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10 COSTLY MISTAKES TO AVOID WHEN BUYING A LAND IN NIGERIA BY Dennis Isong

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10 COSTLY MISTAKES TO AVOID WHEN BUYING A LAND IN NIGERIA BY Dennis Isong

 

Purchasing land in Nigeria is one of the most major real estate investments, requiring careful thought and extensive research. While purchasing land has enormous potential for growth and financial gains in the future, there are a number of obstacles that potential buyers must avoid to guarantee a safe and successful transaction. This article examines ten expensive blunders that people should stay away from while investing in Nigerian real estate.

 

 

10 COSTLY MISTAKES TO AVOID WHEN BUYING A LAND IN NIGERIA BY Dennis Isong

These mistakes have the ability to compromise the integrity of the investment, ranging from ignoring zoning laws and physical inspections to missing important paperwork and falling for enticing offers. Aspiring landowners may protect their investments and make wise choices in the dynamic and ever-changing Nigerian real estate market by being aware of these typical blunders and actively avoiding them.

THE MISTAKES TO AVOID

1. Failure to Conduct Proper Due Diligence:

Conducting due diligence involves researching the property’s history, including any legal disputes, outstanding taxes, or encumbrances. Consult with legal professionals to ensure that the property has a clear title and is free from legal complications.

2. Ignoring Land Documentation:

Land documentation, such as the Certificate of Occupancy (C of O), survey plan, and deed of assignment, are critical. Ensure that these documents are authentic, up-to-date, and legally binding. A legal expert can assist in verifying the legitimacy of these documents.

3. Bypassing a Professional Survey:

A professional survey helps to accurately determine the land boundaries and prevent boundary disputes. Engaging a licensed surveyor ensures that the land’s dimensions are accurate, and potential issues like encroachments are identified and addressed. Charts the coordinates of the property and verify at Surveyor’s General office.

4. Disregarding Zoning Regulations:

Understanding local zoning laws is crucial to ensure that the land is suitable for your intended use. Zoning regulations dictate what type of development is allowed in a specific area. Non-compliance can lead to legal issues and the inability to use the land as planned.

5. Skipping Physical Inspection:

Physically inspecting the land allows you to assess its current state, the neighborhood, and its proximity to essential services. It also helps in identifying any potential environmental concerns or risks that may not be evident through online information.

6. Neglecting Community and Environmental Factors:

Examining community dynamics involves understanding the local community’s acceptance of the proposed development. Additionally, assessing potential environmental risks, such as flooding or contamination, is vital for the long-term viability and safety of the investment.

7. Incomplete Title Transfer:

Ensuring a complete and legal title transfer is crucial. Confirm that the seller has the legal right to sell the property, and all necessary paperwork, including the change of ownership, is completed. Failure to do so might lead to legal disputes in the future.

8. Ignoring Infrastructure Development Plans:

Being aware of government plans for infrastructure development in the area can significantly impact the land’s value. Upcoming projects like roads, schools, or commercial centers can positively influence property prices, making it a more attractive investment.

9. Not Confirming Land Ownership:

Verifying the seller’s ownership through land registry records is essential. This ensures that there are no competing claims to the property and helps prevent potential legal issues arising from disputes over ownership. This usually happens when you buy land from Omo onile. If at all you are convinced of their authenticity, ensure that you begin its development immediately.
It’s advisable to buy from only those you trust and that have adequate knowledge of Real Estate.

10. Falling for Unrealistic Deals:

If a deal seems too good to be true, it’s crucial to investigate thoroughly. Unrealistically low prices may indicate hidden issues, such as title disputes, undisclosed liabilities, or fraudulent activities. Seek professional advice and proceed cautiously to avoid falling victim to scams or financial losses.

Dennis Isong is a TOP REALTOR IN LAGOS. He Helps Nigerians in Diaspora to Own Property In Lagos Nigeria STRESS-FREE. For Questions WhatsApp/Call 2348164741041

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Court Crushes Fraud Allegations Against Zinox Boss, Labels Case ‘Campaign of Persecution’

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Court Crushes Fraud Allegations Against Zinox Boss, Labels Case ‘Campaign of Persecution’

 

In a dramatic courtroom turn, Justice Akpan Okon Ebong of the FCT High Court has once again cleared billionaire tech magnate Leo Stan Ekeh, Chairman of Zinox Technologies, alongside his wife Chioma Ekeh and 11 others, dismissing the ₦162 million fraud allegations filed against them as a “gross abuse of court process.”

