Business

HOW TO IDENTIFY FAKE REAL ESTATE COMPANIES IN LAGOS BY DENNIS ISONG

Published

3 years ago

July 24, 2023

HOW TO IDENTIFY FAKE REAL ESTATE COMPANIES IN LAGOS BY DENNIS ISONG

Last year, Mr. Ezekiel was looking for a small house to buy so that he can stay there anytime he comes to Lagos (his family is in Benin and he doesn’t want to keep renting an apartment because of his experiences with people).

There was a signpost of a real estate company he used to see anytime he was on his way to work. Then, he decided to make inquiries from them.

He was ushered in with so much excitement as if they had been waiting for him all along. He thought, well, maybe it’s part of customer care service.

Then, he described the kind of property he wanted and they said they don’t have it yet but tried to convince him to buy land. He yielded after so much persuasion.

He was told that it would take a few weeks before he can be allocated and Mr. Ezekiel was fine with it.

On the week of allocation, excuses kept falling on excuses from the real estate company. Initially, Mr. Ezekiel didn’t have any reason to doubt but at some point, he felt uncomfortable and decided to go with a friend.

The real estate company sent someone to take them to the place. On getting there, Mr. Ezekiel was shown the land and this representative found a way to excuse himself that he would be back unknown to Mr. Ezekiel and his friend that the guy had absconded, leaving them there.

Some minutes later, a man approached them and asked them what they wanted. Mr. Ezekiel said he had come to inspect his land. The man gave a roaring laughter and he said, “it’s your turn today. Anyway, this land belongs to Alhaji Umaru and if you walk another 2 miles, you will see a cattle ranch which also belongs to Alhaji. If you claim to have bought this land, the only person that can sell it to you is Alhaji.”

Apparently, Mr. Ezekiel was not allocated. He was just taken somewhere so that he can get off their back.

Mr. Ezekiel was furious and dashed down to the office. Before he got there, they had moved.

In Nigeria, there are thousands of real estate companies out there. Many of them take your money without allocating land to people that paid. Please don’t pick on any random real estate company because you are seeing their signposts.

When they are done with the evil, they move elsewhere, so it’s difficult to pin them to a location.

How do you avoid falling into the hands of a fake real estate company?

In everything we do, we have to be very patient. I understand the eagerness that comes with wanting to buy a property but, please, breathe!

Because with patience, you can easily spot some things ordinarily you may never have thought of.

1. CHECK THEIR PROFILE

No matter the make-believe, fake real estate companies’ profiles are always vague. Yes, they talk about what they do, and at the same time, they are saying nothing. If you notice any disparity, don’t ignore it. Ensure you pay attention to everything they say about their company.

2. CHECK THEIR SOCIAL MEDIA TRACK RECORD

You can spot a fake real estate company by checking its social media record. All you need to do is type the name on google. You will get if not all but some information that would inform your decision on whether you should go on or look for another real estate company.

3. DOES THEIR OFFICE ADDRESS ON THE PAGE TALLY WITH WHERE YOU ARE ASKED TO SEE THEM?

Any serious real estate company will change its office location on social media platforms if there’s a change of location. When you notice that their office address is completely different from where you are asked to come over, it’s a red flag.

4. IS IT A KNOWN COMPANY?

A real estate company that claims to have been in business in Lagos shouldn’t be strange when you mention their name to people. If several people you ask about them do not have any idea who they are, it’s a big red flag.

5. ARE THEY REGISTERED?

You can’t have a real estate company and not have it registered. It’s not a business you can do without proper and lawful registration.

If the real estate company you are about to start a property business with isn’t registered, you may want to take a step back.

6. CHECK IF THE PLACES THEY CLAIM TO HAVE PROPERTIES IN TRULY EXIST

We can’t know everywhere, even if we live in the same location for years. When they tell you about the location where their properties, don’t wait and do nothing. Do your investigation as well. A fake real estate company is dubious of location, they take advantage of this.

