LASRERA Seals Office of Suspected Fake Realtor in Ikorodu, Begins Crackdown on Unlicensed Agents
The Lagos State Real Estate Regulatory Authority (LASRERA) has sealed the office of a suspected impostor operating as a licensed realtor in Ikorodu, Lagos State, as part of a wider enforcement drive targeting unregistered practitioners.
The agency disclosed that the operation, carried out on Wednesday in collaboration with officials of the Lagos State Task Force, led to the closure of Demeny Ventures, whose operator allegedly posed as a registered LASRERA agent using a fake registration number.
According to a statement, the enforcement action forms part of the state government’s renewed efforts to sanitise the real estate sector and protect residents from fraudulent property transactions.
Speaking on the development, the Special Adviser to the Governor on Housing, Barakat Odunuga-Bakare, said the clampdown is aimed at restoring public confidence in the sector.
She emphasised that only duly registered and certified practitioners are permitted to operate within Lagos State, warning that individuals and organisations engaging in illegal real estate activities would face strict sanctions.
Odunuga-Bakare noted that fraudulent agents often exploit unsuspecting members of the public by collecting payments from multiple tenants for the same property or selling non-existent plots of land.
She added that LASRERA has strengthened its regulatory framework through improved monitoring of real estate transactions, enhanced registration processes, and swift investigation of complaints.
Also speaking, the Director of Compliance and Enforcement at LASRERA, Deji Badejo, said the action followed credible intelligence regarding the suspect’s activities.
“Today’s operation is in response to reports of an individual impersonating LASRERA with a fake registration number and defrauding unsuspecting accommodation seekers,” he said.
Badejo stated that the enforcement was carried out in line with the provisions of the LASRERA Law 2022, adding that further investigations are ongoing.
The agency urged residents to verify the registration status of estate agents and developers before engaging in property transactions and to report suspicious activities for prompt action.
