LASRERA Partners Private Firms to Combat Fraud in Lagos Real Estate Sector

The Lagos State Real Estate Regulatory Authority (LASRERA) has entered into a strategic partnership with private firms and relevant stakeholders as part of efforts to tackle fraud in the state’s property market. The move, which aligns with the Lagos State government’s ongoing reforms in the housing sector, is aimed at sanitising real estate practice, safeguarding investors, and reducing the activities of unlicensed operators who have continued to defraud residents. Speaking on the development, the Special Adviser to Governor Babajide Sanwo-Olu on Housing, who also oversees LASRERA, explained that the collaboration would strengthen transparency and accountability within the sector while restoring public confidence in real estate transactions. He emphasised that mandatory registration and certification of all estate agents and property practitioners in Lagos remain central to the state’s strategy. According to him, only practitioners who are duly registered and issued LASRERA certificates will be legally recognised to operate in the market, a step designed to create a verifiable database accessible to the public. To ensure the initiative succeeds, LASRERA is working closely with technology firms to expand its digital verification platform, allowing buyers, tenants, and investors to confirm the authenticity of property agents and documents in real time. In addition, the agency is collaborating with enforcement bodies and real estate associations to investigate complaints, recover assets tied to fraudulent practices, and prosecute offenders where necessary. Public sensitisation campaigns have also been rolled out in partnership with local government councils and community leaders to educate residents on how to avoid scams such as fake land sales, multiple allocations, and inflated tenancy charges. LASRERA has repeatedly warned that individuals or companies conducting real estate transactions without proper registration are violating the law and risk penalties, including fines and prosecution. Fraudulent activities have long plagued the Lagos property market, discouraging investment and damaging the reputation of genuine practitioners. By partnering with private firms and strengthening oversight, the state government hopes to protect both investors and residents while creating a more transparent and trusted environment for real estate development. Industry stakeholders have welcomed the initiative, describing it as a necessary step to professionalise the sector. Some, however, urged LASRERA to simplify the registration process and make it affordable to encourage wider compliance among small-scale agents. With Lagos remaining a major hub for real estate investment in Nigeria, LASRERA’s latest move is expected to reshape the industry by promoting accountability, enforcing standards, and reassuring the public that the government is committed to ending fraudulent practices in the sector.