CFL Group Gives Lagos Land Registry Seven Days to Resolve Title Dispute

The Group Managing Director of CFL Group of Companies, Lai Omotola, has given the Lagos State Land Registry a seven-day ultimatum to address what he described as alleged falsification and manipulation of land documents, warning that affected property owners could seek N5 billion in damages through the courts.

Omotola issued the ultimatum during a press conference in Lagos on Thursday, where he raised concerns over what he described as a sophisticated form of land fraud known as “Land Title Laundry.”

According to him, the alleged practice involves cloning, manipulating and introducing fraudulent land documents into official records to create seemingly legitimate ownership titles over valuable properties.

He said the practice was particularly concerning in high-value areas such as Ikoyi and Victoria Island, where land and property prices are significantly higher.

Omotola alleged that the manipulation of land titles had continued in Lagos for years and that several financial institutions had allegedly accepted fraudulent Certificates of Occupancy as collateral for loans.

He said some banks only discovered the alleged irregularities after borrowers defaulted on the loans secured with the disputed properties.

The CFL Group boss recalled that during the administration of former Lagos State Governor Akinwunmi Ambode, the state government demolished a market opposite the Government House where, according to him, forged Certificates of Occupancy were allegedly being produced.

He, however, said the alleged practice had since become more sophisticated because of the financial interests involved and the alleged participation of individuals within and outside government.

How alleged land title manipulation works

Omotola alleged that the process typically begins with the identification of abandoned or disputed properties in prime locations such as Ikoyi and Victoria Island.

He said speculators could allegedly identify the name of a deceased prominent individual and use the identity to construct a fictitious chain of ownership for a property.

According to him, forged land certificates could then be produced, sometimes with dates going back several decades, before being introduced into the official land registry system.

Omotola alleged that once such documents were entered into the registry, they could appear to be genuine official records.

He further alleged that perpetrators could subsequently declare the supposed original document lost, obtain a police affidavit and use it to process a Governor’s Consent.

He said this could create the appearance that the property had been legitimately transferred to a new owner.

Omotola stressed that a Certificate of Occupancy and a Governor’s Consent are not the same document.

He explained that a Certificate of Occupancy represents the government’s grant of a title to land, while a Governor’s Consent is the approval given by the Governor for a transaction involving an existing interest in land.

He said obtaining a Governor’s Consent did not necessarily correct defects in the underlying title.

According to him, where an investigation subsequently establishes that the underlying documents were forged or obtained through misrepresentation, the consent could be cancelled.

Victoria Island property dispute

Omotola said his concerns were also based on a dispute involving a property at 24 Adeola Odeku Street, Victoria Island, which he said was purchased by his company.

He said CFL Group acquired the property and began construction before another company allegedly arrived with police officers and sealed the premises.

The other party allegedly claimed ownership based on a Governor’s Consent.

Omotola said the opposing party claimed that the original owner of the property was Samuel Oladele Ige, who allegedly sold it to the late Alhaji Ganiyu Amusan, the father of businessman Tayo Amusan.

He said CFL Group investigated the alleged ownership history and contacted members of Samuel Ige’s family.

According to Omotola, the family said Samuel Ige died in 2012, making it impossible for him to have personally sold the property in 2015.

He also said the family told the company that Ige’s will contained no indication that he owned the property at 24 Adeola Odeku Street.

Omotola said further investigations into the claim involving Alhaji Ganiyu Amusan also raised questions because Amusan died in 1994.

He argued that this meant Amusan could not have personally purchased the property in 2015, as allegedly stated in the disputed ownership history.

Disputed affidavit and registry records

Omotola said investigators also found a police affidavit allegedly sworn by Samuel Ige in 2015 declaring that his original land certificate had been lost.

He said Ige’s first son, Niyi, disputed the authenticity of the document, alleging that the photograph and signature appearing on the affidavit did not belong to his late father.

He further alleged that a letter of objection purportedly written by Samuel Ige before the Governor’s Consent was issued was received by the Land Registry on September 1, 2015.

Omotola said this raised further questions because Ige had died three years earlier.

According to him, the Ige family subsequently petitioned the Land Registry over the disputed documents.

He said the registry found sufficient merit in the complaint to invite beneficiaries of the disputed Governor’s Consent to proceedings that could result in the deregistration of the consent.

Omotola alleged that the beneficiaries failed to appear on two occasions.

He further alleged that construction continued on the property while the beneficiaries relied on security agencies.

