and a shift away from blind trust.
