6d ago

Before You Buy Land in Nigeria, Watch This | The Complete Real Estate Guide

Every year, thousands of Nigerians lose millions of naira to real estate scams, fake land documents, government acquisition issues, Omo-onile disputes, and costly mistakes that could have been avoided. In this episode of Frankly Business, real estate expert Folajomi Ibrahim shares a practical guide to buying land and property in Nigeria the right way. From understanding a Deed of Assignment, Certificate of Occupancy (C of O), and government acquisition, to avoiding fake family claims, conducting due diligence, choosing the right professionals, and calculating construction costs, this conversation is packed with insights that could save you years of stress and millions of naira. Whether you’re buying your first plot of land, investing in Lagos real estate, building a home, or simply trying to understand how property ownership works in Nigeria, this is an episode you shouldn’t miss. In this episode, you’ll learn: Why a receipt does NOT prove you own land. The documents you must verify before buying property. How to avoid Omo-onile and land scams. What government acquisition really means. Why every buyer needs a surveyor, property lawyer, and qualified realtor. How to verify land ownership before paying. Why land disputes can last nearly a decade. The hidden costs of building in Lagos. How to estimate construction costs accurately. The smartest places to invest in Lagos today. If you found this conversation valuable, don’t forget to Like, Subscribe, and Share it with someone planning to buy land or invest in real estate. CHAPTERS 00:00 Introduction 00:37 Can You Buy Land With Only a Receipt in Nigeria? 00:46 What Documents Prove You Own Land in Nigeria? 01:11 Why Buying Waterfront Land in Lagos Can Be Risky 02:04 What Due Diligence Should You Do Before Buying Land? 02:20 Real-Life Land Scam: How My Father Bought the Same Property Three Times 03:22 What Are the Steps to Buying Property in Nigeria? 03:35 Why You Need a Professional Realtor Before Buying Land 04:39 What Is Government Acquisition Under the Land Use Act? 05:18 Why Every Land Buyer Needs a Registered Surveyor 05:53 Why Land Scams Increase During the Dry Season 07:00 Why You Need a Property Lawyer (Not Just Any Lawyer) 07:30 What Does a Property Lawyer Actually Do Before You Buy Land? 08:25 How I Almost Got Scammed Buying Property in Ikeja 10:04 Do All Children Have Equal Rights to Inherit Property in Nigeria? 11:13 The Two-Lock System That Protects Property Buyers 11:53 How Do You Know You're Buying Genuine Land? 12:15 Why Your Property Team Can Save You Millions 12:31 Should Your Realtor Represent Both Buyer and Seller? 13:42 How Experienced Investors Spot Risky Land Instantly 13:50 Which Areas in Lagos Are Risky for Buying Land? 14:53 What Is a Deed of Assignment and Why Is It Important? 15:58 Why Government Records Matter More Than Private Documents 17:27 What Happens If a Deed of Assignment Has No Governor's Consent? 18:29 Can Payment Receipts Alone Win a Land Dispute in Court? 18:56 Why Going to Court Over Land Can Cost You Years 19:10 How Long Do Land Cases Take in Nigeria? 20:33 What Is a Certificate of Occupancy (C of O)? 23:45 What Documents Do You Need to Process a C of O? 24:16 Why Every Property Must Have a History of Ownership 24:32 Why "Trust Me" Is the Biggest Mistake Land Buyers Make 25:02 Which Property Documents Actually Matter to the Government? 27:44 How Fraudsters Fake Family Ownership to Sell Land 28:29 How Fake Landowning Families Scam Buyers 28:40 The Newspaper Land Scam That Fooled Thousands 30:29 Can You Buy Land From a Traditional King? 31:52 What Approvals Do You Need Before Building in Lagos? 35:03 Why Lagos Tests Your Soil and Water Before Construction 36:22 Why Building Regulations Matter More Than You Think 36:46 Why Some Developers Continue Building After Government Sanctions 37:23 Why Lagos Residents Report Illegal Buildings 37:35 How Strict Is Lagos State Building Control? 37:49 What Happens If Your Building Fails Government Inspection? 49:45 The Golden Rule for Paying Money During Property Transactions 51:54 Where Are the Best Property Investment Opportunities on Lagos Mainland? 57:47 Why Lagos Mainland Property Can Be 20% Cheaper 58:27 How Much Does It Cost to Build a House in Lagos? 1:04:05 Why You Should Budget More Than Your Building Estimate 1:04:24 The Hidden Cost of Choosing Cheap Building Materials 1:06:19 Why Accountability Is Better Than Trust in Real Estate 1:06:37 What Real Estate Can Learn From International Accountability Systems 1:07:00 How Do You Calculate the Cost of Building a House? 1:11:13 Engineers vs Artisans: Who Should Build Your House? 1:15:27 How the Rising Dollar Increased Building Costs in Nigeria ⸻ Subscribe for more conversations on business, money, investing, entrepreneurship and the Nigerian economy. #RealEstate #Nigeria #PropertyInvestment #LagosRealEstate #LandScam #PropertyInNigeria #RealEstateNigeria #CertificateOfOccupancy #DeedOfAssignment #FranklyBusiness #FolajomiIbrahim #Investing #BusinessPodcast #Lagos #Construction

