Land is of basic importance in traditional Nigerian society, and is communally owned, although family or company ownership exists side by side with communal ownership. It is a source of wealth and is greatly valued as a crucial factor of production moreover people acquire land for many different reasons. Land constitutes a sensitive asset whose administration must be based on meaningful policy decisions to benefit the people. Hence, no society exists without a regulation of some kind peculiar to it to rationalize the mode of ownership and the use of land, because land is limited, the law must step in to discourage land speculation. According to the 1999 constitution (as amended), which is the ultimate legislation in Nigeria, one’s right to one’s property is an entrenched constitutional right which is inviolate. It follows therefore that any purported acquisition which is not according to a law containing the above provisions or conditions is no acquisition at