The Lagos State Real Estate Regulatory Authority (LASRERA) has solicited for a seamless working relationship with the Lagos State Signage and Advertisement Agency (LASAA) and the State Criminal Investigation Department (CID) Panti, Yaba in its drive to achieve its mandate of regulating, registering, monitoring and achieving sanity in the real estate sector.
The Special Adviser to the Lagos State Governor on Housing, Mrs Toke Benson–Awoyinka, who paid a courtesy call to the offices of the two organizations on Wednesday, said the intention of the visitation and request for collaboration was to convince members of the public that the Agency had the support of all relevant stakeholders that would make the attainment of its vision possible.
She said the Agency’s collaboration with Lagos State Signage & Advertisement would assist in curbing the placement of unverified and misleading advertisements by Real Estate Practitioners and Property Developers across the state since all advertisements in the state are approved by LASAA.
Mrs Benson- Awoyika stated that it became necessary to collaborate with the State C.I.D so as to curb the menace of the fraudulent practices of unauthorized persons in the Sector and to sanitize the entire Real Estate industry stressing that due process of prosecution would be followed in dealing with a recalcitrant practitioner.
She restated the commitment of Governor Babajide Sanwo-Olu to protect the rights of all residents of the State both at Home and Abroad who are either seeking to rent, buy or sell properties in the State.
The Special Adviser said real Estate transaction is an important economic activity to the state as oil is to the country, added that the collaboration will transform and reduce the rate of fraudulent practices ones people are aware that they can be prosecuted by the Law of the State.
Mrs. Benson- Awoyinka assured the residents that all registered Real Estate Practitioners/Property Developers with the Agency are now duty-bound to operate with a high sense of professionalism or risk being prosecuted by the State Government.
Responding, the Deputy Commissioner of Police, SCID, Mrs. Yetunde Longe, stressed the need for a separate court to handle the issues and matters on frauds in the State because of the volume of workload on Magistrate Courts across the State.
She said that people visit the CID Yaba to complainant different issues including fraudulent activities which often take a long time to conclude its investigation but with the collaboration with the Agency and assigned Court, it will be easy to prosecute any acts of fraudulent practices in the State.
Mrs Longe assured of the support of the Nigerian Police on the issue of fighting fraudulent activities practices perpetrated through the Real Estate Sectors in the Country.
The Chairman, Yaba Local Government Development Area, Hon. Kayode Omiyale pledged the support of its Local Government Council to provide office space for the Agency’s Zonal Office, in order to ease registration for Real Estate Practitioners/ Property Developers within the Area.
On his part, LASA Managing Director, Mr. Adedamola Doceme, assured the Agency that LASAA would support LASRERA by asking for LASRERA registration before granting approval for placement of advertisement by any of the Agency’s stakeholders.