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HOW YOU CAN LOSE YOUR PROPERTY DESPITE HAVING C of O IN LAGOS STATE by Dennis Isong

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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.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

HOW YOU CAN LOSE YOUR PROPERTY DESPITE HAVING C of O IN LAGOS STATE by Dennis Isong 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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Afriq Group CEO, Staff graduates of Certified Cryptocurrency Compliance Specialist 3Cs

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Afriq Group CEO, Staff graduates of Certified Cryptocurrency Compliance Specialist 3Cs

 

The A&D Forensic Institute has awarded staff members of the Afriq Group of Companies the Certified Cryptocurrency Compliance Specialist (CCCS) certification after they successfully completed the required training. The ceremony, held in Abuja from November 4 to 8, 2024, marked a significant milestone for Afriq Group’s dedication to compliance and security in the cryptocurrency sector.

Notably, Afriq Group of Companies is the first Cryptocurrency company in Africa to train over 12 staff members as Certified Cryptocurrency Compliance Specialist.

During the event, Mr. Jesam Michael, CEO of Afriq Group, expressed his gratitude to the A&D Forensic Institute for their in-depth training. He acknowledged that previously, the company focused mainly on trading and profit-making in the crypto space but had now realized the value of knowledge and compliance. “We were mainly focused on making money, but A&D has helped us see the importance of a knowledge base in the crypto space,” Mr. Jesam Michael said.

A highlight of the training week was the introduction of Mrs. Faith E., Afriq Group’s new Cryptocurrency Consultant, who visited the staff on the fourth day. The CEO described her as a mentor and guide for the company’s growth. Mrs. Faith, a seasoned expert in cryptocurrency since 2016, emphasized the importance of education in the evolving technological space. She noted, “People often view technology as magic, but anything lasting over a decade is no longer a trick; it is innovation.” Mrs. Faith stressed that staying educated is essential for Afriq Group to protect its reputation and thrive within the global community, especially given the challenges of operating in a sensitive and risky sector.

She also highlighted how this training would elevate the staff’s capabilities and open new career paths for them. “This training benefits you as individuals first, making you certified specialists, which is recognized internationally,” she said. Mrs. Faith urged the participants to make the most of their knowledge and continue learning to strengthen Afriq Group’s position in the market.

After completing their certification exams, the staff received their CCCS certificates. Mr. Martin, CEO of Farm Trading, joined the ceremony to present the certification to Mr. Jesam Michael as a newly certified Cryptocurrency Investigator. In his remarks, Mr. Martin praised the achievement as a positive step for compliance in the industry and emphasized the balance between business operations and regulatory standards. “Work closely with management, document processes, and follow rules carefully. This way, your role as compliance officers can drive success without jeopardizing business integrity,” he advised.

The event concluded with renewed excitement and a sense of purpose among the staff, who now hold specialized expertise in cryptocurrency compliance. Mr. Jesam Michael reminded everyone to continue their dedication, noting that their work would be under the scrutiny of experts like Mrs. Faith to ensure excellence and adherence to best practices.

 

Afriq Group CEO, Staff graduates of Certified Cryptocurrency Compliance Specialist 3Cs

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FirstBank Host Fintech Summit 6.0, Launches Fintech Innovators Pitch Programme

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No Plan for Customer Systems upgrade FirstBank assures

FirstBank Host Fintech Summit 6.0, Launches Fintech Innovators Pitch Programme

 

Lagos, Nigeria – November 6. FirstBank, the premier West African financial institution and financial inclusion service provider is excited to announce its 6th annual Fintech Summit, themed “Banking on Partnerships,” scheduled to hold on November 13 and 14, 2024. This year’s edition will bring together renowned subject matter experts, innovators, and industry leaders from around the world to explore the latest trends and advancements in financial technology.

Since its inception in 2016, the FirstBank Fintech Summit has established itself as a premier event, attracting top subject matter experts in digital innovation from Nigeria and around the globe. While the Summit transitioned online in 2020 due to the COVID-19 pandemic, this year’s event will be hosted as a hybrid affair, enabling participants from around the world to engage with renowned speakers and insightful discussion.

