Somide made this known during an interview with journalists in Abeokuta on Friday.
According to him, land ownership remains one of the most valuable yet vulnerable forms of investment in Nigeria, as many investors continue to suffer losses arising from unclear ownership, government acquisition, fraudulent sellers and unresolved family claims.
He noted that such losses often surface months or years after payment, leading to prolonged disputes and financial setbacks.
Somide explained that in 2025, Nigeria Property Verification (NPV) played a critical role in reversing this trend by ensuring that investors committed funds only to properties with verified ownership, clear government status and minimal risk exposure.
He stressed that many affected buyers had relied on receipts, surface inspections or verbal assurances, which later proved unreliable.
He further disclosed that NPV operates on the principle that documents alone do not constitute proof of ownership.
In 2025, the organisation’s verification process focused on ownership confirmation, government status checks, dispute and risk assessment, as well as matching documents with physical land and official records.
Through this layered verification approach, NPV was able to identify high-risk properties before payments were made, enabling clients to cancel or renegotiate transactions and, in some cases, completely avoid purchases where the risks outweighed the value.
Somide revealed that internal reviews by the end of 2025 showed that NPV’s interventions prevented potential losses exceeding ₦800 million. These avoided losses, he said, came from transactions halted after red flags were discovered, deals renegotiated following verification findings, and outright abandoned purchases.
He added that accountability remains a core value of NPV, noting that the organisation stands by the accuracy and integrity of its verification outcomes in an industry often characterised by weak responsibility. This commitment, he said, has helped build client trust and positioned NPV as a credible authority in Nigeria’s property verification space.
Looking ahead, Somide emphasised that as land values continue to rise and transactions become more complex, professional property verification will remain essential.
He reaffirmed NPV’s commitment to protecting investors, promoting transparency and reducing avoidable losses in Nigeria’s real estate sector, guided by its core principle: Verify First. Cry Never.
“As land values continue to rise and transactions become more complex, the importance of professional property verification cannot be overstated. NPV remains committed to protecting investors, promoting transparency, and reducing avoidable losses in Nigeria’s real estate sector.
“Nigeria Property Verification is a property due-diligence and risk assessment service dedicated to helping individuals and investors make safe, informed land purchases in Nigeria.NPV’s core principle:Verify First. Cry Never” he said.
