Real estate stakeholder urges fair investigation of complaints, transparency in property transactions and higher industry standards to rebuild public trust.
Olumide Bamgbelu, a real estate stakeholder and practitioner, has called on operators in Nigeria’s property sector to address client grievances, strengthen accountability and adopt more transparent business practices to restore public confidence in the industry.
In a statement titled “Nigeria’s Real Estate Industry Must Address Client Grievances and Rebuild Trust,” Bamgbelu expressed concern over reports of alleged deception, delayed property allocations, unfulfilled commitments and poor communication between developers and clients.
He noted that behind every complaint is a person who may have invested years of savings, retirement funds or resources intended to secure a home for their family.
Bamgbelu expressed sympathy for individuals who have experienced disappointment, financial loss or emotional distress arising from property transactions, stressing that their concerns deserve acknowledgement, attention and meaningful resolution.
According to him, protecting the reputation of the real estate industry must never take precedence over addressing legitimate complaints and holding responsible parties accountable.
However, he cautioned against the claim that 97 per cent of real estate companies are fraudulent, arguing that such a serious allegation requires credible and verifiable evidence to avoid unfairly discrediting responsible businesses alongside those accused of misconduct.
He maintained that rejecting unsupported generalisations does not invalidate the experiences of affected clients, adding that complaints should be investigated fairly and allegations assessed on their merits.
Bamgbelu also emphasised the need to distinguish deliberate deception from contractual disputes, operational failures and project delays, while noting that developers remain responsible for honest communication, contractual obligations and appropriate responses when commitments are not met.
On consumer protection, he advised prospective property buyers to conduct independent checks before committing funds. These should include verifying property ownership, the seller’s authority, survey details, relevant approvals, possible restrictions and disputes, as well as the developer’s track record.
He further urged buyers to insist on clear written agreements specifying the property being purchased, total costs, allocation and delivery timelines, infrastructure commitments, and provisions for delays, cancellations and refunds.
According to him, advertisements, endorsements and verbal assurances should never replace proper documentation, while payments should be traceable and payment instructions independently verified.
Bamgbelu stressed that although such precautions can reduce exposure to risk, they do not excuse dishonest conduct or transfer responsibility for wrongdoing from the offending party to the affected buyer.
He called on developers to strengthen their operational standards by ensuring they have the necessary authority to market properties, accurately disclosing the status of titles and approvals, and avoiding representations that suggest pending documentation has already been completed.
He also urged property companies to establish realistic delivery timelines based on funding, construction and approval requirements, alongside sound financial controls and proper records to support commitments made to buyers.
On customer relations, Bamgbelu said developers must provide timely and factual updates, particularly when project circumstances change. Where delays occur, he advised companies to explain the reasons, communicate the implications and outline practical steps towards resolution.
He added that real estate companies should maintain accessible complaints procedures, assign clear responsibility for resolving disputes and honour contractual remedies. Developers, he said, must also take responsibility for claims made by their agents, marketers and representatives.
While acknowledging the challenges of Nigeria’s business environment, Bamgbelu maintained that these difficulties cannot justify misrepresentation, unexplained silence or the avoidance of contractual obligations.
He called on industry practitioners to welcome scrutiny, improve internal processes and make client protection a central part of their operations, emphasising that rebuilding public confidence requires consistent and verifiable conduct.
“The way forward is to investigate allegations fairly, address legitimate complaints and insist on higher standards across the sector,” he said.
Bamgbelu concluded that trust in Nigeria’s real estate industry would grow when buyers could see that their money was handled responsibly, their questions received honest answers and the agreements they entered into were respected.
Ifeoma Okeke-Korieocha is the Aviation Correspondent at BusinessDay Media Limited, publishers of BusinessDay Newspapers. She is also the Deputy Editor, BusinessDay Weekender Magazine, the Saturday Weekend edition of BusinessDay. She holds a BSC in Mass Communication from the prestigious University of Nigeria, Nsukka and a Masters degree in Marketing at the University of Lagos. As the lead writer on the aviation desk, Ifeoma is responsible and in charge of the three weekly aviation and travel pages in BusinessDay and BDSunday. She also overseas and edits all pages of BusinessDay Saturday Weekender. She has written various investigative, features and news stories in aviation and business related issues and has been severally nominated for award in the category of Aviation Writer of the Year by the Nigeria Media Nite-Out awards; one of the Nigeria’s most prestigious media awards ceremonies. Ifeoma is a one-time winner of the prestigious Nigeria Media Merit Award under the 'Aviation Writer of the Year' Category. She is the 2025 Eloy Award winner under the Print Media Journalist category. She has undergone several journalism trainings by various prestigious organisations. Ifeoma is also a fellow of the Female Reporters Leadership Fellowship of the Wole Soyinka Centre for Investigative Journalism.
