New Telegraph

Lagos moves to stop fraud in real estate

The recently-passed law to regulate the real estate sector in Lagos State by the House of Assembly will help stop fraudulent activities in the sector, says the Special Adviser to Lagos State Governor on Housing, Mrs Toke Benson-Awoyinka. Giving this assurance in Lagos during a Stakeholders’ Engagement organised the Lagos State Real Estate Regulatory Authority (LASRERA), with the theme: ‘Redefining Opportunities in Real Estate: Regulations and Expectations’, Benson- Awoyinka said investors and other stakeholders in the sector had been prevented from all forms of fraudulent practices following the passage of the law. According to her, the state government is ready to curb fraudulent activities in the real estate industry with the right laws and regulations in line with Governor Babajide Sanwo-Olu’s T.H.E.M.E.S Agenda of making Lagos a 21st Century Economy. Speaking on the rationale for the event, the Special Adviser said while LASRERA and its stakeholders are eagerly awaiting Sanwo- Olu’s assent to the new law, it was necessary to further meet with relevant practitioners in the industry.

Benson-Awoyinka said: “The overall intention for this forum is for all participants to learn new and relevant skills that would be useful in scaling up their businesses and developing the industry as a whole.” She added: “As a government that cares about this profession, we will continue to ensure an effective and conducive environment for real estate business and investments to thrive in Lagos State.”

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