In a move that has raised fresh concerns about property scams in Lagos, authorities have shut down the office of a suspected fake estate agent.
The Lagos State Real Estate Regulatory Authority (LASRERA) carried out the operation in Owutu, Ikorodu. The office of Demeny Ventures was sealed during the enforcement exercise.
According to officials, the suspect allegedly posed as a registered agent. A fake LASRERA registration number was reportedly used.
The operation was conducted alongside the State Task Force. It followed credible intelligence about ongoing fraudulent activities.
Meanwhile, the suspect is accused of deceiving unsuspecting clients. Many victims were said to be accommodation seekers.
“Today’s operation is in response to reports of an individual in this area impersonating LASRERA with a fake registration number and defrauding unsuspecting members of the public, particularly accommodation seekers,” said Deji Badejo.
The office was sealed in line with existing laws. Further investigations are currently ongoing.
However, this incident is not isolated. Authorities say complaints about fake agents have been increasing.
Many victims reportedly lose money through deceptive practices. In some cases, properties are sold to multiple buyers.
“Reports indicate that fraudulent practitioners often collect money from multiple tenants for the same property or sell non-existent plots of land to unsuspecting buyers,” Barakat Odunuga-Bakare explained.
Therefore, the crackdown is seen as a necessary step to protect residents.
Moreover, the Lagos State Government has reaffirmed its commitment to regulating the sector. Only registered practitioners are allowed to operate legally.
Unlicensed operators, however, will face strict penalties. Authorities have warned that enforcement will continue across the state.
In addition, monitoring systems have been strengthened. This includes better tracking of transactions and faster response to complaints.
Residents have been urged to remain cautious when dealing with property agents. Verification of registration status is strongly advised.
Furthermore, suspicious activities should be reported immediately. Dedicated hotlines have been provided for this purpose.
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The LASRERA enforcement teams are expected to expand operations to other areas.
