The Lagos State Real Estate Regulatory Authority, LASRERA, has sealed the office of an alleged impostor operating as a real estate agent in the Ikorodu area of Lagos State.
During the operation, the office of Demeny Ventures was shut down after the individual behind it was accused of posing as a certified LASRERA agent and allegedly using a fake registration number to mislead members of the public.
The Special Adviser to the Governor on Housing, Barakat Odunuga-Bakare, said the move forms part of the government’s effort to sanitise the real estate industry, protect residents from fraud, and rebuild trust in property transactions across the state.
She stressed that only agents and developers duly registered with LASRERA are authorised to operate in Lagos, warning that defaulters would face strict regulatory action.
According to her, several fraudulent operators have been known to collect rent from multiple tenants for the same property or sell non-existent land to unsuspecting buyers, leaving victims with significant financial losses.
Odunuga-Bakare urged residents to always verify the credentials of estate agents and property developers before engaging in any transaction, and encouraged the public to report suspicious activities to LASRERA for prompt intervention.
At the scene of the operation, the Director of Compliance and Enforcement, Deji Badejo, said the action was based on credible intelligence regarding fraudulent activities linked to the suspect.
He explained that the enforcement exercise followed reports that the individual had been impersonating LASRERA and defrauding unsuspecting residents, particularly those seeking accommodation.
Badejo noted that the operation was carried out in line with the provisions of the LASRERA Law 2022, pending further investigation and further regulatory measures.
