The Lagos State Real Estate Regulatory Authority has sealed a property office in the Ikorodu axis over alleged impersonation and fraudulent activities.
The agency said the action formed part of a wider enforcement drive targeting unlicensed real estate operators across the state.
In a statement released on Wednesday, LASRERA disclosed that the operation was executed in conjunction with officials of the Lagos State Task Force.
The statement revealed that the affected outfit, Demeny Ventures, was allegedly run by an individual who falsely presented himself as a registered LASRERA agent using a fake registration number.
The Special Adviser to the Governor on Housing, Barakat Odunuga-Bakare, said the enforcement exercise was aimed at cleaning up the real estate sector, protecting residents from sharp practices, and strengthening confidence in property transactions.
She reiterated that only agents and developers duly registered with LASRERA are permitted to operate in Lagos, warning that violators would be dealt with in accordance with the law.
According to her, unscrupulous operators often exploit unsuspecting members of the public by collecting multiple payments for a single property or selling land that does not exist.
Odunuga-Bakare further stated that the authority had stepped up its regulatory measures through closer monitoring of transactions, streamlined registration procedures, and timely investigation of complaints.
She advised residents to verify the credentials of estate agents and developers before engaging in any property deals, and urged the public to report suspicious activities to the agency.
An official of the authority, Badejo, noted that the action followed reports of an individual in the area allegedly posing as a LASRERA agent and defrauding accommodation seekers.
He added that the sealing of the office was carried out in line with the provisions of the LASRERA Law 2022, pending further investigations and possible sanctions.
