The Lagos State Real Estate Regulatory Authority has moved to forge closer ties with the Economic and Financial Crimes Commission in a bid to stamp out fraudulent practices in the state’s property market.
According to a statement drawn from the Lagos State Government’s Facebook page on Sunday, officials of LASRERA recently made a courtesy call on the EFCC’s Lagos Zonal Directorate I to reinforce existing cooperation between the two agencies on property-related fraud.
The Permanent Secretary in the Ministry of Housing, Abdulhafis Toriola, said the visit was designed at “deepening collaboration to identify, investigate and prosecute individuals and organisations involved in fraudulent real estate practices, including property flipping, document forgery and other related crimes.”
Both agencies agreed, according to the statement, that a stronger working relationship would sharpen enforcement and offer members of the public better protection against fraud in the property sector.
The Assistant Commander of the EFCC, Adebayo Adeniyi, said “complaints relating to the real estate sector accounted for a significant proportion of cases handled by the commission, highlighting the need for sustained inter-agency cooperation.”
He added that tighter collaboration between the anti-graft agency and LASRERA would strengthen the fight against fraud and improve accountability across the industry.
The two bodies reaffirmed their resolve to blend LASRERA’s regulatory oversight with the EFCC’s investigative and prosecutorial powers in order to sanitise the sector and ensure that fraudulent estate agents and property developers face justice.
Toriola also restated LASRERA’s commitment to continued engagement with relevant government institutions, including the EFCC, as part of efforts to regulate the market, tighten monitoring and promote transparency across Lagos State.
The engagement ended with Adeniyi presenting a commemorative gift to Toriola as a symbol of the partnership and the shared determination of both agencies to root out fraudulent practices in the built environment.
Source: Punch.
Comments 0