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By Gabriel Ameh
Growing incidents of property fraud across Nigeria have continued to inflict heavy financial losses on investors, with forged land documents, disputed ownership claims, and multiple sales of the same property emerging as major threats to confidence in the real estate sector.
The persistent challenge has prompted the launch of AmariPay, a technology-driven trust infrastructure platform designed to improve transparency and security in property transactions.
Speaking during an interactive session with journalists in Abuja, the Founder of AmariPay, Dr. Charles Joseph, said the platform was established in response to the widespread fraud that has discouraged many Nigerians, particularly those in the diaspora, from investing in real estate.
According to him, the initiative was inspired by personal experiences and growing concerns over the increasing number of investors who have lost significant sums of money through fraudulent property transactions.
The company’s Chief Technology Officer, Engr. Eval Esege, explained that property fraud remains one of the biggest obstacles facing Nigeria’s real estate market.
He noted that cases involving multiple sales of a single property, falsified ownership records, hidden encumbrances, and disputed titles have continued to undermine investor confidence.
“Many investors have lost confidence because of the level of fraud in the system. Some individuals purchase land only to discover that it has already been sold to several other buyers. In some cases, properties have existing legal or financial obligations that were never disclosed to the purchaser,” he said.
Real Estate Sector Faces Trust Deficit
Nigeria’s real estate industry has long struggled with allegations of land grabbing, fake title documents, impersonation, and ownership disputes.
For many Nigerians living abroad, concerns over fraud have become a major barrier to investing in property back home despite growing opportunities in the housing sector.
Industry stakeholders estimate that property-related fraud has resulted in losses worth hundreds of millions of naira over the years, although experts believe the actual figure may be significantly higher due to underreporting and unresolved disputes.
AmariPay believes rebuilding trust through technology and verification systems is critical to unlocking greater investment in the sector.
Escrow-Based Protection for Property Transactions
To address these concerns, the platform has introduced an escrow payment system designed to protect both buyers and sellers throughout the transaction process.
Under the arrangement, funds deposited by buyers remain secured until all agreed conditions are met and transaction requirements are successfully verified.
The company said identity checks, transaction verification, and document reviews are conducted before payments are released, reducing the risk of fraud and disputes.
Officials stressed that customer funds are managed through licensed banking and payment partners rather than being directly controlled by the platform.
The system also provides digital tracking and audit trails, enabling users to monitor every stage of a transaction.
Strengthening Property Ownership Verification
A major challenge in Nigeria’s land administration system is the absence of formal title documents for many property owners, particularly in areas where customary ownership records are commonly used.
Addressing this concern, AmariPay said its verification process extends beyond Certificates of Occupancy and includes the examination of ownership histories, supporting documents, allocation records, receipts, and other available evidence.
Company officials acknowledged that land documentation remains a complex issue but maintained that comprehensive verification procedures can significantly reduce the likelihood of fraudulent transactions.
Deploying Technology Against Identity Fraud
Beyond property verification, the platform said it is leveraging advanced identity authentication tools to combat impersonation and document fraud.
Users are required to complete Know Your Customer (KYC) and Know Your Business (KYB) verification processes using government-issued identification, National Identification Numbers (NIN), biometric validation, geolocation checks, and live-video authentication.
According to the company, these measures are intended to prevent the use of fake identities, forged documents, and unauthorized accounts during transactions.
Focus on Diaspora Investors
The founders believe the platform could provide significant value to Nigerians in the diaspora, many of whom remain reluctant to invest in property due to concerns about fraud and lack of transparency.
They argued that technology-driven trust mechanisms can help bridge the confidence gap and encourage more diaspora participation in Nigeria’s real estate market.
“Trust is the foundation of every transaction. When investors are confident that their funds and assets are protected, they are more willing to invest,” a company representative stated.
Regulatory Compliance
AmariPay said it is registered with the Corporate Affairs Commission (CAC) and operates within existing regulatory frameworks, including anti-money laundering and financial compliance requirements.
The company added that it currently works with licensed financial institutions and payment service providers while exploring additional regulatory approvals to support future expansion.
As concerns over property fraud continue to grow across Nigeria, industry observers say solutions that strengthen transparency, verification, and accountability could play an important role in reducing disputes and restoring confidence in the country’s real estate sector.
