{"id":160281,"date":"2021-08-09T14:03:33","date_gmt":"2021-08-09T13:03:33","guid":{"rendered":"http:\/\/www.citypeopleonline.com\/?p=160281"},"modified":"2021-08-09T14:03:37","modified_gmt":"2021-08-09T13:03:37","slug":"how-lagos-govt-is-trying-to-curb-fraud-in-real-estate-laserera","status":"publish","type":"post","link":"https:\/\/www.citypeopleonline.com\/how-lagos-govt-is-trying-to-curb-fraud-in-real-estate-laserera\/","title":{"rendered":"How LAGOS Govt. Is Trying To Curb Fraud In Real Estate \u2013 LASERERA"},"content":{"rendered":"\n

\u2022Reveals Details During Stakeholders Meeting<\/p>\n\n\n\n

The Lagos State Real Estate Authority, LASRERA on Tuesday, August 3rd, 2021, gathered all the stakeholders in the Real Estate sector to discuss the way forward and how to curb fraudulent activities from all quarters in the business. The event which was headlined by top real estate players, real estate firms, landowners, agents, realtors and as well as government functionaries, discussed the way forward in the sector. Tagged redefining opportunities in real estate, regulation and expectations, the event served as an eye-opener for all and sundry as regards what everyone needs to do or know to be on the side of the law in the sector.<\/p>\n\n\n\n

City People\u2019s DAMILARE SALAMI 08155134152 was at the Oriental Hotel, venue of the event and in this report, he brings you the details of all that went down there.<\/p>\n\n\n\n

SA TO GOV SANWO-OLU ON HOUSING, MRS TOKE BENSON-AWOYINKA REVEALS LASRERA\u2019S PLANS<\/strong><\/p>\n\n\n\n

The event started with the Special Adviser to Governor Babajide Sanwo-Olu on Housing, Mrs Toke Benson-Awoyinka delivering a keynote address. In her speech, she revealed what the LASRERA has done so far and its action points on how to curb fraud in the sector.<\/p>\n\n\n\n

\u201cThe State Government is ready to curb fraudulent activities in this industry with the right laws and regulations. This is in line with this present administration of Governor Babajide Sanwo-Olu\u2019s T.H.E.M.E.S Agenda of making Lagos State a 21st Century Economy. Countries of the World have taken the Real Estate industry as a serious business and have contributed immensely to the Gross Domestic Product of the economies and we cannot be left behind.<\/p>\n\n\n\n

\u201cIn Nigeria, Real Estate remains one of the major investments that attract local and foreign investors. For us in Lagos State, we will not relent in tapping fully into these numerous opportunities. I urge you all to play your part to grow and develop the Real Estate industry in Lagos State,\u201d she said.<\/p>\n\n\n\n

LAGOS STATE ATTORNEY GENERAL, MR. MOYO ONIGBANJO SPEAKS ON THE IMPACT OF THE NEW LASRERA BILL<\/strong><\/p>\n\n\n\n

Mr Moyo Onigbanjo, the Lagos State attorney general and commissioner for justice also delivered a speech at the event. The highly revered legal luminary spoke on the impacts of the new LASRERA Bill on the practice of real estate in Lagos. In his speech, he revealed that the laws are open to criticism and ready for change wherever the stakeholders in the sector deem fit. He clarified that the intention of the law is not to regulate the practitioners, saying that the real estate body already has a body in charge of regulating its activities.<\/p>\n\n\n\n

He added that the law becomes necessary in order to curb fraudulent practices in the real estate sector and also assure investors in the sector of a fair deal as a way of promoting ease of doing business in Lagos State. His words: \u201cWe\u2019re interested in securing the transactions of investors and providing necessary support for all relevant stakeholders in the real estate industry, hence the passage of the new LASRERA law by the legislative arm of the State Government.<\/p>\n\n\n\n

MR GBOYEGA FATIMILEHIN REVEALS HOW REAL ESTATE REGULATION IS AFFECTING REAL ESTATE AGENCY<\/strong><\/p>\n\n\n\n

Mr Gboyega Fatimilehin is the founding partner of the popular Diya Fatimilehin & Co. An outfit that has spent over 40 years in a real estate agency in Lagos. Speaking based on experience garnered in his more than four decades of servitude in the industry, Mr Fatimilehin revealed how important it is for this sector not to be over-regulated. He further said that countries with existing regulatory frameworks for the real estate sector and its services were better able to attract investors. \u201cThis allows for a transparent and effective functioning of the sector and gives the regulators (or government) the financial and administrative independence to aid in the regulations which reassure investors.<\/p>\n\n\n\n