LASRERA seeks professionals support to curb fraudulent activities
By Uwana Akpan
Lagos State, Real Estate Regulatory Authority (LASRERA) has appealed to all practitioners in a diverse field of endeavour to join hands with the government to eliminate illicit activities in the real estate industry.
The special adviser to the Lagos state governor on housing, Mrs Toke Benson – Awoyinka, on Monday said that government is bringing perpetrators to book in accordance with the provision of the state law.
The special adviser who revealed this during Alphacrux Real Estate Outlook Conference to journalists in Lagos said, Alphacrux Real Estate Outlook usually have an annual gathering of professionals experts, developers, economist and investors in the real estate’s industry to share knowledge, make review, predict and discuss business year.
According to her, “If an unethical practice is totally eradicated and integrity is restored to the Nigerian real estate, the industry would experience a huge investment from international bodies and would in turn benefit many individuals, the state and Nigeria in particular.”
She emphasized that, the economic growth of any nation is dependent on the collective effort of individuals, business institutions, public and private organizations.
Also stressing on transparency, she said, “Real estate should operate an open market to invite private investors to participate in the the industry, this is what Lagos real Estates regulatory authority stands for.”
Benson-Awoyinka commended LASRERA on their achievement within the short period of time in creating awareness about the office.
She maintained that, the relationship between LASRERA and the regulatory bodies has a thin line.
In her words; “I’m always quick to make this clarification in every gathering that involves relevant stakeholders in the real estate sector that LASRERA was not established to assume the position of the existing professional regulatory body rather the agency should be able to work hand in hand with existing regulatory bodies to sanitize the sector together.”
She said, “LASERA came into being as a response to perceived and reported cases of fraudulent activities in the real estate sector, constitutionally, the duty of a government is to protect lives and property.
“However, it would be insensitivity on the part of the government to have million of Lagosians who have, at one time or the other, fallen victim of this fraudulent act.”
She, however, warned that, buyers should be careful where they are investing to avoid falling into the hands of fraudsters.
She expressed her optimism that, reported cases of illegal activities will be curtailed so that genuine practitioners will be able to render good services to the public in need of real estate property within the state.
She also commended the efforts of the organizer of the event for recognising the efforts of Lagos State governor, Babajide Sanwo-Olu for his support in real estates activities in the estate.
