Nigeria has taken a major step toward cleaning up its real estate sector with the launch of the country’s first anti-fraud mobile application, designed to curb corruption and fraudulent practices in property and land transactions.

The app, named Ist Choice Property, was unveiled on Tuesday in Lagos by its creators, Taiwo Joel Oladapo and Gbenga Agbana, attracting participants from across Nigeria. The technology marks the first real estate anti-corruption app in both Nigeria and West Africa.

Speaking at the launch, Oladapo, CEO of Ist Choice Property, revealed that Nigerians lose over ₦100 billion annually to fraudulent property deals, making real estate one of the country’s highest-risk sectors.

“The real estate sector has the potential to create five million jobs annually for Nigerians. Unfortunately, it is under serious threat from quacks and fraudsters. Ist Choice Property aims to redeem the sector’s image by providing a secure, legally backed framework for investment,” Oladapo said.

The app is designed to protect investors both at home and in the diaspora from losing money to unscrupulous property speculators. Users can verify property legitimacy, avoid disputed assets, and ensure investments comply with legal standards.

Oladapo highlighted Nigeria’s housing shortage, noting that fewer than 10% of Nigerians own homes, with a housing stock of about 10.71 million units for a population of 230 million. Diaspora investments in real estate reached $20.9 billion in 2024, but poorly regulated practices have led to significant financial losses.

“Corruption and exploitation by land and property speculators discourage genuine efforts by the diaspora, local investors, and international partners. This app will help save billions of naira annually and restore confidence in Nigeria’s real estate market,” Oladapo added.

The promoters described Ist Choice Property as a milestone innovation that will position Nigeria as a transparent and trustworthy destination for housing and property investment.