In a sweeping crackdown on real estate fraud and property disputes, the Lagos State Government has recovered N773.6 million and 38 properties for residents in the last two years through the efforts of the Lagos State Real Estate Regulatory Authority (LASRERA).
The Lagos State Government recoveries, which span 2024 and the first quarter of 2025, were made through alternative dispute resolution mechanisms deployed by the agency to protect property investors and tenants from fraudulent dealings by unregistered agents, land vendors, and developers.
The latest figures were disclosed during the ministerial briefing to mark the second anniversary of Governor Babajide Sanwo-Olu’s second term in office.
According to LASRERA, N478.13 million and 18 properties were recovered in 2024, while N295.47 million and 20 properties were secured in 2025. These recoveries were made through mediations between affected residents and culprits involved in deceptive or unlawful real estate practices.
“Our mandate is to protect investors in the state from illegal property transactions,” LASRERA said in its statement. “Notably, we intervened in the alleged N40 million land scam involving Revolution Plus Property Limited and a Nigerian in the Diaspora.”
LASRERA warned Lagosians to avoid patronizing unregistered real estate agents and firms. The agency emphasized that only individuals and organizations registered under its platform are legally permitted to operate in the state’s real estate sector.
It said over 2,550 practitioners have enrolled for registration, but only 925 individuals and organizations have been verified and approved so far.
“It is a punishable offence for anyone to practice real estate in Lagos State without LASRERA registration,” the agency stressed. “We encourage the public to verify agents through our portal before committing to any transaction.”
As part of its regulatory operations, LASRERA has received a total of 1,899 complaints involving real estate disputes to date. Out of this number:
1,580 cases were mediated,
1,243 were successfully resolved,
23 were adjourned for further sessions,
147 were abandoned due to non-compliance by parties, and
172 cases were referred to other relevant agencies.
Eight cases have escalated to the courts — two at the Federal High Court, three at the Lagos State High Court, and three at Magistrate Courts.
In addition to dispute mediation, LASRERA has intensified public sensitization campaigns to educate residents about their rights and the risks associated with unverified property transactions.
The agency is also working to enhance transparency in Lagos’ real estate sector by providing a verified database of agents and developers, which residents can access for free via its website.
This initiative is aligned with Governor Sanwo-Olu’s administration’s broader commitment to ensure a safer, regulated housing market that encourages investor confidence and protects citizens from exploitation.
Real estate experts have applauded the agency’s proactive stance in restoring public trust in the sector. However, they also urged the government to strengthen legal frameworks and enforcement against defaulting agents and property developers who exploit legal loopholes.
As property demand continues to rise in Lagos, a city with a population of over 20 million, LASRERA’s role has become more critical in preventing land grabbing, tenancy fraud, and development scams.
The agency says it will continue to deploy alternative dispute resolution and legal interventions to safeguard the interests of Lagosians while upholding the integrity of the state’s real estate market.