A key highlight of this year’s summit is the launch of the Fintech Innovators Pitch Programme, designed to empower early-stage fintech startups and cultivate innovation within the financial services ecosystem. Selected startups will benefit from intensive training and mentorship, culminating in an opportunity to pitch their groundbreaking solutions to FirstBank, prominent investors, and industry experts.  Winning Startups will receive essential support from FirstBank to propel their products to market, including strategic guidance, resources, and access to a vast network.

The FirstBank Fintech Summit 6.0 promises a dynamic lineup of sessions and invaluable networking opportunities, positioning it as a must-attend gathering for industry leaders and innovators. The two-day Summit will feature expert keynote addresses and panel discussions, regulatory roundtable, investor roundtable, fireside chats and masterclasses.

Emmanuel Daniel, the founder of TAB Global—a research, publication, and consulting firm known for platforms like The Asian Banker, Wealth and Society, The Banking Academy, and TAB Insights—will be a key speaker at the upcoming event. He will be joined by Olusegun Alebiosu, the Managing Director and CEO of FirstBank Group, along with a lineup of distinguished guest speakers and panellists which include Dr. (Mrs) Markie Idowu, GMD/CEO of Xpress Payment Solutions Limited; ’DeRemi Atanda, Managing Director of Remita; Tomilola Majekodunmi, Co-Founder and CEO of Bankly; Obi Emetarom, Co-Founder and CEO of ZONE; Oladipo Alabede, Regional Managing Director, West Africa (Acquiring) Network International; Obianuju Odukwe, VP of Digital & API Ecosystems at Interswitch Group; Ashley Immanuel, Co-Founder and COO of SemiColon; Chijioke Dozie, Co-Founder of Carbon; Yewande Sulaiman, Managing and Product Consultant at ProduqtEdge.

With its hybrid format, participants from around the world can access the same quality of discussions and speakers. To register for the Fintech Summit, interested participants can click on https://fintech.firstbanknigeria.com/#/?lang=en

Speaking on the Summit, the CEO FirstBank Group, Olusegun Alebiosu said “This year’s summit provides a platform to unite industry leaders, innovators, regulators, and thought leaders to explore how collaboration and partnerships can shape the future of financial services and technology. As FirstBank continues to lead in innovation, this event presents another unique opportunity to engage with key stakeholders and deepen our understanding of emerging trends in the Fintech landscape emphasizing our role not only as a participant but also as a leading and preferred partner in the Fintech domain.”

The FirstBank Fintech Summit is one of the initiatives that the Bank has established to drive innovation and foster growth in the financial technology sector. By bringing together thought leaders and disruptors in the field, the Summit serves as a catalyst for transformative ideas and collaboration.

 

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NNPC Ltd Disclaims Video of Adulterated Fuel Sold in Bottles, Jerrycans

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NNPC cautions motorists, others against panic buying

NNPC Ltd Disclaims Video of Adulterated Fuel Sold in Bottles, Jerrycans

 

The attention of the Nigerian National Petroleum Company Limited (NNPC Ltd) has been drawn to the video clip of someone pouring a dark liquid which he claims to be Premium Motor Spirit (PMS) purportedly bought from an NNPC Retail outlet at Keffi Flyover, and wishes to state as follows:

That we have carried out spot checks at all our outlets and found this claim to be false. The product was not, and could not have been bought from any NNPC Retail outlet as the company does not dispense petroleum products into bottles or jerrycans as displayed in the video.

That NNPC Retail Ltd does not deal in adulterated products as it adheres to rigorous standards and quality control measures at every stage in its operations to ensure that only high quality, safe, and reliable petroleum products are available at its stations nationwide.

That members of the public should discountenance the spurious claims made in the video and be wary of selfish and unpatriotic elements pushing such narrative as they do not mean well for the country.

That we take pride in maintaining accurate pump integrity with regular inspection and calibration to ensure consistency across our stations nationwide.

Olufemi O. Soneye
Chief Corporate Communications Officer
NNPC Ltd.
Abuja.

 

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