Landowners demand correction of records

Omotola said the affected landowners were demanding that the disputed Governor’s Consent be deregistered and that the land records be corrected to reflect what they described as the legitimate ownership of the property.

He warned that if the Lagos State Land Registry failed to take action within seven days, the affected parties would approach the courts.

The proposed legal action, according to Omotola, would include a claim for N5 billion in damages.

He insisted that the affected landowners were not beneficiaries of any corruption within the land administration system.

Rather, he said they were seeking protection for properties they had legitimately acquired and accountability in the management of land records.

Omotola called on the Lagos State Government to investigate the alleged manipulation of land documents and strengthen the state’s land registry system.

He said stronger safeguards were needed to prevent fraudulent titles from being introduced into official records and subsequently used in property transactions and financial dealings.

The allegations made by Omotola concern specific property ownership and land documentation and remain matters for the relevant authorities and, if pursued, the courts to determine.

The post Lagos Land Title Dispute: CFL Group Gives Lagos Land Registry Seven Days to Resolve Title Dispute appeared first on Housing TV Africa.

Nigerian banks are tightening their lending standards as land and buildings—once considered the most reliable form of loan security—are now being classified as high-risk collateral.

The shift follows widespread demolitions, title revocations, and increased regulatory enforcement across several states, raising concerns about the stability of property-backed lending in the country.

For decades, lenders relied heavily on property documentation such as Certificates of Occupancy (C of O) and approved building plans as solid assurance for loan recovery. But recent events have exposed deep structural and regulatory vulnerabilities in the real estate ecosystem.

Industry analysts warn that the uncertainty surrounding property titles, coupled with stricter enforcement of urban planning laws, has created a level of unpredictability that now undermines the acceptability of real estate as collateral.

Title Problems and Regulatory Risks Fuel Bank Concerns

Experts estimate that nearly 70% of properties in Nigeria carry incomplete, disputed, or unverifiable documentation, making it increasingly difficult for banks to establish clear legal ownership. Without certainty, lenders cannot guarantee the recovery of assets when borrowers default.

Even when titles appear valid, many properties fail to meet building-permit or urban-planning standards. The spate of demolitions—often linked to unauthorized developments—has resulted in sudden loss of collateral value for both borrowers and lenders.

Financial institutions say this instability has raised major red flags about legal and regulatory exposure.

Valuation Gaps Complicate Lending

Banks and estate surveyors also report significant discrepancies between market valuations and the more conservative assessments applied by lenders. These gaps reduce the loan-to-value ratios banks are willing to approve, limiting how much credit borrowers can access.

Real estate liquidity is another challenge. In certain locations, properties take extended periods to sell, making recovery in default situations both slow and uncertain.

Impact on Borrowers and the Real Estate Market

The shift has wide-ranging implications for Nigeria’s credit ecosystem:

Tighter lending conditions: Banks are reducing exposure to property-backed loans and increasingly demanding additional collateral.

Mortgage bottlenecks: Access to home loans may decline, affecting middle-income Nigerians and slowing homeownership growth.

Shift toward alternative collateral: Lenders are exploring income-based lending and movable-asset financing to sustain credit flow.

Developer financing constraints: Real estate developers may face tougher loan approval processes, slowing project delivery.

Experts Call for Urgent Reforms

Stakeholders agree that restoring confidence in real estate as collateral will require sweeping reforms, including:

• comprehensive land registration and documentation,
• unified title verification systems,
• stricter enforcement of planning approvals,
• and improved valuation standards.

They warn that without meaningful reforms, the real estate sector’s potential to support Nigeria’s housing finance system and broader economic development will remain severely constrained.

The post Banks Reclassify Land and Buildings as High-Risk Collateral Amid Demolitions, Title Disputes appeared first on Housing TV Africa.

The Ekiti State Government has urged property owners with land or buildings within 50 meters on both sides of Airport Road, Ado-Ekiti, to present themselves for verification at the Bureau of Land Services.

The announcement, issued by the Special Adviser to the Governor on Lands, Surveys and Geographic Information System (eGIS), Professor James Olaleye, said the exercise is aimed at properly documenting affected landowners for future government action.

Owners are required to visit the Bureau of Land Services, located behind the House of Assembly Complex at the State Secretariat, on or before September 30, 2025.

The post Ekiti State Government Calls Airport Road Landowners for Verification Exercise appeared first on Housing TV Africa.