Lagos Receives Over 1,577 Real Estate Fraud Petitions: Sanwo-Olu’s Aide

The Special Adviser to Governor Babajide Sanwo-Olu of Lagos State on Housing, Barrister Barakat Odunuga-Bakare, revealed that the agency has received over 1,577 petitions between 2020 till date.

The petitions were related to real estate fraud, and the agency has been able to resolve 1,027 of them.

Odunuga-Bakare attributed the rising inflation in the country and the population as major factors affecting the delivery of massive housing schemes to residents in the state’s government’s drive to bridge the deficit.

She also mentioned that the Lagos State government is working to enforce the monthly house-renting policy by the end of the year or early next year, 2025.

The Special Adviser also addressed the issue of the Nigerian economy and the real estate market, stating that the Lagos State government cannot intervene in the rising cost of property due to inflation.

She emphasized that the government is working to ensure that people have access to their facilities, such as homes, through the Ministry of Housing.

Furthermore, Odunuga-Bakare mentioned that her office is working to regulate the real estate sector, which is polluted with various issues.

She called on brokers, developers, agents, and realtors to register and help sanitize the sector.

In response to the effective mortgage policies on housing in advanced climes, the Special Adviser stated that the Lagos State government is open to doing business with the private sector to bridge the housing deficit in the state.

She also mentioned that the government is trying to perfect one thing or the other and that the new administration is committed to seeing the scheme fly.