LASRERA Cracks Down on Fraudulent Agents, Seals Unregistered Real Estate Office in Ikorodu
The Lagos State Real Estate Regulatory Authority (LASRERA) has intensified its enforcement drive against fraudulent and unregistered real estate practitioners, sealing the office of an illegal operator in the Owutu area of Ikorodu.
The operation, carried out recently in collaboration with officers of the State Task Force, led to the closure of an office. The operator allegedly posed as a registered LASRERA agent using a fake registration number.
Speaking on the exercise, the Special Adviser to the Governor on Housing, Barakat Odunuga-Bakare, said the clampdown is part of efforts to sanitise the real estate sector, protect residents from fraud, and restore confidence in property transactions.
She reiterated that only practitioners duly registered and certified by LASRERA are permitted to operate in the state, warning that those involved in unlicensed activities will face strict enforcement measures.
Odunuga-Bakare noted that the action follows a surge in complaints from residents who have fallen victim to fraudulent agents and developers, who often collect payments from multiple tenants or sell non-existent properties.
She added that LASRERA has strengthened its regulatory framework through improved monitoring, enhanced registration processes, and prompt investigation of complaints, leading to dispute resolution and recovery of funds for victims.
The Special Adviser urged residents to verify the registration status of agents before engaging in transactions and report suspicious activities, reaffirming the government’s commitment to transparency, accountability, and professionalism in the sector.
Also speaking, LASRERA’s Director of Compliance and Enforcement, Deji Badejo, said the action followed credible intelligence, noting that the office was sealed in line with the LASRERA Law 2022, while assuring that enforcement efforts will continue across the state.
