The Lagos State Real Estate Regulatory Authority (LASRERA), has solicited for a working relationship with the Lagos State Signage and Advertisement Agency (LASAA) and the Lagos State Police Criminal Investigation Department (SCID), in a bid to achieve its mandates of regulating, registering, monitoring and restoring sanity in the Real Estate Sector.
The Special Adviser to the Lagos State Governor on Housing, Mrs. Toke Benson-Awoyinka, who paid a courtesy visit to the two organisations, said the visitation and request for collaboration was to convince members of the public that the Agency has the support of all relevant stakeholders to achieve the vision of LASRERA.
According to her, “The Agency's collaboration with Lagos State Signage and Advertisement Agency would assist in curbing the placement of unverified and misleading advertisements by Real Estate Practitioners and Property Developers across the State since all advertisements in Lagos must be approved by LASAA”. “In addition, it became necessary to establish a working relationship with the State C.I.D in order to curb the menace of the fraudulent practices of unauthorised persons in the sector as well as sanitise the entire Real Estate industry. The partnership would also ensure that due process, in the prosecution of recalcitrant practitioners is followed”, she added.
Benson-Awoyinka restated the commitment of the present administration to protecting the rights of all citizens who are seeking to rent, buy, or sell property in Lagos. Noting that the real estate industry is very essential to the socio-economic development of Lagos State, she stated that the collaboration will transform and reduce the rate of fraudulent practices by dubious minded realtors once they are aware of the consequences of their illegal acts.
The Special Adviser, therefore, assured that all registered Real Estate Practitioners and Property Developers are now duty-bound to operate with a high sense of professionalism or risk being prosecuted by the State Government. Responding, the Deputy Commissioner of Police, SCID, Mrs. Yetunde Longe, stressed the need for a separate Court to handle the issues and matters on fraud in the State because of the volume of workload on Magistrate Courts across the State.
She said that people visit the CID Yaba to complain of different fraudulent activities which often take a long time to investigate, suggesting that with the collaboration with the Agency and the creation of a Special Court, it will be easy to promptly prosecute all persons guilty of fraudulent practices in the State. Longe, however, assured LASRERA of the support of the Nigerian Police on the issue of fighting fraudulent activities perpetrated in the Real Estate Sectors in the State.
On his part, the Managing Director, Lagos State Signage and Advertisement Agency (LASAA), Prince Adedamola Docemo, informed that LASAA would support LASRERA by asking for the Agency’s registration from advertisers before granting approval for placement of any advertisement relating to the industry.
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