1,577 Petitions On Real Estate Fraud Received In Four Years – Lagos

• Over 1,500 petitions on real estate fraud received in 4 years

• Lagos housing adviser disclosed info at press briefing

• 8 cases now in court concerning real estate fraud

Eko Hot Blog reports that the Special Adviser to Lagos State Governor on Housing, Barakat Odunuga-Bakare, has disclosed that the Lagos State Real Estate Regulatory Authority has received over 1,577 petitions regarding real estate fraud from 2020 till date.

She disclosed this during a press briefing in Alausa, Ikeja, on Thursday.

“We have received well over 1,577 petitions from the inception of the agency in 2020 till date, we have been able to resolve 1,027, and we have eight cases in court concerning real estate fraud,” she said.

Odunuga-Bakare lamented that the sector is polluted with both good and bad developers, adding that she has been calling on brokers, developers, agents, and realtors to come and register to sanitise the real estate sector.

“The bad ones do not make you see the good ones as doing anything. An association still came to my office yesterday, they noted they had about 4,000 people practising real estate as part of their organisation, on asking them how many were registered practitioners, they could not answer,” she added.

She also noted collaboration with the private sector and said the state was open to partnering with the public to bridge the housing deficit gap.

Speaking on registered practitioners, the adviser disclosed they had less than 1,000 registered so far out of over 100,000 practising real estate in Lagos.

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