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The short answer
In a financial order case in England and Wales, both spouses must disclose all assets held inside and outside England and Wales on Form E, with a valuation from the last six months or a realistic estimate for each property, 12 months' statements for each account and two years' accounts for a business. Nigerian assets are valued in naira by local evidence and converted to pounds; the court can direct a formal valuation, including by a jointly instructed expert.
Many Nigerian couples in the UK own something at home: a house in Abuja, a plot in Ibeju-Lekki, shares on the NGX, a share in a family business. When the marriage ends in an English court, those assets are part of the picture, and arguments about what they are worth can take up more time and money than anything else. This guide covers how the process deals with value, not who should get what.
The court wants everything, everywhere
Form E, the financial statement each spouse files, tells you to include all assets held both within and outside England and Wales, and its section 2.14 asks for any asset held outside England and Wales not listed elsewhere. The statement of truth confirms full, frank, clear and accurate disclosure. The form warns that failing to disclose can lead to an order being set aside, that false statements can lead to contempt proceedings, and that deliberate untruthfulness can lead to prosecution under the Fraud Act 2006.
Family Procedure Rules 9.14 requires both parties to exchange and file the financial statement not less than 35 days before the first appointment, which is fixed 12 to 16 weeks after the application (rule 9.12). At the first appointment the court can give directions on valuing assets, including by a single joint expert (rule 9.15(3)).
Land and buildings in Nigeria
Form E asks you to attach any valuation obtained in the last six months, or give a realistic estimate of market value. For a Nigerian property you might use:
- A written valuation by an estate surveyor and valuer. The NMRC underwriting standard, for instance, requires valuers who are NIESV members, which is a useful benchmark.
- Recent sale prices of comparable plots or houses in the same estate, with evidence.
- Developer price lists for off-plan units, used with care because asking prices are not sale prices.
Value depends on title. A plot without Governor's consent, under dispute or awaiting excision is worth less and harder to sell; say so and attach the documents. Under the Land Use Act an assignment of a statutory right of occupancy needs the Governor's consent first (section 22).
Shares, funds and businesses
For listed shares, Form E asks for the latest statement or dividend counterfoil; a CSCS statement or broker statement shows holdings. For a business interest (section 2.11), attach accounts for the last two financial years and anything supporting your estimate, such as an accountant's letter; Form E says a formal valuation is not essential at that stage. If the other side disputes it, the court may direct an expert.
Naira to pounds
Form E asks for cash to state where it is held and the currency, but gives no conversion rule. In practice, state the naira amount, the sterling figure, the exchange rate you used, its date and source. Because the naira can move a long way between filing and a final hearing, expect values to be updated, and keep the original naira figure visible so the update is simple arithmetic.
| Asset (example only) | Naira value | Rate used (example) | Sterling |
|---|---|---|---|
| House, Abuja | ₦180,000,000 | ₦2,000 = £1 | £90,000 |
| Plot, Ibeju-Lekki | ₦40,000,000 | ₦2,000 = £1 | £20,000 |
| Naira savings | ₦6,000,000 | ₦2,000 = £1 | £3,000 |
| Total | ₦226,000,000 | £113,000 |
The rate above is a round example, not a market rate. Use a dated published rate and say which.
Costs of sale and tax
A gross value overstates what a spouse would receive. Form E's section 2.10 asks for your estimate of the Capital Gains Tax that would arise if assets were sold now. For Nigerian property, add the costs of selling there, Nigerian tax on the gain and the cost of converting proceeds to pounds, each with evidence where possible.
When values are disputed
If the two of you cannot agree what a Lagos house is worth, the court's first appointment is the place to ask for directions. Rule 9.15(3) lets the court give directions on valuing assets, including through a single joint expert, which usually costs less than two competing reports. Agree the instructions carefully: the address, title documents, access for an inspection and the valuation date.
What to prepare
- A list of every Nigerian asset, whose name it is in, and the documents of title.
- A dated valuation or a reasoned estimate for each property.
- Twelve months of statements for every Nigerian account.
- Two years of accounts for any business.
- An exchange rate note showing source and date.
Where Pryme fits
If you hold naira through a Pryme account, you can download statements covering the period the court asks for, and share them as verifiable statements through VerifyDoc.ai, which the other side can confirm are unaltered. Pryme does not give legal advice. See also declaring Nigerian assets on Form E and whether a Nigerian divorce is recognised in the UK.
Questions people ask
Do I have to declare my house in Nigeria in a UK divorce?
Yes. Form E tells you to include all assets held inside and outside England and Wales.
Who values Nigerian property for a UK divorce?
You can attach a recent valuation or a realistic estimate; if it is disputed, the court can direct an expert, including a single joint expert.
What exchange rate is used for naira assets on Form E?
Form E sets no rule. State the naira amount, the rate, its source and date, and expect updates before the final hearing.
What happens if I hide Nigerian assets in a divorce?
Form E warns that an order may be set aside, contempt proceedings may follow false statements, and deliberate untruthfulness may lead to fraud prosecution.
Sources
- HMCTS: Form E, financial statement for a financial order (PDF; page updated 22 Sep 2026) · accessed Oct 2026
- HMCTS: Notes to Form E (PDF) · accessed Oct 2026
- Family Procedure Rules Part 9, rules 9.12 to 9.15 (Ministry of Justice) · accessed Oct 2026
- GOV.UK: Money and property when a relationship ends, get the court to decide (updated 11 Feb 2025) · accessed Oct 2026
- NMRC: Understanding NMRC's mortgage underwriting standards for the formal sector (16 Mar 2023) · accessed Oct 2026
- Land Use Act, Cap L5 LFN 2004 (PLAC Laws of Nigeria) · accessed Oct 2026
This article is general information, not financial, legal or tax advice. Products described are provided under the terms on this site and are subject to regulation and eligibility.