Business
HOW YOU CAN LOSE YOUR PROPERTY DESPITE HAVING C of O IN LAGOS STATE by Dennis Isong
HOW YOU CAN LOSE YOUR PROPERTY DESPITE HAVING C of O IN LAGOS STATE by Dennis Isong
Sahara Weekly Reports That Acquiring a Certificate of Occupancy (C of O) is often considered a crucial step in securing property rights in Lagos State, Nigeria. It grants the holder legal ownership of the property and provides a level of security against potential encroachments. However, despite possessing this essential document, property owners in Lagos State may still face various challenges that could lead to the unfortunate loss of their property. In this article, we will explore some of the factors that can jeopardize property ownership, even with a valid C of O, and discuss possible ways to protect one’s real estate investments.
Unapproved Building Structures:
One of the most common reasons for property loss is the construction of unapproved buildings or structures. The Lagos State government has stringent regulations regarding building permits and adherence to building codes. Constructing without the necessary approvals can result in property demolition, regardless of the C of O status. To avoid this risk, it is crucial for property owners to obtain proper permits and ensure compliance with the guidelines before commencing any construction or renovation work.
Right-of-Way and Public Infrastructures:
Lagos is a rapidly growing city, and the government often needs to create or expand public infrastructures such as roads, bridges, and utilities. If a property is located within a designated right-of-way or development zone, the government may exercise its powers of eminent domain and forcibly acquire the land for public use. Even with a C of O, property owners may lose their land in such circumstances. Staying informed about government development plans and potential right-of-way designations is essential for safeguarding property investments.
Land Disputes and Community Claims:
Land disputes and community claims are other significant risks that can lead to the loss of property. Ownership disputes can arise due to unclear land boundaries, conflicting title documents, or historical claims by communities. These conflicts can escalate and result in litigation, leading to prolonged legal battles. Even with a C of O, property owners may find their ownership challenged, making it crucial to conduct thorough due diligence before purchasing land and resolving any disputes promptly.
Non-Payment of Property Taxes:
Property taxes are a critical aspect of maintaining ownership rights in Lagos State. Failure to pay property taxes can lead to the government placing a lien on the property, which may ultimately result in foreclosure and the loss of the property. Ensuring prompt payment of property taxes is essential to avoid such dire consequences.
Foreclosure Due to Mortgage Default:
Many property owners finance their real estate purchases through mortgages. In the event of mortgage default, the lender may initiate foreclosure proceedings to recover the outstanding debt. Even with a C of O, if the property owner fails to meet mortgage payments, the lender has the legal right to sell the property to recoup the loan amount. To avoid foreclosure, property owners should manage their finances prudently and seek assistance from financial advisors if facing difficulties with mortgage repayments.
Environmental Regulations and Erosion:
Lagos State is susceptible to environmental challenges, including coastal erosion and flooding. Properties located in vulnerable areas may be subject to erosion and other environmental hazards that could lead to significant property damage. In extreme cases, the government may enforce environmental regulations that restrict or prohibit development in certain areas, rendering the property unsuitable for habitation or development. Being aware of environmental risks and complying with relevant regulations can help property owners mitigate these threats.
Fraud and Title Irregularities:
The risk of property loss due to fraud and title irregularities is a concern for property owners in Lagos State. Fraudulent activities such as fake land titles, forged documents, and fraudulent sales can lead to the wrongful transfer of ownership. Despite holding a C of O, property owners may find themselves embroiled in legal battles to reclaim their property. Engaging the services of reputable real estate agents and conducting comprehensive title searches can minimize the risk of falling victim to fraudulent activities.
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
Nigeria’s Inflation Drops to 15.10% as NBS Reports Deflationary Trend
Nigeria’s headline inflation rate declined to 15.10 per cent in January 2026, marking a significant drop from 27.61 per cent recorded in January 2025, according to the latest Consumer Price Index (CPI) report released by the National Bureau of Statistics.
The report also showed that month-on-month inflation recorded a deflationary trend of –2.88 per cent, representing a 3.42 percentage-point decrease compared to December 2025. Analysts say the development signals easing price pressures across key sectors of the economy.
Food inflation stood at 8.89 per cent year-on-year, down from 29.63 per cent in January 2025. On a month-on-month basis, food prices declined by 6.02 per cent, reflecting lower costs in several staple commodities.
The data suggests a sustained downward trajectory in inflation over the past 12 months, pointing to improving macroeconomic stability.
The administration of President Bola Ahmed Tinubu has consistently attributed recent economic adjustments to ongoing fiscal and monetary reforms aimed at stabilising prices, boosting agricultural output, and strengthening domestic supply chains.
Economic analysts note that while the latest figures indicate progress, sustaining the downward trend will depend on continued policy discipline, exchange rate stability, and improvements in food production and distribution.
The January report provides one of the clearest indications yet that inflationary pressures, which surged in early 2025, may be moderating.
Nigeria’s headline inflation rate declined to 15.10 per cent in January 2026, marking a significant drop from 27.61 per cent recorded in January 2025, according to the latest Consumer Price Index (CPI) report released by the National Bureau of Statistics.
