Real estate firms must rebuild public trust to attract investments –Abode CEO

The Chief Executive Officer and Co-founder of Abode, Jeffrey Itepu, has identified declining public confidence as a major challenge confronting Nigeria’s real estate sector, warning that developers must embrace transparency, accountability and timely delivery of properties to restore investor confidence and attract greater investments.

Itepu said the failure of some real estate operators to honour their commitments to subscribers had eroded trust in the industry, leaving prospective investors increasingly cautious about committing funds to property transactions.

Speaking at the 2026 Africa Wealth Festival organised by Abode in Lagos recently, he maintained that rebuilding confidence would require developers to demonstrate integrity in their operations, provide customers with accurate information and fulfil contractual obligations.

He said Abode was deploying technology to address some of the challenges by making property transactions more transparent and giving customers greater control over their investments.

According to him, the company’s digital platform enables customers to monitor payments, track outstanding obligations, access contractual documents and obtain receipts without relying on physical files or repeatedly contacting company representatives.

Itepu disclosed that the company had also introduced a refund policy under which subscribers would be entitled to recover their payments in full, without deductions, if their properties were 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.

He explained that the policy was designed to strengthen accountability and reassure customers that their investments were protected, adding that the company regularly conducted property allocations to subscribers.

Itepu maintained that restoring confidence in the sector would depend largely on the willingness of operators to honour agreements, improve communication with customers and establish systems that make property transactions verifiable.

Beyond transparency, he said Abode was leveraging technology to expand access to real estate investment, with a target of helping one million Africans own property, earn income and create wealth through opportunities in the sector.

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

According to him, participation in the sector should not be restricted to purchasing and owning properties, as individuals could also generate income through agency services, investments and other professional activities associated with property development.

He identified the MyAbode application as the technology platform supporting the company’s operations, explaining that it facilitates property acquisition, documentation, allocation, agent registration and commission payments.

Through the platform, he said, agents could receive their commissions directly into their bank accounts, while property buyers could immediately access digital receipts and contractual documents after completing payments.

Itepu explained that the company chose real estate as a vehicle for wealth creation because of its capacity to stimulate economic activities and generate income across several professions and businesses.

He noted that a single property transaction could create 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.

He maintained that expanding participation in the sector would not only encourage property ownership but also create employment opportunities and strengthen economic activities along the real estate value chain.

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

Oshokoya said access to financial information alone would not guarantee economic progress unless individuals applied what they learnt through disciplined decisions, deliberate planning and consistent action.

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

According to him, the ability to build wealth depends not merely on what individuals know but also on how effectively they translate that knowledge into productive financial decisions.

Similarly, wealth creation expert, Dr Olumide Emmanuel, stressed the importance of understanding the principles of making, managing and multiplying money, noting that financial stability required intentional planning rather than reliance on hard work alone.

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

Emmanuel urged participants to develop practical strategies for managing their resources, identifying investment opportunities and building sustainable sources of income.

The Africa Wealth Festival, which began in November 2022, is organised annually by Abode to provide participants with practical knowledge, investment opportunities and strategies for achieving financial independence.

The 2026 edition brought together business leaders, entrepreneurs, investors and other stakeholders who examined wealth creation, property investment and opportunities within the real estate ecosystem.

Speakers at the event emphasised the central role of real estate in economic development and wealth creation, with the recurring message that “Everything in life is real estate.”

The event also featured rewards for members of the company’s stakeholder and investment community who participated in a competition, with prizes including cars, household appliances and travel packages.

One participant won a 2014 Mercedes-Benz C300, while another received an all-expenses-paid trip to Kenya. Other winners received ovens, microwave ovens, hampers and other consolation prizes.

The organisers said the festival formed part of Abode’s broader mission to democratise wealth creation among Africans through property ownership, financial education and technology, while encouraging greater participation in the real estate sector.