November 12, 2024

LASRERA and EFCC Forge Alliance to Eradicate Real Estate Fraud

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In a groundbreaking collaboration, the Lagos State Real Estate Regulatory Authority (LASRERA) and the Economic and Financial Crimes Commission (EFCC) have joined forces to combat fraudulent practices within the real estate sector. The partnership, initiated during a courtesy visit by Barr. Barakat Odunuga-Bakare, the Special Adviser to the Lagos State Governor on Housing, aims to address the growing concerns surrounding real estate fraud in Nigeria.

Expressing the need for joint efforts, the Special Adviser highlighted that LASRERA and EFCC will work closely to investigate and prosecute individuals and organizations engaged in fraudulent practices such as impersonation, property flipping, and document forgery. This collaboration leverages the expertise and resources of both organizations to strengthen the legal framework and enforcement mechanisms, ensuring a secure and transparent environment for real estate transactions.

Odunuga-Bakare emphasized the importance of safeguarding the interests of investors and the general public, asserting that real estate fraud not only undermines the sector’s integrity but also poses significant financial risks. The partnership sends a strong message that such practices will not be tolerated, and wrongdoers will be held accountable. The collaboration aligns with LASRERA’s mission to regulate and promote ethical practices in the real estate industry.

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