Lagos, Nigeria’s bustling commercial hub, offers vast business opportunities. However, certain areas have gained notoriety for fraudulent activities, necessitating caution for entrepreneurs and investors. This article highlights specific locales in Lagos where vigilance is essential to mitigate the risk of scams. Eyes Of Lagos reports,
1. Festac Town
Festac Town has been associated with cybercrime activities, particularly advance-fee scams. The area contains numerous cyber cafés that have been reported to facilitate fraudulent operations.
Recommendation:
- Due Diligence: Conduct thorough background checks on potential business partners operating from Festac Town.
- Secure Communication: Use verified communication channels and be cautious of unsolicited business proposals.
2. Oluwole Market
Oluwole Market in Lagos Island has a history of forgery and the sale of counterfeit documents. Authorities have previously seized fake passports, boarding passes, and other fraudulent materials from this area.
Recommendation:
- Avoid Purchasing Documents: Refrain from buying official documents or certificates from this area.
- Verify Authenticity: Always verify the authenticity of any documents obtained from businesses operating here.
3. Badagry Axis (Oko Egan Area, Ilogbo Eremi)
Certain parts of Badagry, such as Oko Egan and Ilogbo Eremi, are known for land scams, including the sale of non-existent plots and fraudulent land titles.
Recommendation:
- Land Verification: Engage professionals to verify land titles and ownership before any transactions.
- Legal Consultation: Consult with real estate lawyers to ensure all dealings are legitimate.
4. Ajah (Off Unity Road, Cooperative Villa Badore)
Reports indicate that some individuals in this area attempt to resell land secretly, leading to disputes and financial losses for unsuspecting buyers.
Recommendation:
- Investigate Property History: Ensure thorough checks on property history to confirm rightful ownership.
- Avoid Cash Transactions: Use traceable payment methods and obtain receipts for all transactions.
5. Ikorodu
Ikorodu has been highlighted for land speculation scams, where fraudsters sell non-existent plots in supposed ‘upcoming’ areas, deceiving investors with fake development plans.
Recommendation:
- Site Inspection: Personally inspect any land before purchase.
- Seek Professional Advice: Engage real estate experts familiar with the Ikorodu area.
General Tips to Avoid Scams in Lagos
- Conduct Thorough Research: Investigate the reputation and legitimacy of businesses and individuals before engaging in transactions.
- Engage Local Experts: Utilize the services of local professionals, such as lawyers and real estate agents, who understand the Lagos business environment.
- Be Skeptical of Unsolicited Offers: Approach unsolicited business proposals with caution, especially those promising unusually high returns.
- Secure Transactions: Use official and traceable payment methods; avoid cash dealings when possible.
- Stay Informed: Keep abreast of common scam tactics and areas with high fraud prevalence to enhance personal vigilance.
By exercising due diligence and maintaining awareness of these high-risk areas, businesspersons can better protect themselves from scams and conduct safer transactions in Lagos.
