Lagos State Government Cracks Down on Unlicensed Real Estate Operators

In a decisive move to sanitize the real estate sector and protect investors, the Lagos State Government has launched a crackdown on individuals and companies operating without proper licenses in the state’s booming property market.

According to the Lagos State Real Estate Regulatory Authority (LASRERA), the operation targets unregistered real estate practitioners, including developers, agents, and firms flouting regulatory requirements. The government emphasized that all real estate transactions must be conducted by duly registered professionals in compliance with the Lagos State Real Estate Regulatory Law.

Speaking during a press briefing, the Special Adviser to the Governor on Housing, Mrs. Barakat Odunuga-Bakare, noted that the unregulated activities of quacks have led to widespread fraud, loss of funds, and eroded public confidence in the real estate industry.

“We cannot allow unscrupulous individuals and companies to keep defrauding innocent residents. This enforcement drive is part of our commitment to make Lagos a safe, secure, and investor-friendly real estate hub,” she said.

LASRERA disclosed that several defaulting practitioners have already been served warning notices, while others are currently under investigation. Going forward, violators risk facing heavy penalties, business closures, and possible prosecution.

The agency also urged prospective land and property buyers to verify the status of developers and agents through its online platform before committing to any transactions.

The Lagos State Government reaffirmed its dedication to fostering professionalism, transparency, and trust in the real estate sector—calling on stakeholders to comply with regulatory standards or face the full weight of the law.

Residents and industry players are encouraged to report suspicious or illegal activities to LASRERA via its official channels.

For verification and registration of real estate practitioners, visit www.lasrera.lagosstate.gov.ng