The Lagos State Government, through the Lagos State Real Estate Regulatory Authority (LASRERA), has engaged the Economic and Financial Crimes Commission (EFCC) to strengthen collaboration aimed at curbing real estate fraud in the state.
Speaking during a working visit by officials of the Lagos State Ministry of Housing to the EFCC Lagos Zonal Directorate 2 office, the Permanent Secretary, Ministry of Housing, Abdulhafis Toriola, said the engagement marks a step toward building a transparent, secure and investor-friendly real estate sector that protects residents and promotes sustainable housing development.
According to him, “the collaboration with the EFCC would further strengthen regulatory compliance and enhance public confidence in real estate transactions across Lagos State.”
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Toriola emphasised that the state government remains committed to transparency, accountability and professionalism in the sector, adding that it will continue to engage critical stakeholders to sanitise the space.
In his remarks, Acting Zonal Director, EFCC Lagos Zonal Directorate 2, Bawa Usman Kaltungo, expressed readiness to collaborate with LASRERA by leveraging the commission’s investigative capacity to identify and prosecute individuals and organisations involved in fraudulent real estate activities.
Kaltungo, who cited several EFCC cases related to real estate fraud, commended LASRERA for championing the LASRERA Law 2022, noting the need to strengthen enforcement to improve compliance and protect the public.
“There is a need for continuous information sharing and coordinated operations in tackling emerging threats within the sector and we must also adopt stricter enforcement measures, including the blacklisting of fraudulent estate agents,” he stressed.
Both agencies agreed to sustain regular engagement, joint sensitisation campaigns and coordinated enforcement operations to deter criminal activities while promoting ethical standards and compliance with existing real estate laws in Lagos State.
