LASRERA, EFCC to combat real estate fraud

The Lagos State Real Estate Regulatory Authority (LASRERA) and the Economic and Financial Crimes Commission (EFCC) have announced a collaboration to combat fraudulent practices in the real estate sector.NYSC Portal

This partnership emerged following a courtesy visit by the Special Adviser to the Lagos State Governor on Housing, Barakat Odunuga-Bakare, who led the agency‘s management team in discussions concerning the rise of fraudulent activities associated with real estate transactions in the state.

The Special Adviser emphasized that this collaboration is a response to the increasing concerns about real estate fraud in Nigeria.

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She revealed that the combined efforts of both organizations are essential to strengthen regulations and enforce ethical standards within the real estate industry.JAMB Result

The goal is to create a secure and transparent environment for both property buyers and sellers in Lagos State.

She said, “LASRERA and EFCC will work closely to investigate and prosecute individuals and organisations involved in fraudulent practices such as impersonation, property flipping, and document forgery.

“By leveraging their respective expertise and resources, LASRERA and EFCC will strengthen the legal framework and enforcement mechanisms to tackle real estate fraud effectively.”JAMB Portal

Speaking further, Odunuga-Bakare highlighted the importance of the collaboration between the two government agencies in safeguarding the interests of both investors and the general public.

“Real estate fraud not only undermines the integrity of the sector but also poses significant financial risks to individuals and the economy as a whole. By teaming up with EFCC, we are sending a strong message that such practices will not be tolerated, and perpetrators will be held accountable.informationguidenigeria

“The EFCC, known for its expertise in investigating financial crimes, will bring its extensive knowledge and experience to this collaboration. The agency’s mandate aligns perfectly with LASRERA’s mission to regulate and promote ethical practices in the real estate industry,” the special adviser added.

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