Business
Why Is Due Diligence Important in Real Estate?
It’s not enough to trust a seller or rely on promises. You have to investigate every detail before committing to a property.
By Dennis Isong
In September 2023, I received a call from Tunde, one of my YouTube subscribers.
He said, “Dennis, I’ve been following your videos for nine months. I wish I had called you earlier.
His voice sounded heavy, and I could tell something was wrong.
Tunde shared his story. A few months earlier, he had found a piece of land in Sangotedo.
It was near a proposed shopping mall, and the seller promised him the price would double in a few years.
Excited by the opportunity, Tunde quickly paid a deposit and began making big plans for the land. But his excitement didn’t last long.
Two months after making the payment, Tunde discovered that the land was under government acquisition. It couldn’t be sold or developed legally.
The seller, who had been so convincing, had disappeared. Tunde lost his money and his dream.
He called me to share his heartbreak and said, “Dennis, if only I had known. Is there anything I could have done to avoid this?”
Tunde’s story is a painful reminder of the dangers of skipping due diligence.
It’s not enough to trust a seller or rely on promises. You have to investigate every detail before committing to a property.
What is Due Diligence?
Due diligence is the process of carefully checking a property before you buy it. It’s like a safety net that protects your money and your dreams. When you do due diligence, you:
● Confirm the seller owns the property.
● Check if the land is free from government acquisition or disputes.
● Verify that the property meets all legal requirements. Tunde skipped this step, and it cost him everything.
Why Due Diligence Matters
1. To Avoid Legal Problems
Imagine buying land, only to find out it belongs to the government or someone else. You could lose your money and face years of legal battles. Due diligence helps you: – Confirm ownership. – Avoid family or land disputes. – Ensure the land is safe to buy.
2. To Protect Your Money
Real estate is expensive, and losing your investment can be devastating. Without due diligence, you could: – Buy land already sold to others. – Purchase property with hidden issues like unpaid taxes. – Overpay for land that’s not worth the price.
3. To Avoid Regret
Tunde now regrets rushing into his purchase without asking the right questions or verifying the seller’s claims. His story shows how skipping due diligence can lead to heartbreak.
Learn From Tunde’s Experience
Tunde’s mistake isn’t uncommon. Many people rush into buying land without checking the details.
But real estate is a serious investment, and taking shortcuts can lead to financial and emotional pain. What Can You Do to Protect Yourself? Before buying land, always:
1. Verify ownership: Check the property’s title and ownership.
2. Investigate the land’s status: Ensure it’s not under government acquisition or involved in disputes.
3. Work with professionals: Hire a lawyer or real estate expert to guide you.
Your Investment Deserves Protection
Tunde’s story is a hard lesson, but it’s one we can all learn from. Don’t let excitement or urgency make you skip due diligence.
Take your time, do the research, and ask for help. In real estate, it’s better to be safe than sorry.
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Business
NAFDAC Seals 18 Warehouses Over Expired Products in Niger State
According to NAFDAC, about 80,000 packets of expired non-alcoholic drinks, 5,000 packets of dairy milk, 16,000 packets of bottled water, 28 cartons of pasta and other assorted expired products were uncovered during the operation.
Photo: Expired beverages ; Credit: NAFDAC
The National Agency for Food and Drug Administration and Control (NAFDAC) has sealed no fewer than 18 warehouses in Bida, Niger State, following the discovery of large quantities of expired food and beverage products valued at over ₦100 million.
The warehouses, located around Ndazabo White House along Minna Road and behind Bida Modern Market, were shut after NAFDAC’s Investigation and Enforcement team acted on credible intelligence.
Items recovered during the raid included expired non-alcoholic beverages, dairy milk, candies, bottled water and pasta, some of which were already packaged for distribution.
According to NAFDAC, about 80,000 packets of expired non-alcoholic drinks, 5,000 packets of dairy milk, 16,000 packets of bottled water, 28 cartons of pasta and other assorted expired products were uncovered during the operation.
Managers of the affected warehouses were arrested for interrogation, during which preliminary findings linked the facilities to a company identified as BY Ventures.
This prompted NAFDAC officials to extend their operation to supermarkets owned by the company in Minna, where additional expired products and counterfeit Goya oil were allegedly found.
Both supermarkets were subsequently sealed, while the Managing Director of the company, Alhaji Yusuf Nadabo, was invited for further questioning.
The agency said that he admitted ownership of the expired products during interrogation.
NAFDAC stated that investigations are ongoing and that appropriate regulatory sanctions would be imposed at the conclusion of the process to serve as a deterrent to others.
Business
Wema Bank Announces Grand Event for International Women’s Day 2026 on March 4
Wema Bank, Nigeria’s oldest indigenous financial institution and pioneer of Africa’s first fully digital bank, ALAT, has announced it will host its highly anticipated 2026 International Women’s Day (IWD) Grand Event on Tuesday, March 4, 2026.
The event, described by the bank as the industry’s biggest celebration of its kind, aligns with the global IWD 2026 theme “Give To Gain.” Wema Bank has adopted the sub-theme “When Women Gain, We Grow,” emphasizing the transformative impact of supporting and investing in women across personal, professional, and societal levels.
According to Managing Director/CEO Moruf Oseni, the initiative underscores the bank’s long-standing commitment to women’s empowerment and gender inclusion, in line with United Nations Sustainable Development Goal 5.
Through its women-focused proposition, SARA by Wema (launched in 2019), the institution has consistently championed programs like SARA Gives and the Big Sister Graduation Challenge to uplift women at every stage.
The March 4 event is expected to feature keynote addresses, fireside chats, panel discussions, networking sessions, and opportunities to convene top women leaders from diverse industries alongside everyday women navigating their paths to success.
It aims to foster actionable conversations on empowerment, leadership, and collective growth.
Registration is now open via the official portal at wemabank.com/iwd, with the bank encouraging early participation to secure spots.
This announcement builds on Wema Bank’s history of impactful IWD celebrations and reinforces its dedication to promoting gender equality and women’s advancement in Nigeria and beyond.
Further details on the venue, speakers, and full agenda are expected to be released in the coming weeks.
Business
Dangote expands daughters’ roles as succession plan accelerates
Mariya Dangote, who joined the board of Dangote Cement last July following her father’s retirement as chairman, will now oversee commercial strategy for the cement business.
• Aliko Dangote and his daughters
Aliko Dangote, Africa’s richest man, has assigned expanded leadership roles to his three daughters as part of preparations for the future of his industrial conglomerate, which he aims to grow into a $100 billion business within the next four years.
According to Business Day, an internal memo confirmed by a company spokesperson, Halima, Fatima and Mariya Dangote will take on broader responsibilities across key divisions of the Dangote Group, signalling a deliberate shift towards the next generation.
Fatima Dangote, the youngest, will assume a senior commercial role within the group’s energy division, which includes its Lagos-based oil refinery.
She will continue to oversee corporate communications and administration for the wider group.
Halima Dangote, who currently manages the family office in Dubai, will extend her oversight to its London operations while supporting the company’s international expansion efforts.
Mariya Dangote, who joined the board of Dangote Cement last July following her father’s retirement as chairman, will now oversee commercial strategy for the cement business.
She will also take on responsibility for shaping strategy across the group’s food operations in all markets.
In the memo, the company said that the appointments were intended to “empower a new generation to take on expanded responsibilities in shaping our future.
”The changes mark a clear step in Dangote’s succession planning, transferring more operational authority to his daughters while he retains overall strategic control.
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