In a continued effort to regulate Lagos State’s real estate market and protect property investors, the state government announced the recovery of nearly ₦295 million and the resolution of over 1,200 property-related disputes through the Lagos State Real Estate Regulatory Authority (LASRERA).
Speaking during a ministerial briefing held at Alausa, Ikeja, the Commissioner for Housing, Moruf Akinderu-Fatai, detailed LASRERA’s recent interventions, highlighting its critical role in restoring order to a sector long plagued by unregulated practices and fraudulent operators.
Akinderu-Fatai revealed that since its inception, LASRERA has mediated 1,580 out of 1,899 reported cases, successfully resolving 1,243 disputes through its Alternative Dispute Resolution (ADR) platform. While 23 cases remain under active investigation, 147 were dropped, and 172 were redirected to appropriate agencies. Eight matters are currently before the courts at various levels.
“Through these efforts, LASRERA has facilitated the recovery of ₦295,471,800 for aggrieved residents and restored ownership of 20 properties to rightful claimants,” the Commissioner said.
He emphasized the state’s crackdown on unregistered practitioners, noting that out of more than 2,550 applicants, only 925 individuals and firms have been fully accredited on the agency’s digital platform: lasrera.lagosstate.gov.ng. This initiative aims to remove quacks from the market and ensure that only qualified, verified professionals operate legally.
Akinderu-Fatai reiterated that engaging in real estate transactions without proper registration is a criminal offence under Lagos law, warning residents and investors to verify agents and developers through the official portal to avoid exploitation.
As part of its broader enforcement campaign, the ministry has also begun sealing off properties that violate approved development plans within government housing estates. He explained that infractions, such as unauthorized alterations by property allottees, have triggered disciplinary actions, including the potential forfeiture of such properties to the state.
In a bid to raise awareness and strengthen industry partnerships, LASRERA has hosted five annual editions of the Lagos Real Estate Marketplace Conference and Exhibition. The most recent edition, held in December 2024, explored the theme “Reimagining Lagos Landscape: Ensuring Sustainable Real Estate Development Practices.”
The Commissioner added that LASRERA continues to work in coordination with other relevant government agencies to foster a unified, transparent, and investor-friendly environment across the sector.
“Our goal remains unwavering—to uphold standards, protect citizens, and position Lagos as a benchmark for real estate governance in Nigeria,” Akinderu-Fatai concluded.
