The Lagos State Government has announced the resolution of more than 1,200 real estate-related disputes and the recovery of nearly N300 million for residents through the Lagos State Real Estate Regulatory Authority (LASRERA), as part of its efforts to sanitise the property sector and protect investors.
At a ministerial press briefing in Alausa, Ikeja, the Commissioner for Housing, Moruf Akinderu-Fatai, described LASRERA as a vital instrument for upholding professional standards and shielding buyers and tenants from fraudulent practices.
According to Akinderu-Fatai, LASRERA has mediated 1,580 out of 1,899 reported cases, successfully resolving 1,243 disputes through its Alternative Dispute Resolution (ADR) framework. Of the remaining cases, 23 are still ongoing, 147 were abandoned, 172 were referred to other agencies, and eight are currently in court—two at the Federal High Court, three at the State High Court, and three at Magistrate Courts.
The Commissioner revealed that the agency’s interventions have resulted in the recovery of N295,471,800 and the return of 20 properties to their rightful owners.
To promote transparency and eliminate unlicensed operators, LASRERA has registered 925 individuals and organisations out of more than 2,550 applicants on its official portal (lasrera.lagosstate.gov.ng). Akinderu-Fatai reiterated that operating without registration constitutes a criminal offence.
“We urge all residents to verify real estate agents and developers via our platform to avoid falling victim to unscrupulous actors,” he said.
Highlighting stakeholder engagement, he noted LASRERA has hosted five consecutive editions of the Lagos Real Estate Marketplace Conference and Exhibition—the latest held in December 2024 under the theme: “Reimagining Lagos Landscape: Ensuring Sustainable Real Estate Development Practices.”
The Commissioner also disclosed that the Ministry has begun enforcing compliance with original master plans across government housing estates, following unauthorised alterations by some allottees. Properties found in breach have been marked for sealing and may be repossessed in accordance with existing agreements.
He added that LASRERA is collaborating with various ministries, departments, and agencies to drive public awareness and implement a unified approach to real estate development and regulation in the state.
“Our mission is clear—protect consumers, enforce standards, and transform the real estate sector into a model of integrity, professionalism, and sustainability,” Akinderu-Fatai stated.
