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Lagos aims to establish an agreement with real estate professionals to address fraudulent practices within the estate agency sector
The Lagos State government has called for collaboration with real estate agents to combat fraud and other unethical activities in the state’s real estate market.
According to the state, partnering with and gaining the cooperation of real estate agents is crucial in addressing the prevalence of fraud targeting unsuspecting residents seeking to buy or rent properties.
Instances have arisen where estate agents have rented out the same apartment to multiple prospective tenants, absconding with their funds. Similarly, numerous home and land buyers have fallen victim to fraudsters posing as estate agents.
Barakat Odunuga-Bakare, Special Adviser to Governor Babajide Sanwo-Olu on Housing, emphasized the importance of tackling agency fraud, which led to the establishment of the Lagos State Real Estate Regulatory Authority (LASRERA).
Speaking at an International Investment Summit hosted by the Association of Estate Agents in Nigeria (AEAN) in Lagos, themed ‘Regulation and Transparency: Promoting Investment and Development within the Real Estate Sector,’ Odunuga-Bakare, representing the governor, urged AEAN to prioritize restoring investors’ confidence, especially among those in the Diaspora. She stressed the need for professional bodies to address issues related to fake or unethical practitioners.
Odunuga-Bakare revealed that LASRERA, empowered by a state law signed by the governor, is tasked with issuing and renewing permit licenses annually, investigating complaints against licensed and unlicensed real estate practitioners and developers, and imposing sanctions when necessary. The agency is also responsible for eradicating unethical real estate transactions and providing training for practitioners in the sector.
In exercising this mandate and promoting investment and development in this sector, the special adviser said LASRERA has made commendable progress, having addressed grievances that emanated from real estate transactions in the State, and resolved 1027 out of 1577 petitions received.
“Worthy of note is the agency’s intervention in an alleged N40 million land scam involving one Kayode Oladipo. The outcome of the case exemplifies our commitment to transparency and zero-tolerance for fraudulent activities in the state’s real estate sector,” she said.
Continuing, she said, “LASRERA registers only qualified real estate professionals who are registered with recognized organizations that operate in the sector. This measure mitigates the risks associated with unregistered agents and briefcase operators prevalent in this state.”
Odunuga-Bakare noted that as governments worldwide safeguard investor-interests, it is imperative that the state provides a conducive environment and adhere to international best standards, pointing that LASRERA actively engages in public awareness campaigns to educate citizens on their rights and responsibilities in real estate transactions.
On their part, the commissioners of Housing, and Physical Planning and Urban Development, Moruf Akinderu-Fatai and Oluyinka Olumide respectively, also solicited the co-operation of the private sector operators in the areas of increasing the state’s housing stock and also compliance to planning permit.
Akinderu-Fatai said the state needs the partnership of private developers in its efforts to provide housing for the ever-growing population of the state and also to close existing housing deficit estimated at three million units.
Olumide revealed that the state has a 20-year development plan, spanning 2024 – 2044, saying that the officials of the state want estate professionals to join hand with them to implement the plan.
He added that the state is also working on value-enhancement of the city centres which, he hoped, would be of benefit to the professionals. “Because of what happened at the Dosumu Market fire where emergency responders could not gain access to the scene of the incident, we are going to enforce building permit approvals strictly,” he said.
“Government is also planning an amnesty programme for properties that have been built without planning permit. This will give owners of such properties opportunity to come forward and register them and also do the necessary survey with the relevant government agency,” he said.
The commissioner mentioned that they were collaborating with banks to ensure that individuals seeking loans for housing development without the requisite registered survey and building plan permits for such constructions would not be approved for the loans they seek.
“We are also going to enforce stage certification of buildings to ensure that builders comply with planning approvals; that what the developer is doing complies with specifications and all the details as specified in the approved plan,” he said, adding that any building that does not comply with all these will be demolished by the state’s building control agency.
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Lagos schedules meeting with owners of distressed buildings.
The Lagos State Government has said it would soon arrange a meeting with developers/owners of distressed buildings on how best to address the redesign and remodelling of such structures by November.
