Lagos recovers N270m from fraudulent estate agents

The Lagos State Government has recovered more than N270 million from fraudulent estate agents and property developers on behalf of residents affected by real estate fraud across the state.

The Commissioner for Housing, Moruf Akinderu-Fatai, disclosed the development during the 2026 Ministerial Press Briefing held at the Bagauda Kaltho Press Centre in Alausa, Ikeja.

According to the government, the recovery reflects ongoing efforts to protect residents from exploitation, fraudulent transactions, and unethical practices within the real estate sector.

Authorities said the Lagos State Real Estate Regulatory Authority (LASRERA) has intensified regulatory oversight through public sensitisation campaigns, stakeholder engagement, and enforcement operations aimed at restoring confidence in the property market.

The government also revealed that awareness campaigns were carried out across the 57 Local Government Areas and Local Council Development Areas to educate residents on safe property transactions and discourage illegal real estate practices.

The state government urged residents to verify estate agents and developers through official LASRERA channels before engaging in property transactions.