Lagos State Recovers N270 Million from Real Estate Fraud

The Lagos State Government has successfully recovered N270 million for victims of real estate fraud, as announced by Moruf Akinderu-Fatai, the Commissioner for Housing, during a press briefing on Tuesday at the Bagauda Kaltho Press Centre in Alausa, Ikeja. This recovery is part of the government's ongoing efforts to protect residents from exploitation and fraudulent practices in the real estate sector.

Akinderu-Fatai emphasized that the recovery underscores the government's commitment to safeguarding residents against unethical transactions. The Lagos State Real Estate Regulatory Authority (LASRERA) is actively strengthening regulatory oversight and engaging stakeholders through public sensitization campaigns to restore confidence in the property market.

Additionally, LASRERA has intensified public awareness campaigns and established new satellite offices to improve regulatory services. The authority has also collaborated with the Lagos State Task Force to seal offices of alleged unregistered operators in Ikorodu.

Akinderu-Fatai urged residents to verify practitioners and report suspicious real estate activities promptly.