The high-profile suit was spearheaded by renowned human rights lawyer Femi Falana (SAN), who purportedly acted on the authority of a fiat granted by Nigeria’s Attorney General and Minister of Justice, Lateef Fagbemi. The case alleged fraudulent diversion of funds linked to a laptop supply contract with the Federal Inland Revenue Service (FIRS), on behalf of Benjamin Joseph, CEO of Citadel Oracle Concept Limited.

However, Justice Ebong delivered a scathing rebuke, highlighting that the case had already been exhaustively investigated by multiple courts and law enforcement agencies, all of which found the allegations unsubstantiated.

“One intriguing aspect of this matter is that none of the law enforcement agencies involved in the investigation of the nominal complainant’s (Mr. Joseph) numerous petitions has found merit in any of his allegations against the defendants,” Justice Ebong remarked, sharply critiquing the persistence of the plaintiff. The judge added, “When called upon before Senchi J. (Justice Danlami Z. Senchi) to prove his said allegations to the court, he failed to turn up in court. One then wonders on what premise he wants to maintain this campaign of persecution against the defendants.”

In his certified ruling dated March 20, 2025, Justice Ebong unequivocally stated:
“It is my conclusion based on the foregoing that this charge (No. FCT/HC/CR/985/2024, Federal Republic of Nigeria v Leo Stan Ekeh and 12 ORS) constitutes a gross abuse of court process and is liable to dismissal. I accordingly hereby dismiss it.”

Defense lawyer Chris Eze Ozims welcomed the ruling, noting, “This judgment aligns with previous court decisions, reaffirming that these allegations are baseless.”

Chief defense counsel Matthew Burkaa (SAN) went further, describing the verdict as a “victory for integrity and the rule of law.”

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ZENITH BANK MAINTAINS IMPRESSIVE  TRACK RECORD AS PBT HITS N1.3 TRILLION, PROPOSES N4.00 FINAL DIVIDEND

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ZENITH BANK RAISES OVER N350 BILLION IN COMBINED RIGHTS ISSUE AND PUBLIC OFFER

