Lagos Reads Riot Act To Fraudulent Estate Agents
Lagos State Government on Thursday warned fraudulent estate agents whose stock in trade is becoming dubious by the day in the state to desist from defrauding unsuspecting members of the public, saying it would henceforth prosecute anyone caught in the act.
The Special Adviser to Lagos State Governor on Housing, Mrs. Toke Benson-Awoyinka who dangled the axe while unveiling the new Lagos State Real Estate Regulatory Authority (LASRERA) , its logo and portal said the era of fraudulent practices in the real estate sector is over in the state.
She said the government will no-longer tolerate activities of estate agents who go about defrauding Lagosians in the guise of providing accommodation or any form of property for prospective buyers or tenants.
Benson-Awoyinka stressed that the unwholesome acts of some of these agents had not gone unnoticed by the government and that henceforth, the business of real estate leasing and buying in Lagos will not be business as usual.
“We are well aware of the trend of fraudulent practices of some Real Estate Agents and Property Developers. This is reflected in the complaints received by the Agency in recent times of residents who had fallen victims to fake Real Estate Practitioners/ Property Developers while seeking for accommodation, purchasing and selling of properties.
“As you all know, Lagos State has been the commercial and economic nerve centre of Nigeria and Africa with investments opportunities hence the net migration to the state, the state government has worked tirelessly over the years to curb the increasing fraudulent practices in this sector and this explains the need to sanitise the industry.
“We are aware of the activities of some of these agents, who go about defrauding Lagosians in the guise of providing accommodation or properties, in terms of lease or outright sale. We have been able to prosecute one of such so far. We’re in court with others now. All prosecutions are done through the law courts.
“Recently, a lady from the US, came to my office, who was duped of N30 million by a particular company with offices in V/I and Magodo. We have cases of about 70 people defrauded by some agents. Also, I’m aware of a case of 30 people defrauded by another agent. There are instances where agents defraud prospective clients of agency fees of say, N5000, and showing them properties that are not listed or that they do not even know the owners.
“All these are the narratives we want to change. What we are saying is, if you defraud our people, we will prosecute you. In line with the T.H.E.M.E Agenda of Mr Governor on the improving Technology Infrastructure, we are today unveiling the Website, Social Media handles and Registration Portal for the effective management and communication amongst the Stakeholders. The interactive Website would enhance post-COVID compliance initiatives and promote transparency. It would become a one-stop-shop to Stakeholders and Government.
“The robust platform houses a brief history of our initiatives, our aims and goals. Our commitment to the people, a complaint section, a registration portal which allows you to upload documents. We remain committed to providing an enabling environment and transparent Real Estate Sector conforming to International best practices while safeguarding the ultimate interest of all the stakeholders.
“From now, to practice in Lagos as an agent, you must be registered on the website, you must be at least, a school cert holder, you must have an office as individuals, if you’re an organisation, you must have a board or management team.
‘Every agent that’s registered will be put on a portal, a compendium which will have all listed agents for easy tracking and follow up. This is part of the purpose of the registration.”
