Beware of lands in Lagos with “Processing Excision” title.
There has been a proliferation of real estate companies claiming to have lands for sale all over Lagos especially in Ibeju Lekki axis. Some of the lands they are selling have genuine titles but most of them don’t especially those on which they claim to be “processing excision”. They tell prospective buyers they have started processing excision and they have “file number” already.
An excised land is a land that has been released by the government to the indigenes of the area who originally owned the land before the government acquired it. This means that the land is no longer under government acquisition and processing of C of O (Certificate of Occupancy) is possible.
Two things you have to know about excisions:
1 The fact that a file number has been given at the ministry does NOT mean that the excision will be granted.
This means that if the government does NOT grant the excision, you get no land.
2 In an excision application, the total area of land applied for is NOT always granted.
This means that if a real estate company applied for 50 hectares of land to be excised, the government may grant 30 hectares. The implication is that those who bought land from the 20 hectares that was not granted will lose their lands.
If they are lucky, the real estate company may compensate them by giving them land in another location but it won’t be the location they paid for.
Dear Prospective Land Buyer, understand the risks involved in such land transactions before giving any company your hard-earned money.