ZENITH BANK MAINTAINS IMPRESSIVE  TRACK RECORD AS PBT HITS N1.3 TRILLION, PROPOSES N4.00 FINAL DIVIDEND

Zenith Bank Plc has announced its audited financial results for the year ended December 31, 2024, delivering   significant   growth   across   key   performance   indicators.   The   Bank’s   impressive performance reflects effective management and pricing of its risk assets, as well as an optimized treasury portfolio, reinforcing its position as a leader in Nigeria’s banking industry.According to the audited financial results for the 2024 financial year presented to the Nigerian Exchange (NGX), the Bank recorded a double-digit year-on-year (YoY) growth of 86% in gross earnings, increasing from N2.13 trillion in 2023 to N3.97 trillion in 2024.
This growth was driven by a 138% increase in interest income, supported by investment in high-yield government securities, and growth in the Bank’s loan book.Commenting on the results, Dame Dr Adaora Umeoji OON, Group Managing Director/CEO, stated “This year’s performance underscores our unwavering commitment to innovation and customer-centric solutions. We will also remain focused on deepening financial inclusion, enhancing service delivery, and creating value for our customers and stakeholders.Zenith Bank’s profit before tax (PBT) rose by 67%, reaching N1.3 trillion in 2024 from N796 billion in 2023, driven by a combination of top-line expansion and efficient treasury portfolio management. Net interest income increased by 135% from N736 billion in 2023 to N1.7 trillion, reinforcing the Bank’s strong core  banking  performance and ability to grow earnings despite macroeconomic headwinds.
Non-interest income also grew by 20% from N919 billion to N1.1 trillion. The Bank’s total assets grew by 47% from N20 trillion in 2023 to N30 trillion in 2024, underpinned by a strong liquidity position and effective balance sheet management. Customer deposits surged by 45% from N15 trillion to N22 trillion in 2024, reflecting a historically strong corporate deposits portfolio and a sustained increase in retail deposits. The increase in retail deposits was driven by customer acquisition and the Bank’s strategic focus on low-cost funding.Return on Average Equity (ROAE) declined to 32.5% on the back of the injection of new capital, while Return on Average Assets (ROAA) remained unchanged at 4.1%. The Bank’s cost-to-income increased slightly from 36.1% to 38.9%, despite inflationary pressures. Its Non-Performing Loan (NPL) ratio stood at 4.7%, with a coverage ratio of 223%, underscoring the Bank’s prudent risk management   and   commitment   to   maintaining   a   resilient   loan   book,   ensuring   stability   and confidence in the Bank’s operations.Given the good earnings performance, the Bank has proposed a final dividend of N4.00 per share, which brings the total dividend for the year to N5.00 per ordinary share. In a significant milestone, Zenith Bank successfully raised N350 billion in capital through a rights issue and public offer, with a subscription rate of 160%, demonstrating strong investor confidence  in the Bank’s growth trajectory.
The proceeds from this capital raise will be strategically deployed to enhance technology infrastructure, strengthen liquidity, and support the Bank’s expansion into key African markets, unlocking new growth opportunities. The bank remains focused on delivering sustainable growth, enhancing shareholder value, and driving financial inclusion through innovative banking solutions. With its solid capital base and innovative product offerings, the Bank is well-positioned to navigate evolving market conditions while continuing to strengthen its leadership in the Nigerian financial landscape.Zenith Bank’s track record of excellent performance has continued to earn the brand numerous awards including being recognised as the Number One Bank in Nigeria by Tier-1 Capital for the fifteenth consecutive year in the 2024 Top 1000 World Banks Ranking, published by The Banker Magazine. The Bank was also awarded the Bank of the Year (Nigeria) in The Banker’s Bank of the Year Awards for 2020, 2022 and 2024; and Best Bank in Nigeria for four times in five years, from 2020 to 2022 and in 2024, in the Global Finance World’s Best Banks Awards.Further recognitions include Best Commercial Bank, Nigeria for four consecutive years from 2021 to   2024   in   the   World   Finance   Banking   Awards   and   Most   Sustainable   Bank,   Nigeria   in   the International   Banker   2023   and   2024   Banking   Awards.   Additionally,   Zenith   Bank   has   been acknowledged as the Best Corporate Governance Bank, Nigeria, in the World Finance Corporate Governance  Awards   for   2022,   2023 and 2024  and   ‘Best   in Corporate  Governance’   Financial Services’ Africa for four consecutive years from 2020 to 2023 by the Ethical Boardroom. The Bank’s commitment to excellence saw it being named the Most Valuable Banking Brand in Nigeria in the Banker Magazine Top 500 Banking Brands for 2020 and 2021, Bank of the Year 2023 and 2024 at the BusinessDay Banks and Other Financial Institutions (BAFI) Awards, and Retail Bank of the Year for three consecutive years from 2020 to 2022 and in 2024 at the BAFI Awards.
The  Bank   also   received   the   accolades of  Best   Commercial   Bank,   Nigeria   and Best Innovation in Retail Banking, Nigeria, in the International Banker 2022 Banking Awards. Zenith Bank was also named Most Responsible Organisation in Africa, Best Company in Transparency and Reporting and Best Company in Gender Equality and Women Empowerment at the SERAS CSR Awards Africa 2024; Bank of the Year 2024 by ThisDay Newspaper; Bank of the Year 2024 by New Telegraph Newspaper; and Best in MSME Trade Finance, 2023 by Nairametrics.

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From Dust to Dreams: Young Miner Builds House for His Parents at Just 13!

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From Dust to Dreams: Young Miner Builds House for His Parents at Just 13!

13-Year-Old Boy Builds House for Parents with Earnings from Local Mines – A Tale of Grit and Determination!

In an astonishing feat of resilience and hard work, a 13-year-old boy from Akun Ejiba, Agidi Development Area, in Nasarawa Eggon LGA of Nasarawa State, has built a house for his parents using earnings from his labor in local mines.

The young boy, whose identity is yet to be disclosed, reportedly spent countless grueling hours working in the hazardous local mining fields, saving every possible naira to achieve this remarkable goal. His unwavering determination and deep sense of family loyalty have left the entire community in awe.

A Child’s Sacrifice, A Parent’s Pride

From Dust to Dreams: Young Miner Builds House for His Parents at Just 13!

Sources within the community confirm that the boy took on the backbreaking labor at an age when most children are in school or at play. Yet, instead of spending his earnings on personal desires, he selflessly dedicated them to constructing a home for his struggling parents—a feat many adults struggle to achieve in a lifetime.

His hard work, resilience, and selflessness have not gone unnoticed. Members of the community have hailed him as a symbol of dedication and sacrifice, calling for support to ensure he gets an education and a better future.

Mixed Reactions: Inspiration or a Reflection of Society’s Harsh Reality?

While the story has been celebrated as inspirational, it also raises concerns about child labor and the harsh economic realities forcing young children into dangerous jobs. Some argue that no child should have to endure such hardship to provide for their family.

Many are now urging the government, NGOs, and well-meaning individuals to intervene, ensuring that this young hero is given the opportunity to pursue his education and live the childhood he deserves.

What’s Next for the Young Builder?

As his story spreads, there are calls for support and scholarships to lift him from the mines and into the classroom. Will the government step in? Will generous benefactors come to his aid?

For now, this 13-year-old has etched his name in history as a child whose love for family defied the odds, proving that even the smallest hands can build the biggest dreams.

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