The Lagos State Real Estate Regulatory Authority (LASRERA) has stepped up its fight against unlicensed and fraudulent real estate operators in Lagos, shutting down the office of an unregistered agent in the Owutu area of Ikorodu.
The operation, carried out on Wednesday alongside the State Task Force, targeted Demeny Ventures, whose operator allegedly posed as a registered LASRERA agent using a fake registration number.
Commenting on the action, Barakat Odunuga-Bakare, Special Adviser to the Governor on Housing, explained that the clampdown is part of the government’s ongoing effort to clean up the real estate sector, protect residents from scams, and restore trust in property transactions. She stressed that only practitioners officially registered with LASRERA are allowed to operate in the state, warning that unlicensed individuals and organizations would face strict enforcement measures.
Odunuga-Bakare highlighted that the initiative comes amid growing complaints from residents who have fallen prey to fake estate agents and unscrupulous developers. “Some fraudulent operators collect rent from multiple tenants for the same property or sell plots of land that don’t exist,” she said.
She also noted that LASRERA has strengthened its oversight through closer monitoring of real estate deals, more rigorous registration procedures, and swift investigation of complaints. The Authority has successfully resolved numerous disputes and helped victims recover funds through mediation and regulatory actions.
Residents were urged to always check the registration status of agents and developers before engaging in any property transactions and to report suspicious activities directly to LASRERA. The Special Adviser reiterated the government’s commitment to transparency, professionalism, and accountability in the sector, warning that violators will face prosecution.
At the sealed office on Oladele Adeniji Street, off Isawo Road, Owutu Agric, Deji Badejo, LASRERA’s Director of Compliance and Enforcement, said the action followed credible intelligence about the suspect. “This operation responds to reports of someone impersonating LASRERA with a fake registration number, defrauding unsuspecting members of the public, especially people seeking accommodation,” he explained.
Badejo confirmed that the office was sealed under the LASRERA Law 2022, pending further investigation and regulatory action. He added that enforcement would continue across Lagos, with greater emphasis on intelligence-led operations to identify and sanction fraudulent agents. He also urged residents to support the Authority by reporting any suspicious activities via LASRERA’s hotlines.
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