The Lagos State Government says it has recovered more than N270 million from fraudulent estate agents and property developers on behalf of victims of property scams across the state.
According to a report by PUNCH Newspapers, the Commissioner for Housing, Moruf Akinderu-Fatai, disclosed this during the 2026 Ministerial Press Briefing at the Bagauda Kaltho Press Centre in Alausa, Ikeja.
Akinderu-Fatai said the recovered sum of N270,020,500 highlighted the state government’s commitment to protecting residents from exploitation and unethical practices in the real estate sector.
He explained that the Lagos State Real Estate Regulatory Authority had intensified enforcement operations, stakeholder engagement, and public awareness campaigns to restore confidence in Lagos’ property market.
“The recovery of N270,020,500 underscores the state government’s commitment to protecting residents from exploitation, fraudulent transactions and unethical practices within the real estate sector,” the commissioner said.
The commissioner added that LASRERA organised sensitisation forums across the 57 Local Government Areas and Local Council Development Areas in Lagos to educate residents on safe property transactions and discourage illegal practices by operators in the sector.
He also revealed that the agency stepped up awareness campaigns through billboards installed in locations including Surulere, Ikorodu, Epe, Badagry, Marina, and Alausa. The campaign encouraged residents to deal only with registered estate practitioners.
Akinderu-Fatai noted that LASRERA maintains a database of accredited estate agents and developers to help residents verify practitioners before entering into property transactions.
As part of efforts to improve accessibility, the commissioner announced the opening of a new LASRERA satellite office in Surulere, bringing the total number of satellite offices to four alongside those in Ikorodu, Agege, and Ojodu.
He said the decentralisation initiative was designed to improve response times to complaints and strengthen grassroots engagement.
The commissioner further disclosed that LASRERA, working with the Lagos State Task Force, sealed the office of an alleged unregistered operator, Demeny Ventures, in Owutu, Ikorodu, for allegedly posing as a registered LASRERA agent.
Akinderu-Fatai added that the agency recently hosted the sixth edition of the LASRERA Marketplace, bringing together developers, legal experts, estate practitioners, and residents to discuss compliance and ethical standards in the industry.
He urged Lagos residents to remain vigilant, verify practitioners through official LASRERA channels, and report suspicious real estate activities promptly.
