The Federal Government of Nigeria has launched a portal to track and report fraudulent activities in the Real Estate Sector. The housing fraud reporting web-based platform is designed to enable citizens to report all incidents of fraud in the industry.
At the unveiling, the Ministry of Housing and Urban Development noted that the initiative is linked to the 2012 National Housing Policy aimed at putting in place firmer regulations for the housing industry. With the portal, Nigerians can now submit details and evidence of fraudulent activities in the Nigerian real estate sector.
The minister, Arc. Ahmed Musa Dangiwa explained that the fraud detection and reporting portal will help to achieve the goal of strengthening transparency in real estate transactions. He noted that it will also create an oversight of estate developers through certification and regulation under the authority of the Ministry.
“This will mean closer scrutiny of developers, tighter monitoring of real estate practices, and stronger enforcement against fraudulent actors”, he added.
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Dangiwa further affirmed that the portal provides a safe and transparent channel for Nigerians to report fraudulent practices, track cases, and help the government take decisive action against culprits. To implement the sanctions, the ministry is also working with appropriate law enforcement agencies such as the Economic and Financial Crimes Commission (EFCC).
“Our goal is simple: a housing sector where Nigerians can invest and own homes with confidence, free from fear of fraud. This is how we will protect our people, restore trust, and move closer to the vision of safe, decent and affordable housing for all,” he said.
While fraudulent practices are mostly linked to Ponzi schemes and cybercrime, fraud in the real estate industry is beginning to catch attention. With the fraud detection web-based platform, Nigerians can now submit complaints and evidence of such practices.
Rising fraudulent activities in Nigeria’s real estate sector
In its move to curtail the recent fraudulent trend in the real estate industry, the EFCC had placed a watch on the sector’s activity. The EFCC Spokesperson, Dele Oyewale, in July stated that the real estate sector could serve as a platform for money laundering and fraudulent activities.
He said the EFCC has placed suspected real estate firms under watch as it was aware that they could be fertile ground for money laundering. Reference was made to the court case of a real estate company, PWAN, which allegedly failed to allocate land to investors despite collecting payment from them.
“We are watching them, and we are insisting that they must comply with our laws. Real estate is a sector that is important to society, and we cannot allow it to operate on autopilot,” he said.
To curtail these practices, the Ministry of Housing and Urban Development is taking a bold step to expose these negative activities. The resulting end is to restore the industry’s image, boost investors’ confidence and protect Nigerians.
In furtherance of this pledge, the Ministry introduced the Contract Performance and Compliance Project Monitoring System (CPCPMS). This is an innovative application designed to strengthen projects’ monitoring and oversight, while improving service delivery to citizens.
Deputy Director and Head, Information and Communication Technology (ICT) Department, Dr. Marcus Amiolemen, stated that both the fraud detection platform and the CPCPMS are simple and user-friendly online tools.
According to him, the CPCPMS comes with several notable features, including a real-time dashboard and analytics module for easy visualisation of project data. It also has a contractor performance module guided by Key Performance Indicators (KPIs).
Another feature is mobile field reporting, which allows staff, engineers, and supervisors to upload photos and progress updates directly from project sites. The portal houses a centralised document repository that provides secure access to contracts’ payment certificates and Bills of Quantities (BoQs).
Amoilemen explained that the first step after receiving a complaint is to engage in a careful review. Moving on, the ministry will work closely with relevant stakeholders to ensure that proper investigations and actions are taken.
Both platforms further represent the ministry’s commitment to promoting transparency and accountability across the Nigerian real estate sector. It ensures that citizens are protected from sharp practices in the housing sector.