7. ARE THEY IN A HURRY TO SELL TO YOU

If you notice any form of desperation, quit!
And the most important thing is that, if your mind isn’t convinced, DON’T DO IT!

Dennis Isong Helps Nigerians In Diaspora To Get Property In Lagos Easily. Download this GIFT “Real Estate Guide 101”.CLICK THE LINK BELOW TO DOWNLOAD FOR FREE https://landproperty.ng/free

Business

FirstBank Partners Eko Hotels & KEY Academy for ChessMasters 2026 Tournament

Published

9 hours ago

April 9, 2026

Sahara Weekly

FirstBank Set to Launch Tailored Financial Services for Blind and Physically Challenged Customers

FirstBank Partners Eko Hotels & KEY Academy for ChessMasters 2026 Tournament

Lagos, 30 March 2025 – FirstBank, West Africa’s premier financial institution and the leading financial inclusion service provider, has announced its strategic sponsorship of the second edition of ChessMasters, Africa’s largest school chess tournament. The announcement was made at the official press conference of the tournament held on 16 March 2026 at Eko Hotels and Suites, Lagos.

ChessMasters is an annual chess tournament designed to equip the next generation with critical thinking, problem-solving, and leadership skills. The competition targets children in primary school aged between 6 and 11 years old. Organised by Eko Hotels and Suites & KEY Academy , ChessMasters was created to provide thousands of children across Nigeria with opportunities to develop modern educational skills, bringing schools together on a national stage.

Speaking at the press conference, Olayinka Ijabiyi, Acting Group Head, Marketing & Corporate Communications at FirstBank, said, “Our sponsorship of ChessMasters 2026 reflects our commitment to building talents and communities, driving inclusion, and deepening engagement through our First@Sports initiative, a platform that celebrates talent and promotes social impact through sports. With over a century of supporting legacy sports in Nigeria, we are proud of our enduring partnerships – 105 years with the Georgian Cup, 65 years with the Lagos Amateur Golf Championship and 35 years with the Dala Hard Court Tennis Championship.”

Ijabiyi further highlighted how the sponsorship aligns with FirstBank’s sustainability pillars of Education, Health, and Welfare. “We recognise the potential of chess to help school-age children challenge themselves, think critically, and compete at the highest level, hence we see the tournament as a launchpad for a pan-African movement leveraging chess as a tool for education, empowerment, and leadership development. We are utilising this platform as another avenue to promote social impact and drive positive change in the community.”

Caline Chagoury Moudabar, Director and Co- Founder of ChessMasters and her partner Damilola Okonkwo of Key Academy, expressed appreciation for FirstBank’s support, noting that the partnership will help scale the impact of ChessMasters and inspire more schools to participate. “We are happy to welcome FirstBank on board. This collaboration will boost chess development in Nigeria and promote critical thinking among young minds. With support from partners like FirstBank, we are opening the doors of participation to more children and more schools in this year’s edition.”

Prince Adeyinka Adewole, Vice President of the Nigeria Chess Federation, commended the initiative, emphasising its role in nurturing future chess talents. “Chess connects people, ideas, and opportunities. It teaches children to be analytical, patient, and manage their time and resources effectively. Chess also improves concentration and has been particularly beneficial for children with autism.”

The second edition of ChessMasters will be held on Saturday, 2 May 2026 at Eko Hotels and Suites, Lagos. The competition is open to 150 schools across Lagos, with over 700 students expected to participate and vie for a total prize pool of N10 million.

FirstBank’s involvement in the 2026 edition of the tournament reinforces the potential of ChessMasters to become a launchpad for African children, leveraging chess as a tool for education, empowerment, and leadership development.

Business

Alpha Morgan Bank Reinforces Commitment to Education at Redeemer’s University Business School Commissioning

Published

2 days ago

April 7, 2026

Sahara Weekly

Alpha Morgan Bank Reinforces Commitment to Education at Redeemer’s University Business School Commissioning

Alpha Morgan Bank has reaffirmed its commitment to education and institutional development through its support for the commissioning of the Redeemer’s University Business School.

