The LASRERA crackdown on fake estate agents has intensified as the Lagos State Government moves to sanitize the real estate sector and protect residents from rising cases of property fraud.
Eko Hot News reports that the Lagos State Real Estate Regulatory Authority (LASRERA), in collaboration with the State Task Force, sealed off the office of an alleged impostor operating under the name Demeny Ventures in the Owutu area of Ikorodu.
The enforcement operation, carried out on Wednesday, targeted the suspect accused of posing as a registered LASRERA agent while allegedly using a fake registration number to deceive unsuspecting clients.
Speaking on the development, the Special Adviser to the Governor on Housing, Barakat Odunuga-Bakare, described the exercise as part of ongoing efforts by the Lagos State Government to restore sanity, transparency, and accountability in the real estate sector.
She stressed that only duly registered and certified practitioners are legally permitted to operate within the state, warning that unlicensed individuals and organisations will continue to face strict enforcement measures.
According to her, the crackdown follows a surge in complaints from residents who have fallen victim to fraudulent estate agents and property developers.
“Fraudulent operators often collect money from multiple tenants for the same apartment or sell non-existent plots of land to unsuspecting buyers,” she stated.
Odunuga-Bakare further revealed that LASRERA has strengthened its regulatory framework through improved monitoring systems, enhanced registration processes, and swift investigation of complaints. She added that the agency has successfully resolved several disputes and helped victims recover funds through mediation and regulatory intervention.
She urged Lagos residents to verify the registration status of estate agents and property developers before entering into any transaction and to report suspicious activities to LASRERA.
At the sealed premises located on Oladele Adeniji Street, off Isawo Road, Owutu Agric, Ikorodu, the Director of Compliance and Enforcement at LASRERA, Deji Badejo, confirmed that the action followed credible intelligence on the suspect’s activities.
Badejo explained that the enforcement was carried out in line with the provisions of the LASRERA Law 2022, adding that the office will remain sealed pending further investigation and regulatory actions.
He emphasized that the operation is part of a sustained statewide enforcement strategy aimed at identifying, apprehending, and prosecuting fraudulent real estate operators.
Residents were also encouraged to support the agency’s efforts by reporting suspicious activities through its dedicated hotlines: 09122000661 and 09122000662.
The Lagos State Government reaffirmed its commitment to protecting property buyers and tenants, warning that anyone found violating real estate regulations will be prosecuted in accordance with the law.
