Special Adviser to the Lagos State Governor on Housing, Adetoke Benson-Awoyinka, speaks on how the state government will use the newly established Lagos State Real Estate Regulatory Authority to tackle challenges being faced by residents and other stakeholders in the real estate sector of the economy. Raheem Akingbolu brings the excerpts.
What does LASRERA seek to achieve for Lagos State government and citizens?
The aim is to ensure the creation of an innovative and sustainable environment to promote Lagos as a real estate investment destination in Africa. We want everything about housing and real estate Lagos to be well regulated. We want to know the agents and their offices so that when anything comes up, we can defend our people. For agents who shortchange people, we want to ensure that we go through the full length of the law to get them prosecuted. So, if you defraud people, you will be charged with obtaining by false pretense under the criminal code of the law, and we will make sure the court system prosecutes you to the fullest and the properties are forfeited. That’s the big punishment for whoever is defrauding people, but also a relief