Lagos State Government Pledges Crackdown on Unauthorized Real Estate Companies

Lagos State Government to Crack Down on Illegal Real Estate Operators

The Lagos State Government has issued a stern warning to unregistered individuals and organizations involved in real estate activities within the state. Speaking at a recent 2024 Ministerial Press Briefing, Lagos State Commissioner for Housing, Moruf Akinderu-Fatai, emphasized the government’s determination to clamp down on illegal real estate agents.

Akinderu-Fatai highlighted the consequences that illegal real estate agents could face for failing to comply with the registration requirements set by the Lagos State Real Estate Regulatory Authority (LASRERA). He stressed the importance of this warning in maintaining order and ensuring transparency in the real estate sector.

Residents of Lagos State were urged to exercise caution when engaging with real estate agents and to verify their registration status with LASRERA. This precautionary measure aims to protect individuals from falling victim to fraudulent or unscrupulous estate agents.

“It is also essential to request that we spread the warning across every platform that it is an offence for an individual and organisation to engage in real estate business in Lagos State without being registered with LASRERA. Let us act responsibly and follow the path of the law,” Akinderu-Fatai stated.

He further emphasized the importance of patronizing registered real estate individuals and organizations to ensure compliance with legal requirements and safeguard against potential risks associated with unauthorized operators.