The Business School was officially inaugurated by Pastor (Mrs.) Folu Adeboye, at the commissioning ceremony attended by distinguished guests including Her Excellency, Mrs. Bola Obasanjo; the Pro-Chancellor and Chairman, Governing Council of Redeemers University, Professor Oluwatoyin Ogundipe; the Vice Chancellor, Professor Shadrach Olufemi Akindele; and other notable dignitaries.

Speaking at the event, the Managing Director of Alpha Morgan Bank reiterated the Bank’s commitment to supporting institutions that drive intellectual growth and national development.

As part of its broader focus on knowledge sharing and thought leadership, Alpha Morgan Bank will host its Economic Review Webinar in May 2026, bringing together experts to share insights on key economic trends and opportunities.
The Bank’s involvement reflects its continued dedication to empowering institutions and shaping the future of business and leadership in Nigeria.
Read more about Alpha Morgan Bank on www.alphamorganbank.com

PHOTO

L-R: Prof. Shadrach Olufemi Akindele, Vice Chancellor, Redeemers University, Engr. Eloka Eje, Dr Perez Araka, Pastor (Mrs) Folu Adeboye, Mother-In-Israel, The Redeemed Christian Church of God, Mr Ade Buraimo, MD/CEO Alpha Morgan Bank, Dr (Mrs) Oluwatomi Somefun, Dr. Simeon Ifere, at the inauguration of the Redeemer’s University Business School, Redemption City, Ogun State on Thursday 2nd April, 2026

Business

Tinubu Aide Rebuts Rufai Oseni Over ₦3.3tn Power Debt Deal

Published

2 days ago

April 7, 2026

Sahara Weekly

Otega Ogra: Online Misinformation Endangers Public Trust and Stability

Tinubu Aide Rebuts Rufai Oseni Over ₦3.3tn Power Debt Deal

The Presidency has strongly refuted allegations of “accounting fiction” and misinformation surrounding Nigeria’s ongoing power sector financial reforms.

O’tega Ogra, Senior Special Assistant to President Bola Ahmed Tinubu on Digital and New Media, took to social media to challenge comments made by Rufai Oseni, accusing the broadcaster of misrepresenting government efforts to resolve legacy debts in the electricity value chain.

At the heart of the dispute is the reconciliation of longstanding debts owed to Generation Companies (GenCos) and gas suppliers—an issue that has long constrained liquidity within Nigeria’s electricity market.

₦1.4 Trillion Reduction Explained

Responding to criticism over debt figures, Ogra clarified that total legacy obligations were reduced from ₦4.7 trillion in initial claims to a verified ₦3.3 trillion, representing a roughly 30% reduction.

“That is not spin. It is the difference between a claim and a verified obligation,” Ogra stated.

“In a regulated electricity market, submitted claims must be validated against contracts, market rules, and settlement records.”

Ogra also outlined tangible progress under the reform program, emphasizing that it has moved beyond “paper restructuring” to actual financial disbursements:

₦1.23 trillion structured under Phase I

₦501 billion already raised for the first series

₦223 billion disbursed to GenCos and gas suppliers

₦197 billion currently being processed

As of March 31, 2026, eight GenCos—covering 17 power plants—have signed settlement agreements totaling ₦2.28 trillion.

According to Ogra, the reform timeline, from President Tinubu’s July 2024 directive for a sector-wide review to Federal Executive Council approval in August 2025, demonstrates a deliberate push for transparency in a sector historically plagued by opacity.

“The real question is whether the final figure reflects verified contractual exposure. That is exactly what the review process was designed to achieve,” he said.

While defending the administration’s approach, Ogra acknowledged that clearing debts alone will not resolve Nigeria’s electricity challenges. He noted complementary reforms underway, including:

Tariff alignment based on service quality

Nationwide metering expansion

Improved payment discipline

Targeted subsidies for vulnerable citizens

In a pointed remark, he urged media commentators to distinguish between incomplete progress and misinformation:

“This is not the end of the problem, but it is a structured attempt to fix it.”

https://x.com/otegaogra/status/2041454199460839932