The report also showed that month-on-month inflation recorded a deflationary trend of –2.88 per cent, representing a 3.42 percentage-point decrease compared to December 2025. Analysts say the development signals easing price pressures across key sectors of the economy.
Food inflation stood at 8.89 per cent year-on-year, down from 29.63 per cent in January 2025. On a month-on-month basis, food prices declined by 6.02 per cent, reflecting lower costs in several staple commodities.
The data suggests a sustained downward trajectory in inflation over the past 12 months, pointing to improving macroeconomic stability.
The administration of President Bola Ahmed Tinubu has consistently attributed recent economic adjustments to ongoing fiscal and monetary reforms aimed at stabilising prices, boosting agricultural output, and strengthening domestic supply chains.
Economic analysts note that while the latest figures indicate progress, sustaining the downward trend will depend on continued policy discipline, exchange rate stability, and improvements in food production and distribution.
The January report provides one of the clearest indications yet that inflationary pressures, which surged in early 2025, may be moderating.
Alpha Morgan to Host 19th Economic Review Webinar
In an economy shaped by constant shifts, the edge often belongs to those with the right information.
On Wednesday, February 25, 2026, Alpha Morgan Bank will host the 19th edition of its Economic Review Webinar, a high-level thought leadership session designed to equip businesses, investors, and individuals with timely financial and economic insight.
The session, which will hold live on Zoom at 10:00am WAT and will feature economist Bismarck Rewane, who will examine the key signals influencing Nigeria’s economic direction in 2026, including policy trends, market movements, and global developments shaping the local landscape.
With a consistent track record of delivering clarity in uncertain times, the Alpha Morgan Economic Review continues to provide practical context for decision-making in a dynamic environment.
Registration for the 19th Alpha Morgan Economic Review is free and can be completed via https://bit.ly/registeramerseries19
It is a bi-monthly platform that is open to the public and is held virtually.
Visit www.alphamorganbank to know more.
GTBank Launches Quick Airtime Loan at 2.95%
Guaranty Trust Bank Ltd (GTBank), the flagship banking franchise of GTCO Plc, Africa’s leading financial services group, today announced the launch of Quick Airtime Loan, an innovative digital solution that gives customers instant access to airtime when they run out of call credit and have limited funds in their bank accounts, ensuring customers can stay connected when it matters most.
In today’s always-on world, running out of airtime is more than a minor inconvenience. It can mean missed opportunities, disrupted plans, and lost connections, often at the very moment when funds are tight, and options are limited. Quick Airtime Loan was created to solve this problem, offering customers instant access to airtime on credit, directly from their bank. With Quick Airtime Loan, eligible GTBank customers can access from ₦100 and up to ₦10,000 by dialing *737*90#. Available across all major mobile networks in Nigeria, the service will soon expand to include data loans, further strengthening its proposition as a reliable on-demand platform.
For years, the airtime credit market has been dominated by Telcos, where charges for this service are at 15%. GTBank is now changing the narrative by offering a customer-centric, bank-led digital alternative priced at 2.95%. Built on transparency, convenience and affordability, Quick Airtime Loan has the potential to broaden access to airtime, deliver meaningful cost savings for millions of Nigerians, and redefine how financial services show up in everyday life, not just in banking moments.
Commenting on the product launch, Miriam Olusanya, Managing Director of Guaranty Trust Bank Ltd, said: “Quick Airtime Loan reflects GTBank’s continued focus on delivering digital solutions that are relevant, accessible, and built around real customer needs. The solution underscores the power of a connected financial ecosystem, combining GTBank’s digital reach and lending expertise with the capabilities of HabariPay to deliver a smooth, end-to-end experience. By leveraging unique strengths across the Group, we are able to accelerate innovation, strengthen execution, and deliver a more integrated customer experience across all our service channels.”
Importantly, Quick Airtime Loan highlights GTCO’s evolution as a fully diversified financial services group. Leveraging HabariPay’s Squad, the solution reinforces the Group’s ecosystem proposition by bringing together banking, payment technology, and digital channels to deliver intuitive, one-stop experiences for customers.
With this new product launch, Guaranty Trust Bank is extending its legacy of pioneering digital-first solutions that have redefined customer access to financial services across the industry, building on the proven strength of its widely adopted QuickCredit offering and the convenience of the Bank’s iconic *737# USSD Banking platform.
About Guaranty Trust Bank
Guaranty Trust Bank (GTBank) is the flagship banking franchise of GTCO Plc, a leading financial services group with a strong presence across Africa and the United Kingdom. The Bank is widely recognized for its leadership in digital banking, customer experience, and innovative financial solutions that deliver value to individuals, businesses, and communities.
About HabariPay
HabariPay is the payments fintech subsidiary of GTCO Plc, focused on enabling fast, secure, and accessible digital payments for individuals and businesses. By integrating payments and digital technology, HabariPay supports innovative services that make everyday financial interactions simpler and more seamless.
Enquiries:
GTCO
Group Corporate Communication
[email protected]
+234-1-2715227
www.gtcoplc.com
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