The Federal Ministry Housing and Urban Development has forged an alliance with the Economic and Financial Crimes Commission (EFCC) to ensure accountability in the real estate sector, protection of the rights and investments of Nigerians.
Under the alliance, the ministry will establish a platform to monitor and detect instances of housing fraud perpetrated by dubious developers. The proposed platform will provide a user-friendly online interface for Nigerians to report incidents of housing fraud.
Users submit complaints, provide evidence, and share relevant information about fraudulent practices anonymously or with their identity disclosed, depending on their preference.
The online platform will collect, analyse, and categorise reported cases of housing fraud. It will gather information such as location, developer details, type of fraud, and evidence provided by victims of housing fraud. This data will help identify patterns, trends, and hotspots of fraudulent activities in the real estate sector.
The platform will operate within the existing legal framework governing the real estate sector. It will support legal actions against fraudulent developers by providing evidence and support to law enforcement agencies and regulatory bodies.
By implementing the Housing Fraud Detection and Monitoring Platform, the Ministry aims to curtail housing fraud, ensure there are legal consequences for fraudulent developers, promote transparency, and safeguard the interests of Nigerians in the real estate market.
“We aim to protect the rights and investments of Nigerians by creating a transparent and accountable system. Using the platform, we will empower Nigerians with a transparent tool to report dubious developers and work in collaboration with the Economic and Financial Crimes Commission (EFCC) to investigate reported cases of housing fraud,” according to the Minister of Housing and Urban Development, Ahmed Dangiwa.
“For those who collect money from beneficiaries and, at the end of the day, fail to deliver and dupe ordinary Nigerians who simply want a decent place to call home, the law will soon catch up with you. Stop doing it because the days are over for such practices,” he said.
He noted that Nigerians have been victims of unscrupulous elements in the built environment for far too long, stressing that such practices amount to financial crimes.
“When you go into a contract with a subscriber to build XYZ with certain features, and at the end of the day, you renege on that agreement, which amounts to a breach of contract. Some will collect the money and abscond with it; that’s extortion by false pretense and these are financial crimes,” he said.
