The Lagos State Government on Tuesday said it has confiscated two houses discovered to be used in defrauding residents in the state.
The Special Adviser to the Governor on Housing, Mrs. Toke Benson Awoyinka, revealed this at a press briefing to commemorate the first year of the Babajide Sanwo-Olu administration in the state
She said the government has resolved to take strong measures to stop developers or agents from defrauding members of the public and therefore anyone caught in the act would be prosecuted.
Benson, who is also in charge of the Lagos State Real Estate Transaction Department (LASRETRAD), said her office is currently prosecuting a developer who duped members of the public in the Ketu area, and also another developer who defrauded people in the Mafoluku area.
She said the government has also seized their properties and her office is working on how to sell the properties. According to her, the proceeds from the sale would be used to settle the defrauded members of the public.
She, however, appealed to members of the public to always patronize agents and developers who are registered with her agency.
Awoyinka said: “We have successfully reviewed the Lagos State Estate Agency Regulatory Law, Cap L28, Laws of Lagos State, 2015 (“Law”) presently in operation in the state, which provides for the establishment of the Lagos State Real Estate Regulatory Authority.
“The essence of this Law is to regulate real estate transactions in Lagos State by identifying persons eligible to be licensed as Real Estate Practitioners and providing for the issuance or renewal of annual permits.”
She pointed out that the authority has the responsibility to maintain a register of Licensed Real Estate Practitioners and the sanctioning of unlicensed Estate Agents in the state.
“There is a need to sanitize Real Estate transactions in Lagos State. In achieving this, the state must have a data-base of persons dealing in Real Estate Transactions for it to control their activities.
“Thus, the state must amend the Law to reflect its efforts in monitoring the transactions of real estate in a way that is proactive so as to protect its citizens and rid the State of fraudsters,” she added.