The Housing Development Advocacy Network (HDAN) has raised alarm over the proliferation of fake developers in the country who are particularly into the sale of land in the country.
The advocacy organization said that the sensitization became necessary following a series of complains it has received from various subscribers and victims who reported that they discovered that a number of lands bought from these developers have been greeted by problems such as false ownership, fake and inadequate documentations etc.
In a statement in Abuja, the Executive Director of HDAN, Festus Adebayo said that the company has vowed to release the list of these fraudulent real estate developers who have made it their stock-in-trade to swindle innocent and unsuspecting Nigerians from their hard-earned money through the purchase of these disputed lands and properties.
He said putting out this list will create awareness to the general public as to the real estate developers that should be avoided in the meantime.
Lamenting the damage that these fraudulent developers are causing in the sector, Adebayo said, “We can report to you that a lot of people in diaspora have fell victims to these developers. Therefore the need for the government to protect the interest of prospective foreign investors in the real estate industry cannot be over emphasized.
“We must do all we can to create an investment friendly environment in Nigeria. If we completely destroy the reputation of the country, we will all suffer the consequences.”
He also cautioned all estate developers to follow set guidelines, rules and regulations, while calling on the genuine ones not to sit idly by and watch the bad eggs amongst them ruin the sector.
He advised all prospective buyers of real estate properties, whether it be land or properties to do their due diligence by checking out the developers and agents, their documentations and registration before finalizing any deal.
The HDAN director also sounded a warning to the fake developers to settle with their victims within the shortest period of time before the organization releases the list it has compiled so far.
He also called on law enforcement agencies, particularly the Economic and Financial Crimes Commission (EFCC) to prosecute all land grabbers and fraudulent estate developers and agents in its custody to serve as a deterrent to their counterparts.
