--- title: "Land Banking Mistakes Lagos Investors Keep Making" url: "https://buyrentlagos.com/articles/land-banking-mistakes-lagos-investors-keep-making" published: "2026-05-30T07:00:00+00:00" updated: "2026-10-05T06:29:50.025245+00:00" author: "Laide Matthews" category: "Investment" verified: false --- # Land Banking Mistakes Lagos Investors Keep Making Land banking in Lagos fails most often on title and timing, not on location tips: buying “excision in process”, skipping a registry search at Alausa, or banking land with no road, no demand driver and no exit buyer. Verify C of O, Governor's Consent, Gazette or excision status on paper, chart the survey, inspect in rainy season, and only bank land you can hold without forced selling. **TL;DR:** Land banking in Lagos fails most often on title and timing, not on location tips: buying “excision in process”, skipping a registry search at Alausa, or banking land with no road, no demand driver and no exit buyer. Verify C of O, Governor's Consent, Gazette or excision status on paper, chart the survey, inspect in rainy season, and only bank land you can hold without forced selling. A client once showed me a brochure for a plot “five minutes from the expressway” in Ibeju-Lekki. We drove it in August: the five minutes ended at a flooded track, the survey landed in a different village, and the title was a receipt plus “C of O in view”. Cheap was the warning, not the opportunity. These are the mistakes that cost Lagos land bankers money. ## Mistake 1: Treating every document as a title A receipt is not a title. A Contract of Sale is not a title. A Registered Survey Plan shows boundaries; it does not by itself prove ownership. “Freehold”, “allocation paper” and “Power of Attorney” do not transfer legal title on their own. What carries weight, depending on the land, is a verifiable root: Certificate of Occupancy (C of O), Governor's Consent perfecting a transfer of C of O land, Gazette recording excised or allocated land, or a properly gazetted excision that releases land from government acquisition — each checked against government records, not the seller's photocopy. If a seller says “excision in process”, hear “still under acquisition until gazetted”. Many estates on gazetted excised land function well. Land with no gazette yet is a different risk entirely. Do not bank retirement money on “in process”. ## Mistake 2: Skipping the searches because the papers “look fine” Cloned and altered C of Os are a documented fraud pattern in Nigeria. The only cure is independent verification: - Land Registry search at Alausa to confirm the C of O or Consent matches official records and the seller's name matches the title - Charting at the Office of the Surveyor General to confirm the survey is not inside government acquisition, road alignment or committed land - Community inquiries where land derives from family holding — have principal members consented? A LAGIS check on lagis.lagosstate.gov.ng flags issues but does not replace the certified search. A genuine C of O in the seller's father's name or a company he no longer controls is not safe until the chain is perfected. Tie the bulk of payment to perfection, not promises. ## Mistake 3: Banking a corridor with no dated driver “Dangote Refinery will blow this area” is not a thesis. Infrastructure moves land only when funding, construction and access roads are visible. Bank where a driver already exists: tarred access, active residents, a school, market or employer, a transport stop people use. If your exit needs one future bridge and one believer, you own a story. Ask who buys in five years; if the answer is only “prices will go up”, keep your money. ## Mistake 4: Ignoring holding costs and rainy-season truth Land banking is not buy and forget. Budget for perfection (Consent, survey, legal fees), clearing, security against encroachment and document storage. Visit yearly — and once in peak rainy season. Waterlogged Lekki and Epe plots tell the truth in August: check drainage, canal setbacks and neighbouring foundations. Confirm setbacks and Right of Way too; a plot inside a future road is smaller than the survey suggests. ## Mistake 5: Buying too small, too scattered, or with no exit Three scattered 300sqm plots give you three family risks and no developer appeal. One clean 600–1,000sqm holding near existing residents usually banks better and can support a joint venture later. Decide the exit before entry: resale, joint venture or build-to-rent. Each needs a different title standard and plot size. “Decide later” usually means the market decides at a discount. Prices move fast on the growth corridors and fraud moves faster. Get a current check before you budget, pay only against verified documents, and hold only land you can defend on paper and on the ground. **Related reading:** “Can Government Revoke Your C of O? Land Rights Explained”; “Regularization & Ratification: Fixing Imperfect Title in Lagos”; “Selling Land vs Selling Houses: Which Exit Pays More in Lagos” ## Frequently asked questions ### What is the biggest land banking mistake in Lagos? Buying on a promised title — “excision in process” or “C of O in view” — without a gazette or registry verification. If the land is still under government acquisition, it can be reclaimed. Verify the root title at Alausa and chart the survey before full payment. ### Is excision land safe to buy in Lagos? Gazetted excision land can be legitimate, and many estates sit on it. The risk is ungazetted or “in process” excision. Ask for the gazette number, search the Lagos State Gazette, and have your lawyer confirm the specific survey is released. ### How do I verify land in Lagos before buying? Use a lawyer to run a Land Registry search at Alausa, chart the survey at the Surveyor General's office, and check family or community authority where relevant. A LAGIS online check is a useful first flag but not a substitute for the certified search. Match the seller's name to the title exactly. ### Which documents are not land titles in Nigeria? Receipts, Contracts of Sale, survey plans alone, allocation letters and Powers of Attorney do not by themselves transfer legal title. You need a verifiable root such as C of O, Governor's Consent, Gazette or gazetted excision, plus a Deed of Assignment properly perfected. Get legal advice for the specific parcel. ### How long should I hold banked land in Lagos? Hold only as long as your title is perfected, the access and demand driver are improving, and you can fund holding costs without forced selling. There is no safe fixed period. If you may need the cash within two years, illiquid raw land is usually the wrong bank.