Lagos State Partners with EFCC to Tackle Real Estate Fraud

The Lagos State Real Estate Regulatory Authority (LASRERA) is seeking a closer partnership with the Economic and Financial Crimes Commission (EFCC) to address fraudulent activities in the real estate sector. This initiative was discussed during a courtesy visit by LASRERA officials to the EFCC’s Lagos Zonal Directorate I.

Abdulhafis Toriola, the Permanent Secretary of the Ministry of Housing, stated that the collaboration aims to identify, investigate, and prosecute individuals and organizations involved in real estate fraud, including property flipping and document forgery. The EFCC's Assistant Commander, Adebayo Adeniyi, noted that complaints related to the real estate sector represent a significant portion of the commission's cases, underscoring the necessity for sustained inter-agency cooperation.

Both agencies committed to combining LASRERA’s regulatory oversight with the EFCC’s investigative powers to improve accountability and protect the public from fraudulent activities in the property market.