The Lagos State Government has recovered more than ₦270 million from fraudulent estate agents and property developers on behalf of residents affected by real estate scams across the state.
Commissioner for Housing, Moruf Akinderu-Fatai, disclosed this during the 2026 Ministerial Press Briefing in Alausa, Ikeja, saying the move highlights the government’s commitment to protecting residents from exploitation and unethical practices in the property sector.
He explained that the Lagos State Real Estate Regulatory Authority (LASRERA) has strengthened oversight of the real estate industry through stakeholder engagement, public awareness campaigns, and enforcement measures aimed at improving transparency and boosting public confidence.
According to the commissioner, LASRERA organised sensitisation programmes across all local government and local council development areas to educate residents on safe property transactions and discourage illegal activities by operators in the sector.
The agency also launched billboard campaigns in locations such as Surulere, Ikorodu, Epe, Badagry, Marina, and Alausa, urging residents to deal only with registered real estate practitioners.
Akinderu-Fatai added that LASRERA maintains a database of accredited agents and developers, allowing residents to verify operators before conducting transactions.
He further revealed that a new LASRERA satellite office has been opened in Surulere to improve access to services and complaint resolution, bringing the number of satellite offices in the state to four.
The commissioner also disclosed that LASRERA, in collaboration with the Lagos State Task Force, sealed the office of Demeny Ventures in Ikorodu for allegedly operating as an unregistered real estate agency.
The state government reaffirmed its commitment to sanitising the real estate sector and advised residents to verify agents through official LASRERA channels while promptly reporting suspicious activities.