Jun 21

Japa Won’t Make You Rich — The Truth About Migration, Wealth & Nigeria’s Broken Investment System | Femi Rogers

Everybody wants to leave Nigeria. Japa. Escape. Start over abroad. But what if everything you believe about migration, wealth, and “the West as heaven” is wrong? In this episode of Frankly Business Podcast, serial entrepreneur and real estate developer Femi Rogers breaks down the uncomfortable truth about money, migration, and wealth creation across Nigeria and the United States. From building businesses across two continents to managing real estate investments in Houston and Lagos, Femi shares rare insights on why many people leave Nigeria expecting wealth… but struggle to build it abroad. We discuss: Why “Japa” does not automatically equal financial success The illusion of wealth vs real wealth creation Why many immigrants get trapped in debt cycles abroad Why diaspora investors don’t trust Nigeria’s investment system The transparency crisis in Nigerian real estate Why Nigeria struggles to attract foreign direct investment (FDI) How remittances from the diaspora are quietly sustaining the economy Why smart investors think differently about money, leverage, and credit Lessons from the Igbo apprenticeship system and early financial education The real valuation logic behind Nigerian real estate pricing Why no smart investor leaves money idle in the bank Femi also shares personal experiences: From employing over 100 staff in Nigeria… to starting again in America… to navigating real estate development across Houston and Lagos. This is not motivational talk. This is a reality check on wealth, systems, migration, and survival economics. If you are in the diaspora, planning to japa, investing in Nigeria, or trying to understand global wealth systems — this conversation will challenge your assumptions. ⸻ CHAPTERS 00:00 Trailer & Introduction 03:29 Is Japa Really Worth It For Nigerians? (The Harsh Reality) 06:32 What Is the Reality of Living and Working Abroad? 09:28 Why Immigrants Struggle Financially Abroad & The Tax Truth 12:32 How Do Rich People Use Debt and Credit Differently? 13:20 Buying Property in Nigeria: My First House in Wuse, Abuja 13:35 Real Estate Mistakes: The Story Behind My First Property Deal 21:58 Is It Easier to Make Money in Nigeria or Abroad? (ROI Compared) 27:05 Why Are Lagos Property Prices and Valuation So Unrealistic? 27:39 How Do You Calculate Property Value in Nigeria? 28:56 What Is a Good Cap Rate in Nigerian Real Estate? 30:23 Why is Nigerian Real Estate So Untransparent? (The Data Problem) 30:56 Why Do Sellers Wait to Sell Higher Than the Real Value? 31:37 How the US Property Market Submits and Tracks Real Prices 31:59 Why You Cannot Inflate Prices in Shrewd Data Markets 32:10 Why Don’t Diaspora Investors Trust Nigeria? 33:57 How to Verify Property Ownership in Nigeria (The Alausa Problem) 34:22 Are Remittances Better Than Foreign Direct Investment (FDI)? 34:50 Why Investors Avoid Nigerian Markets & Demand Transparency 35:06 How Can Nigerians Abroad Safely Invest Back Home? 35:44 What Are Nigeria’s Current Economic Reforms Doing? 36:21 Dealing with the Early Growing Pains of Economic Reform 39:08 How People Become Billionaires Daily in a "Bad" Economy 40:07 How Does Corruption Affect Investment in Nigeria? 40:25 Navigating the Reality of NNPC Allocations in the Past 40:47 Why Past Economic Opportunities Deprived Everyday Nigerians (Nigeria Economic Reforms) 42:10 What Is the Igbo Apprenticeship System & Money Management? 46:13 Why Do Successful Businessmen Think Differently About Banks? 50:34 How Savvy Operators are Globalizing Their Businesses 52:20 Why ₦1bn Builds 1 House in Nigeria But 5 Houses in the US 52:35 Making 30% Returns in Nigeria vs. 50% Returns Abroad 59:49 Why Do the Wealthiest People Always Invest in Real Estate? 1:03:37 How Does Lack of Transparency Affect Investment? 1:06:32 Buying Property Abroad: Getting a Deed in 3 Hours in the US 1:15:41 Building a Business with 100+ Staff: Mindset and Humility 1:26:26 How Do Successful Businessmen Think About Networking? 1:27:03 Starting Small: Moving From Furniture to Oil & Gas 1:27:24 How to Build Systems so Your Business Takes Care of Itself Subscribe for more conversations on money, business, and Africa’s economic future. Frankly Business Podcast

