The Institute of Mortgage Brokers and Lenders of Nigeria (IMBLN) has issued a warning to Nigerians to beware of fake estate agents when purchasing or renting properties. 
IMBLN President Hayatuddeen Awwal emphasized that many individuals pose as estate agents, conducting transactions worth millions or even billions of naira without paying taxes. This has led to 80% of the police cases in Abuja being land-related.

To combat this issue, IMBLN is working to sanitize the housing sector and enforce qualifications and certifications for estate agents. They have also collaborated with the Nigerian Financial Intelligence Unit, ICPC, and EFCC to tackle the problem.

Nigeria faces a significant housing deficit of 28 million, but sanitizing the sector could unlock opportunities worth 420 billion naira. IMBLN aims to provide Nigerians with confidence in their property dealings, whether it's rentals, purchases, or mortgages.