This was disclosed recently by the Commissioner for Physical Planning and Urban Development, Oluyinka Olumide, at a function in Alahusa, Lagos.
Olumide said the prevalence of distressed buildings in different parts of the state was worrisome and needed the urgent attention of all stakeholders.
He said, “The Ministry of Physical Planning and Urban Development as mandated by the Lagos State Urban and Regional Planning and Development Law, 2019, as amended, was willing to extend its responsibility for approving the remodelling of existing buildings to provide technical assistance to developers and owners of distressed buildings, especially on the design and remodelling of such buildings.
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FG threatens contractors over Enugu-Onitsha road delay
The Federal Government has instructed the contractors responsible for the 107km Enugu-Onitsha road dualization to expedite the project.
This directive was given by the Minister of Works, Senator David Umahi, during a meeting with MTN, the Enugu State Government, and the contractors, RCC Ltd and Nigercat Ltd, on Friday.
According to a statement released on Friday, the minister said he is disappointed over the slow pace of work on the project, he said, “Let me express my disappointment over the slow pace of work on that project. It is one of the worst roads in this country.
“Everywhere we have diversion; diverting from the one that RCC and Nigercat had completed, the contractors are not kind enough to even put stone based on the diversion points.”
He added, “So, by the reason of the launching of our Operation Free our Roads, it is now a violation of the policy on the side of the controllers and directors of the Federal Ministry of Works where we have vehicles falling on any project that is ongoing or where there are potholes on our roads.”
He also blamed the sufferings of road users on the lack of commitment and insensitivity of the contractors.
“The public must know that the President’s intention is not for them to suffer while trying to fix the roads, and it is their right to insist that contractors should fix the roads that they are engaged on,” he said.
The Minister commended the Enugu state government for their resolve to fund the construction of a 20 KM section of the road and expressed hope that MTN would execute the second phase of the project.
He noted, “Why the Enugu State government is intervening is because of the slow pace of work by the contractors and because of funding issues. The essence of tax credit is for funds to be made available. And so, I don’t see RCC going to keep their promise to finish this project in 6 months.
“My advice to MTN is to look for another contractor within that axis if they want to get the job done. Division of labour is even the best. While they are doing the road, and if Nigercat is doing a good job, you can give them greater scope to do if you want to finish that job.”
He warned contractors that the Federal Government would not accept phased handovers of projects and has phased out Variation of Price in contract administration.
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Ekiti state government mediates land dispute between traditional ruler and family in Epe-Ekiti
The Ekiti State government has intervened to resolve a longstanding land dispute between the Elepe of Epe-Ekiti, Oba Ayodele Adesoye, and the Atolagbe family. The government cautioned against the misuse of modernization as an excuse to disregard traditional customs.
In line with the community’s traditions, the government has ordered the release of resources, including palm trees at Oko Oba Farmland, to Oba Adesoye for his administration. This decision ensures the continued adherence to age-old practices.
Ekiti State Deputy Governor, Chief (Mrs) Monisade Afuye, announced the resolution in Ado-Ekiti. The decision was made after considering the Elepe’s claim to Oko Oba Farmland based on historical evidence.
Mrs. Afuye acknowledged the Elepe’s right to be the custodian of Oko Oba Farmland, citing longstanding traditions that support his claim. The decision reflects the importance of respecting historical practices and ensuring their preservation.
The deputy governor, however, told the monarch in clear terms that other princes and princesses from all the three ruling houses should be allowed to farm on the land without payment of royalty.
Mrs Afuye appealed to the community to comply with the government’s position to restore unity, peace and orderliness to the beleaguered community.
Oba Adesoye expressed gratitude for the government’s decision and pledged to foster peace and unity between the throne and the community, aiming to accelerate Epe’s development.
Representing the Atolagbe family, Dr. Yemi Agbeleoba acknowledged their willingness to cede Oko Oba Farmland to the monarch. However, he emphasized the need for all three ruling houses to participate for a lasting and traditional solution.
Agbeleoba expressed appreciation for the government’s directive, believing it will contribute to resolving the long-standing conflict.
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