NiDCOM Warns Diaspora Investors Against Unverified Property Deals
By Pan Afric Reporters
The Nigerians in Diaspora Commission (NiDCOM) has cautioned Nigerians living abroad against falling victim to fraudulent real estate transactions, urging them to verify property titles and deal with licensed mortgage institutions before committing funds to property investments in Nigeria.
The warning was contained in a press statement issued by Abdur-Rahman Balogun, Head of Media, Public Relations and Protocols Unit of NiDCOM, Abuja, following a panel discussion on infrastructure investment during the second day of the 9th Nigeria Diaspora Investment Summit (NDIS) 2026 on November 11. The summit was themed “Bridging the Trust Gap: Connecting Diaspora Capital with Credible Home-based Opportunities.”
Speaking on the Commission’s interventions to protect diaspora investors, NiDCOM Acting Secretary, Hon. Abdulrahman Terab, disclosed that the agency had established a dedicated desk in collaboration with the Economic and Financial Crimes Commission (EFCC) about five years ago to address fraud cases, particularly those involving real estate transactions.
Terab said the initiative had handled several complaints, with many Nigerians benefiting from the intervention and recovering their investments.
He explained that NiDCOM regularly receives petitions from Nigerians abroad who encounter difficulties with property transactions and follows up on such complaints through appropriate channels.
The Acting Secretary also disclosed that the Commission, in collaboration with First Bank, had established a housing platform designed to provide Nigerians in the diaspora with a more secure and dependable pathway to homeownership.
According to him, the initiative seeks to ensure that investors obtain value for their money while accessing credible housing opportunities.
Terab further welcomed moves by the National Assembly, involving both the Senate and the House of Representatives, to establish a National Real Estate Regulatory Agency, describing the proposed legislation as a response to longstanding concerns over inadequate regulation and oversight in the sector.
Also speaking, the Executive Director and Chief Executive Officer of AG Mortgage Bank, Dr. Ojonimi Simon Ogwu, identified the difficulty in distinguishing genuine mortgage institutions from ordinary property developers as a major challenge confronting Nigeria’s real estate market.
He warned that many Nigerians abroad mistake property development companies with attractive signboards and strong online visibility for established mortgage institutions, exposing them to fraudulent transactions and significant financial losses.
Ogwu stressed the importance of comprehensive due diligence before property acquisition, noting that an attractive building or strategic location does not automatically guarantee legitimate ownership.
He advised prospective investors to insist on proper title verification, confirmation of ownership, relevant government approvals and compliance with applicable land regulations, including the Land Use Act.
The mortgage expert also highlighted the prevalence of family land disputes, particularly in Lagos, where buyers sometimes acquire properties from individuals claiming to represent entire families, only to face competing ownership claims after payment.
He therefore urged Nigerians in the diaspora to patronise recognised mortgage institutions and professional channels rather than relying solely on property developers or informal recommendations from friends and relatives.
In a separate contribution, the Principal Partner and Chief Executive Officer of Afrique Capital and Equity Funds Limited (ACEFUNDS), Dr. Kazeem Bello, advocated innovative financing structures that would enable Nigerians at home and abroad to pool resources for credible projects.
Bello identified crowdfunding as a viable mechanism for widening access to capital, particularly for young and emerging entrepreneurs, stressing that successful fundraising requires commitment, a well-structured business model and credible investment proposals.
He noted that the informal nature and inadequate business structures of many small enterprises in Nigeria continue to limit their access to institutional financing.
Bello also disclosed that efforts were underway to develop a global crowdfunding initiative in collaboration with NDIS and relevant partners, aimed at creating a centralised platform for pooling diaspora contributions into viable projects.
He explained that the initiative would incorporate training, mentorship and capacity-building to prepare entrepreneurs to attract investment and build sustainable businesses.
The Director of Planning, Research and Strategy at the Infrastructure Concession Regulatory Commission (ICRC), Akwu Okolo, stressed the need for institutional credibility, transparency and accountability to address the trust deficit surrounding diaspora investments in public and private-sector infrastructure projects.
Similarly, the Head of Coronation Infrastructure Fund, Mayowa Ikotun, highlighted regulatory safeguards available to investors in infrastructure funds, explaining that fund managers operate under the oversight of the Securities and Exchange Commission (SEC), while trustees and custodians provide independent monitoring and asset protection.
Ikotun said infrastructure funds offer organised investment platforms through which individuals and institutional investors can pool resources to finance projects in transportation, real estate, energy and social infrastructure.
He maintained that such structures could help address Nigeria’s infrastructure deficit while reducing the burden on individual investors to independently assess every project.
The summit also featured a panel discussion on regulatory frameworks involving the Presidential Enabling Business Environment Council (PEBEC), represented by its Director-General, Princess Zahrah Mustapha Audu, and Kachi Okezie, Principal Consultant at CTP International, United Kingdom.
The discussions underscored the need for stronger regulatory institutions, credible investment platforms and effective investor protection mechanisms to unlock diaspora capital for Nigeria’s economic development.