May 16 · Video

The Truth About Business, Power & Survival “Nigeria Should Structure Corruption” | Keji Giwa

What if corruption in Nigeria isn’t disappearing anytime soon… but simply becoming more organized? On this explosive episode of Frankly Business, Keji Giwa — founder of Shortlet.ng and Giwa Gardens — shares one of the most controversial business takes we’ve ever heard on the podcast: “Nigeria should structure corruption.” But that’s only the beginning. In this conversation, Keji breaks down: - Why the shortlet market is dying - Why Nigeria doesn’t truly have 200 million customers - How greed is damaging the real estate industry - Losing over ₦400 million to theft - The systems he built to stop internal fraud - Diaspora money and investment opportunities - Building West Africa’s largest water park - The future of tourism and leisure in Africa - The harsh realities of building businesses in Nigeria This episode is raw, honest, uncomfortable, insightful — and necessary. Whether you’re an entrepreneur, investor, founder, creative, or young African trying to understand how business really works in Nigeria… this conversation will challenge your thinking. TIMESTAMPS 00:00 Intro 03:04 Why The Shortlet Market is Dead 03:20 Why People Are Getting out of the Shortlet Market 03:56 Demand and Supply for Shortlet Market 04:15 Housing Deficit in Nigeria 04:30 Affordable Housing is a Myth 05:28 How I Built Shortlet.ng 05:55 How I Became The Godfather of Shortlet 06:00 Watch This Before Starting Shortlets or AirBnB in Nigeria or Africa 07:10 How Shortlet Started 11:25 I made $3k to $4k from 1 Shortlet Apartment in a Month 11:50 Get 20 Days Occupancy in Your Shortlet 12:00 Shortlet Started in Osapa London 12:30 Overpricing Killed The Shortlet Industry in Nigeria 12: 50 Hotels vs AirBnB and Shortlet 13:04 N800k per night Apartment in Lagos is too Expensive 15:42 Correction Phase of Real Estate in Nigeria - Real Estate Bubble Burst 17:45 Affordable Housing is the Job of The Govt 19:00 Affordable Housing is Impossible in Lagos 21:00 How To Build Affordable Homes 21:35 Housing Bubble in Nigeria 24:30 Nigeria has two Economies (Corruption Economy vs Market Economy) 25:30 Watch This Before Starting a Leisure Business 26:09 Know This Before Starting A Luxury Business in Nigeria 30:00 There is no Real Estate Bubble in Nigeria 31:25 Understanding The Economy of Corruption 32:25 How Politicians Launder Money with Real Estate 32:48 Why We need to Legalize Corruption in Nigeria 33:38 How My Staff Stole N400m from My Business 34:42 How I caught Staff Theft and The System That Works 37:00 How I Built Giwa Gardens 37:20 Doing Business in Nigeria 38:40 How To Stop Staff From Stealing From You 40:00 Systems for Staff Theft 44:30 Nigeria Doesn't have 200m Market we only have 200m people 45:30 Why They Need To Stop Giving VISAs to the Best of Nigerians 47:00 Is Ikoyi a slum 49:23 Why Corruption Should Be Legal in Nigeria 54:00 Dealing with Scarcity Mentality 56:30 $500 Diaspora Tax in Nigeria 58:32 Integrity is the Only Currency That Doesn't Depreciate 59:00 How To Get Money From Investors For Your Real Estate Project 1:01:40 Avoid Impatient Capital For Your Real Estate Project 1:02:00 Dealing With Press Crisis For Your Business 1:07:40 Detty/Dirty December Economy 1:09:45 How Three Crowns Milk Started 1:12:00 I Built Giwa Gardens For $30m Subscribe to Frankly Business for powerful conversations with Africa’s most ambitious founders, operators and business leaders. #FranklyBusiness #KejiGiwa #NigeriaBusiness

