Oriontimes Newsroom| August 23, 2026
A former presidential aspirant, Chief CBN Onwuasoanya Ezendigbo, has expressed concern over what he described as the growing and unregulated activities of property agents across the country, warning that the trend is contributing to economic exploitation and social instability.
Speaking with journalists, Ezendigbo lamented the increasing number of individuals operating as agents in the sale of lands, houses and rental properties without proper verification of ownership or adequate regulatory oversight.
According to him, the absence of effective regulation has exposed both landlords and tenants to exploitation, while discouraging genuine investment in the housing sector.
“Almost everybody is now an agent selling land and houses without proper verification of ownership. People build houses and collect rent several years in advance, yet neither the landlord nor the tenant is adequately protected by the law,” he said.
Ezendigbo further alleged that multiple charges imposed during property transactions have become burdensome to Nigerians seeking accommodation.
“An agent collects 10 per cent, a lawyer collects another 10 per cent, while other intermediaries connected to the property also demand commissions. At the end of the day, investors struggle to recover their costs, especially those who borrowed money to build. This often leads to disputes that end up in court, while legal practitioners continue to earn from the conflicts,” he stated.
The former presidential hopeful noted that the country's economic challenges and limited opportunities have pushed many young people away from productive ventures and vocational skills.
He observed that the overdependence on politics as a source of livelihood has contributed to the rise of electoral violence in many parts of the country.
“People focus solely on making money from politics when there are other legitimate and clean businesses available. Many have no vocational skills or educational foundation, and this situation often degenerates into political thuggery, violence and even killings during elections,” Ezendigbo said.
He called on the government to strengthen the enforcement of existing regulations in the housing sector and introduce measures that would protect citizens from exploitation in the process of securing accommodation.
Ezendigbo stressed that effective regulation would not only restore confidence in the real estate sector but also encourage investment, reduce disputes and improve access to affordable housing for Nigerians.
0 Comments
Join the conversation!
Have insights, corrections, or questions about this news story? Drop your comment below. We value civil, fact-based discussion.