The Nigerian real estate and agent market has been a tool for preying on people who use their tactics in ripping individuals of their hard-earned money.
An agent who is believed to have been one of several bad eggs in the real estate agent market was arrested on 13th February 2026 in Asaba, Delta State, following a massive rent scam.
The suspect, whose identity is yet to be made public by the Delta State Police Command pending further investigation, reportedly exploited the high demand for housing in the state capital to “double-collect” inflated rent from unsuspecting tenants.
The fraud scheme took a different turn when the two victims coincidentally met at the house in the Okpanam Road axis of Asaba to begin their move-in process.
The two tenants happened to have been given different sets of keys provided by the agent. A heated argument erupted, which led to the attention of the landlord, who intervened. Upon realising that the agent had not only collected money from multiple people but had also charged more than double the asking price, the landlord alerted the police.
The agent was reported to be having a good time at a popular lounge in Asaba, where he was spending lavishly from the money he has ripped from the tenants.
The landlord had listed the 3-bedroom flat for rent at an annual fee of ₦1.5 million. The agent who is currently in police custody told his first victim that the house was a “hotcake,” and he had to pay the sum of ₦2.5 million to “secure” it.
He further went ahead to deceive the second victim that the house is currently at a stage where the highest bidder is the person suitable for the house; the victim, who is eager to secure shelter for himself and his family, ended up paying ₦3.5 million.
The agent allegedly pocketed ₦4.5 million in “excess profit” while only intending to remit the original ₦1.5 million to the landlord.
This incident has been a pattern that tenants face often in growing or already established cities. Agents hide the actual price set by the landlord, creating an artificial “bidding war” to fleece desperate house hunters; in many cases, most of these agents aren’t registered with the Association of Estate Agents in Nigeria (AEAN).
This report was produced by the editorial team at The Gazette News | Latest News In Nigeria & the World in line with our commitment to accuracy, fairness, and responsible journalism. Information in this article is based on verified sources available at the time of publication. The Gazette News | Latest News In Nigeria & the World may update the story as new facts emerge or additional context becomes available.
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