Lagos recovers millions for victims of property scams
Lagos State has recovered over N270 million for residents who fell victim to real estate fraud. Moruf Akinderu-Fatai, the Commissioner for Housing, announced the recovery during a ministerial press briefing. He highlighted the government's efforts to protect residents from fraudulent estate agents and property developers. The Lagos State Real Estate Regulatory Authority (LASRERA) has intensified its regulatory activities to restore confidence in the property market.
What happened
- Moruf Akinderu-Fatai said over N270 million was recovered from fraudulent estate agents and developers for affected residents.
- LASRERA has strengthened oversight through stakeholder engagement, public sensitisation campaigns, and enforcement operations.
- The authority set up a new satellite office in Surulere, increasing the total to four offices in the state.
- LASRERA, with the Lagos State Task Force, sealed the office of an alleged unregistered operator, Demeny Ventures, in Owutu, Ikorodu.
- The sixth edition of the LASRERA Marketplace was recently held to promote compliance and ethical standards among industry stakeholders.