May 2 · Video

I Missed a 10,000x Startup… After Investing Early in Paystack | Abasiama Idaresit

In this episode of Frankly Business, I sit down with Abasiama Idaresit — one of Africa’s pioneering digital entrepreneurs, early-stage investor, and CEO of Wild Fusion Holdings. From launching one of Nigeria’s first digital marketing agencies in 2010 to investing early in companies like Paystack, Big Cabal Media, and Casava, Abasiama has been at the forefront of Africa’s tech and media evolution. But not every decision went right. He shares the story of a painful investment mistake — pulling out early from a startup that went on to deliver over 10,000x returns. We break down: * The early days of digital marketing in Africa * Building and scaling Wild Fusion across Nigeria, Ghana & Kenya * His transition from operator to investor * The biggest mistakes founders and investors make * How to identify real opportunities in Africa’s tech ecosystem * Lessons from backing companies like Paystack and Big Cabal This is a masterclass in business, investing, timing, and long-term thinking. If you’re building, investing, or thinking about Africa’s future — this episode is for you. ⸻ Subscribe for more conversations on business, finance & opportunity Follow Frankly Business Podcast for insights that actually matter

Jan 31

From Walmart to Wakanow: How Bayo Adedeji Is Fixing Africa’s Travel Problem | $50M Raised

From Walmart to Wakanow. In this episode, Bayo Adedeji, CEO of Wakanow, shares how he transitioned from working at Walmart to building one of Africa’s leading travel tech companies — raising over $50 million along the way. We also unpack why flights are expensive in Africa and what must change Why are flights so expensive in Africa — especially during Christmas and peak travel season? In this explosive conversation, Bayo Adedeji (CEO of Wakanow) breaks down the real economics behind African flight prices… and the journey that took Wakanow from near-collapse to a $50M global travel empire operating in 30+ countries. From Walmart to Wakanow, from selling shoes and fries, to leaving a $300,000 Amazon job, Bayo shares the brutal truth about: ✈️ Why African flights cost a premium How travel companies survive in tough markets ️ What it REALLY means to build in Africa Why “projecting poverty” kills investment deals Entrepreneurship vs intrapreneurship (and why both matter) How Wakanow rebuilt trust and scaled globally This episode is packed with hard-earned lessons on business, travel, money, customer behaviour, and the reality of surviving in Africa’s toughest industries. This… is Frankly Business. Where Africa’s biggest minds come to talk money, business, and the future. WATCH TILL THE END — every minute is pure gold. Chapters below Drop your thoughts in the comments — we read everything. ⸻ ⏱️ TIMESTAMPS (Clear, Searchable, SEO-Friendly) (If you want, I can refine these after seeing the exact runtime.) 00:00 — Intro: Africa’s Flight Crisis 01:42 — Why are African flights so expensive? 05:10 — The hidden economics of airlines in Africa 08:25 — Christmas & festive season: why prices skyrocket 11:02 — Wakanow’s early struggles and near-collapse 14:50 — Why Bayo left a $300K Amazon job 18:33 — From Walmart to Wakanow: the untold journey 21:40 — Selling shoes, fries & beach houses: the hustle story 25:55 — How Wakanow raised $50M and expanded to 30+ countries 30:11 — Entrepreneurship vs Intrapreneurship 33:08 — “Stop projecting poverty” — his viral investment philosophy 37:42 — Why African founders must think differently 41:15 — Customer behaviour: the truth nobody talks about 45:59 — Speed, execution, and decision-making 50:22 — Travel, tourism & the African opportunity 54:40 — Advice for young entrepreneurs and employees 59:10 — Final message: Build. Don’t beg.

Jan 31

She Raised $600k in 24 Hours — Here’s What Most Founders Get Wrong About Funding

Most founders think funding is about pitch decks. They’re wrong. In this episode, we sat down with Ife Durosinmi-Etti, Founder and CEO of Herconomy, to unpack how she raised $600,000 in 24 hours, attracted over $5 million in commitments, and what most founders misunderstand about funding. We talk about crowdfunding on Instagram, visibility and credibility, the real cost of running tech companies, and why only 4% of women globally have raised over $1 million. This conversation goes beyond motivation — it breaks down how community, problem-solving, and alignment with global challenges (SDGs) can unlock grants, capital, and long-term growth. Whether you’re a founder, entrepreneur, or building in Africa, this episode will change how you think about money, access, and opportunity. women entrepreneurship, startup funding, how founders raise money, women in business, venture capital, fundraising for startups, crowdfunding instagram, african startups, women founders, herconomy, ife durosinmi etti, franky business podcast, grants for startups, tech startups africa, gender funding gap, women led startups, how to raise capital, startup grants, community led startups, funding for women #StartupFunding #WomenInBusiness #Entrepreneurship #AfricanStartups #FranklyBusiness

