May 20, 2022
In line with its mandates to regulate, sanitise and effectively monitor the Real Estate Sector, the Enforcement Unit of Lagos State Real Estate Regulatory Authority (LASRERA) has extended its enforcement drive to some parts of the State to ensure that real estate practitioners operating in Lagos are duly registered with the Authority.
Speaking before the commencement of the exercise on Thursday, the Special Adviser to the State Governor on Housing, Mrs. Toke Benson-Awoyinka, said the initiative would be replicated across other divisions of the State as part of strategies by LASRERA to raise public awareness about the government’s efforts to sanitise the real estate sector.
She emphasised the need to explain that it is an offence to practice real estate in any form, including those displaying “To Let, To Lease, For Sale etc” in their offices or on a property, without being duly registered with the Agency.
Benson-Awoyinka, represented the Director, Enforcement Unit of LASRERA, Mr. Deji Badejo, stated that there is a need to restrict the posting of banners on Residential and Commercial property by unregistered Real Estate Individuals/Organisations who can easily swindle unsuspecting members of the public of their earnings.
She added that many members of the public have been defrauded in the past by imposters and fraudulent real estate practitioners, stressing that the government cannot continue to fold its arms and condone irregularities that are capable of driving many genuine investors/investees away from the sector.
The Special Adviser informed that the Agency had earlier written letters to over 1000 Real Estate Individuals and Organisations in the State to honour the government’s call for regularisation of the sector, just as it is increasing the market confidence of those in the diaspora to invest in the sector.
“Let me state clearly here that following the letters earlier delivered to practitioners across the State, only a few of these practitioners responded to the content of the letters, hence the need to embark on this enforcement and compliance exercise so that relevant stakeholders in the built sector and the general public can attach importance to the call by the Agency to sanitise real estate transactions in the State”, she emphasised.
The Special Adviser also used the opportunity to call on members of the public to report dubious Real Estate Practices via the Agency’s email: lasrera@lagosstate.gov.ng, or call the following numbers: 0901 999 9977, 0901 9999 997, 0904 0000 333, 0904 0000 444, 0904 0000 555 or contact the headquarters of LASRERA at Block 21, First Floor, Alausa Secretariat, Ikeja.
