Real Estate Firms Must Rebuild Public Trust To Attract Investments – Itepu

The chief executive officer and co-founder of Abode, Jeffrey Itepu, has identified lack of trust as a major challenge confronting Nigeria’s real estate sector, urging operators to strengthen transparency and accountability to attract investments and encourage wider participation.

Itepu said the failure of some real estate operators to fulfil their obligations to subscribers had damaged public confidence in the industry, making prospective investors reluctant to commit funds to property transactions.

Speaking at the 2026 edition of the Africa Wealth Festival, organised by Abode in Lagos recently, he said the company was leveraging technology to make property transactions more transparent and give customers greater control over their investments.

He explained that Abode’s digital platform enables customers to monitor payments, track outstanding obligations, access transaction documents and receive receipts without depending on physical files or repeatedly contacting company representatives.

According to him, the company also operates a refund policy that entitles customers to a full refund without charges if their properties are not delivered within 365 days of payment.

“If you do not get your property at most 365 days after you make payment, you are entitled to a full refund without any charges,” he said.

Itepu said the policy was part of the company’s efforts to demonstrate accountability and rebuild confidence in property transactions, adding that Abode conducts regular property allocations to customers.

He maintained that restoring trust in the sector would require developers to fulfil their commitments and provide customers with clear information about their transactions.

Beyond addressing transparency concerns, he said the company was using technology to expand access to real estate investment, with a target of helping one million Africans own, earn and profit from the sector.

He disclosed that the platform had empowered about 10,000 individuals across more than 33 countries to participate in different aspects of real estate within the company’s four years of operation.

According to him, the company’s approach recognises that participation in real estate goes beyond purchasing and owning properties, as individuals can also earn through agency, investment, professional services and other activities within the industry.

He identified the MyAbode application as the technology platform driving the company’s operations, explaining that it supports property acquisition, documentation, allocation and agent onboarding.

The platform, he added, also facilitates commission payments to agents, with their earnings transferred directly to their bank accounts.

For property buyers, he said receipts and contractual documents are made available digitally immediately after payment, enabling customers to retain copies of their transaction records.

Itepu said the company chose real estate as its vehicle for wealth creation because of the sector’s capacity to generate income across several professions and businesses.

He noted that a single property transaction could create economic opportunities for estate agents, architects, lawyers, structural engineers, bricklayers, tilers, furniture makers and interior designers, among others.

“When a real estate transaction is executed, wealth is created for almost 30 other people within the ecosystem,” he said.

The festival, which began in November 2022, is organised annually by Abode to provide participants with practical information and opportunities for building wealth.

Also speaking at the event, the Chief Operating Officer and Co-founder of Abode, Damilare Oshokoya, urged Nigerians to move beyond acquiring financial knowledge and take practical steps towards building wealth.

Oshokoya said access to information alone would not translate into financial progress unless individuals applied what they learnt through disciplined decisions and consistent actions.

He challenged participants to take greater responsibility for their financial future rather than attribute their economic circumstances solely to government policies.

He also urged Nigerians to be deliberate about their financial decisions, arguing that “the ability to build wealth depends not only on what individuals knew but also on how effectively they apply that knowledge.”

Another speaker, Dr Olumide Emmanuel, told participants that there were principles they needed to follow to achieve financial success.

Speaking on how to make, manage and multiply money, he said financial stability required intentional decisions rather than hard work alone.

“You cannot work hard enough to become financially stable, you must be more intentional,” he added.

The event brought together business leaders, entrepreneurs and other speakers to discuss wealth creation, investment opportunities and strategies for improving financial outcomes.

A major highlight of the festival was the presentation of rewards to some of the company’s stakeholders and members of the investing community who participated in a competition.

The prizes included cars as star rewards, alongside other consolation gifts.

One of the participants won a 2014 Mercedes-Benz C300, while another received an all-expenses-paid trip to Kenya. Other winners went home with ovens, microwave ovens and hampers, among other gifts.

Another major takeaway from the panel discussions, which examined different aspects of the real estate ecosystem, was the assertion that “Everything in life is real estate.”