Season 2, Episode 2 Trailer · Video

How Venture Capital Works in Africa: Funding, LPs & Startup Success Samson Esemuede

In this capsule of the Frankly Business Podcast, Samson Esemuede — founder of Zrosk Investment Ltd and one of Africa’s most exciting young investors — breaks down the truth behind venture capital, fundraising, and how investors actually make money. From how VCs raise capital, to who funds them, to why emerging markets need a new investment model, Samson Esemuede shares rare insights every founder and investor needs to hear. You’ll learn: • What venture capital really means • Where VC firms get their money • How they pick startups and manage risk • Why Nigeria needs a bespoke funding model • The lifecycle of a VC fund — from fundraising to exit • Lessons from Samson’s own investing journey: Lafarge, Nord Motors, LemFi, Max.ng & more This is the conversation every African builder, founder and dreamer needs to watch. Watch till the end — it might change how you think about money, risk and opportunity. ⸻ ✨ ABOUT FRANKLY BUSINESS PODCAST Frankly Business is Africa’s fastest-growing business and investment storytelling platform, bringing honest conversations from leaders shaping the future.

Jan 10

The Truth About Why Investors Are Pouring Billions Into Africa—From the CFA Betting $Millions+ On It

Samson Esemuede, CFA, is one of Africa’s most respected investment minds. He began his career at CitiBank and Deutsche Bank, rising to the position of Vice President, before becoming a founding partner at Zrosk Investment Management, a firm now managing north of $100+ million AUM. In this exclusive 130-minute conversation, Samson and Frank dive into: Topics Covered • The real state of the Nigerian economy • Why investors are betting billions on African startups • China’s economic slowdown and its implications • The secrets behind successful venture capital • The psychology of wealth and the habits of elite investors • What determines “luck” — and how to increase your opportunity surface area • A deep breakdown of equities, capital markets, and investment cycles Samson’s investments include: LemFi, MAX.ng, Nord Motors, Lafarge, and several of Africa’s fastest-growing ventures. This episode is a masterclass for founders, investors, analysts, and entrepreneurs who want to understand Africa’s economic future. * Africa economy * Nigerian investment * Samson Esemuede * Zrosk investment * venture capital Africa * startup funding 2024 * Nigerian stock market * China slowdown Africa * Frankly Business Podcast * Frontier Business Podcast

Frankly Business Podcast

Before You Buy Land in Nigeria, Watch This | The Complete Real Estate Guide

Japa Won’t Make You Rich — The Truth About Migration, Wealth & Nigeria’s Broken Investment System | Femi Rogers

The Truth About Business, Power & Survival “Nigeria Should Structure Corruption” | Keji Giwa

I Missed a 10,000x Startup… After Investing Early in Paystack | Abasiama Idaresit

From Walmart to Wakanow: How Bayo Adedeji Is Fixing Africa’s Travel Problem | $50M Raised

She Raised $600k in 24 Hours — Here’s What Most Founders Get Wrong About Funding

How Venture Capital Works in Africa: Funding, LPs & Startup Success Samson Esemuede

The Truth About Why Investors Are Pouring Billions Into Africa—From the CFA Betting $Millions+ On It

Trailer

How Venture Capital Works in Africa: Funding, LPs & Startup Success Samson Esemuede

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Frankly Business Podcast

Episodes

Before You Buy Land in Nigeria, Watch This | The Complete Real Estate Guide

Japa Won’t Make You Rich — The Truth About Migration, Wealth & Nigeria’s Broken Investment System | Femi Rogers

The Truth About Business, Power & Survival “Nigeria Should Structure Corruption” | Keji Giwa

I Missed a 10,000x Startup… After Investing Early in Paystack | Abasiama Idaresit

From Walmart to Wakanow: How Bayo Adedeji Is Fixing Africa’s Travel Problem | $50M Raised

She Raised $600k in 24 Hours — Here’s What Most Founders Get Wrong About Funding

How Venture Capital Works in Africa: Funding, LPs & Startup Success Samson Esemuede

The Truth About Why Investors Are Pouring Billions Into Africa—From the CFA Betting $Millions+ On It

Trailer

About

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