IMPORTANT NOTICE

The Lagos State Lands Bureau has warned mortgage institutions, security agencies and members of the public about the increasing number of cloned/forged Lagos State Government Certificate of Occupancy in circulation that are being presented to secure credit facilities from banks and other financial institutions. According to a Press Release signed by the Bureau PRO, Moshood Adebisi (08023700014) and made available to CASTLES, the Bureau warned that a cartel of fraudsters who specialize in cloning and forging Certificates of Occupancy for use in obtaining loans from banks and other credit finance organizations are behind the nefarious activities. The fraudsters have devised means of perpetrating such fraud through third party Legal Mortgages which is executed without a guarantor having to appear in person.

Following this state of affairs, financial institutions and banks are advised to always ensure due diligence in investigating all title documents presented by parties and individuals who are not the direct owners. This is because the fraudsters usually present Certificates of Occupancy over landed properties purportedly owned by other parties or individuals as collateral. Accordingly, the Lagos State Lands Registry should always be contacted for searches and verification to ascertain the authenticity of land title documents when in doubt. However, the official launching of the new e-Certificates of Occupancy will soon take effect.