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.
STOP LOSING MONEY IN LAGOS REAL ESTATE! Learn How to Verify Land Titles and Avoid Scams.
=> LandProperty.ng/free.
Let’s make your next investment a safe and successful one!
Business
Chinese investors establish $20m Lithium plant in Kwara with pharmaceutical plant underway
According to Sun, the company currently employs more than 300 workers, most of whom are indigenes of Kwara State.
Image: Lithium mineral
A Chinese firm, ER KANG Company Limited, has established a $20 million lithium processing factory in Kwara State.
ER KANG is also establishing a pharmaceutical manufacturing company in Kwara, valued at over $15 million, bringing the total Chinese investment in the state to approximately $35 million.
Team lead of the company, Sun Qing Rong, disclosed this in Ilorin during a meeting with Governor AbdulRahman AbdulRazaq on Wednesday.
He said the lithium plant is already operational and the investment is intended to prevent the export of raw minerals without processing.
Sun explained that the facility converts lithium into ready-to-use industrial materials, ensuring the mineral is processed locally rather than exported in its raw form.
He noted that the initiative aligns with government policies promoting value addition in the state.
According to Sun, the company currently employs more than 300 workers, most of whom are indigenes of Kwara State.
Business
NAFDAC misleads the Senate to ban sachet alcohol – MAN
Business is based on data and logic. Not sentiment. Data is key. Bring your data. Alcohol is not produced for children.
Photo by Ochefa / Ohibaba.com; 28 January 2026
The leadership of the Manufacturers Association of Nigeria (MAN), on Wednesday accused the nafdac to have misled the Senate to approve the ban on sachet alcohol and PET bottles.
The leadership of the association made the accusations on the occasion of the 10th edition MAN Media Personality Awards/ Presidential Media Luncheon, held in Lagos.
Francis Meshioye, the president of the association, and Segun Ajayi-Kadir, Director -General of MAN, emphasised that NAFDAC didn’t provide the Senate with empirical data showing the negative impacts of alcohol on children.
“Business is based on data and logic. Not sentiment. Data is key. Bring your data. Alcohol is not produced for children.
It is clearly written on the sacrhet it is for people 18+; the companies producing them have done the campaigns; they have NAFDAC numbers. So NAFDAC should do its job.
They misled the Senate they didn’t give enough information to the Senate,” said Ajayi – Kadir.
Meshioye urges the government to prevail on the regulator to suspend the ban, because, “When manufacturing thrives, Nigeria thrives..when manufacturing wins, government wins.”
Business
CBN grants Opay, Moniepoint, Kuda Palmpay and Paga national banks status
With national licenses, these FinTechs are subject to higher capital requirements, for example, N5 billion for national MFBs, and must maintain offices for dispute resolution while continuing to drive financial inclusion.
• CBN Governor Olayemi Cardoso
THE Central Bank of Nigeria (CBN) has upgraded the licenses of major FinTech companies and Microfinance Banks, including Opay and Moniepoint, to national status, allowing them to operate across the country following compliance with regulatory requirements.
The upgrade applies to key players such as Moniepoint MFB, Opay, Kuda Bank, Palmpay, and Paga, which have grown rapidly through mobile technology and agent networks, effectively outgrowing their previous regional licenses.
The Director of the Other Financial Institutions Supervision Department, Yemi Solaja, confirmed this development in Lagos at the annual conference of the Committee of Heads of Banks’ Operations,
He said: “Institutions like Moniepoint MFB, Opay, Kuda Bank, and others have now been upgraded. In practice, their operations are already nationwide.”
Solaja emphasized the importance of physical presence for customer support, noting “Most of their customers operate in the informal sector.
They need a clear point of contact if any issues arise.
”With national licenses, these FinTechs are subject to higher capital requirements, for example, N5 billion for national MFBs, and must maintain offices for dispute resolution while continuing to drive financial inclusion.
The reform follows previous enforcement actions, including 2024 penalties of N1 billion each on Moniepoint and Opay for KYC non-compliance, underscoring the CBN’s ongoing efforts to strengthen standards in digital finance
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