Dr. Mbamalu Valentine, the Group Managing Director of TOV Homes, has said that the company is determined to address the lingering problems of land fraud, poor documentation and insecurity in Nigeria’s real estate sector through proper title verification, public sensitisation and flexible housing initiatives.
Dr. Valentine, who is also a lawyer and entrepreneur, disclosed this during an interview following the launch of the company’s newest estate project, “Plus Lagos,” situated in Abijo GRA, Lagos.
TOV Homes is the real estate arm of TOV Group Limited, which recently acquired Abijo GRA with a government allocation title. The newly launched “Plus Lagos” estate has been approved for both residential and commercial purposes.
Speaking on the challenges confronting the Nigerian real estate sector, Dr. Valentine identified poor land documentation and fraudulent transactions as major issues discouraging many Nigerians from investing in property.
According to him, his experience as a legal practitioner exposed him to several cases involving land disputes and multiple ownership claims, which often leave unsuspecting buyers stranded after making huge financial commitments.
“As a lawyer, I have seen so many cases involving land litigation in Nigeria and how people fall victims to different schemes from fraudulent individuals. We have therefore decided in TOV Homes to focus more on the issue of land title documents because ownership begins with proper documentation,” he said.
He stressed that many Nigerians fail to understand that the foundation of any property investment lies in the legitimacy of its title documents, adding that any mistake made at that stage could lead to years of litigation and financial losses.
“Without having a proper land title document and understanding what it implies to any buyer, we will continue to have problems in the real estate sector. Once you get the title wrong, you have already gotten everything wrong,” he added.
To address the problem, Dr. Valentine said TOV Homes has embarked on public enlightenment programmes aimed at educating Nigerians on the importance of engaging legal professionals before purchasing landed properties.
According to him, the company organises quarterly training and sensitisation programmes where members of the public are educated on documentation processes, title verification and the dangers of buying land without proper legal guidance.
“A lot of people think they can just wake up and buy property without proper verification. But you need a lawyer in everything you do. Lawyers guide you and help you verify the authenticity of documents before payment is made,” he stated.
He explained that legal fees attached to property verification are insignificant when compared to the financial and emotional losses that often arise from fraudulent land transactions.
“No lawyer charges above what you are buying. Some may take between 5 and 10 per cent, while others may simply charge a verification fee just to help you confirm the authenticity of the property before you proceed,” he said.
On the issue of “Omonile” activities in Lagos State, Dr. Valentine maintained that reputable estate developers usually settle such issues before introducing projects to the market.
He noted that one of the major reasons many Nigerians prefer buying properties within estates is to avoid harassment from land grabbers and local land agents popularly known as “Omonile”.
“Why people buy into estates is to avoid “Omonile” problems. It is the responsibility of the estate developers to resolve those issues before selling land to clients. Buyers are not expected to face “Omonile” harassment after purchase,” he explained.
According to him, TOV Homes has already resolved all related issues concerning the newly launched estate, assuring prospective buyers that they would not encounter disputes involving land agents or traditional lando
