Lagos-EFCC Alliance Targets Real Estate Fraudsters in New Bid for Ethical Investments

Lagos State Takes Aim at Real Estate Fraud with EFCC Partnership

Cracking Down on Corruption:

The Lagos State government is joining forces with the Economic and Financial Crimes Commission (EFCC) to tackle rampant fraud plaguing the real estate sector.

This strategic partnership, formalized on Thursday, signifies a commitment to protecting investors and promoting ethical practices in the crucial industry.

LASRERA Leads the Charge:

Barakat Odunuga-Bakare, the Special Adviser on Housing, spearheaded the initiative, leading the Lagos State Real Estate Regulatory Authority (LASRERA) team in a productive meeting with the EFCC.

Recognizing the damaging impact of real estate fraud on individuals and the economy, she emphasized the need for swift and decisive action.

Uniting Expertise:

“By teaming up with EFCC, we are sending a strong message that such practices will not be tolerated,” declared Odunuga-Bakare.

The EFCC’s renowned expertise in financial crime investigation combined with LASRERA’s regulatory authority empowers the partnership to effectively combat fraudulent activities.

EFCC Welcomes Collaboration:

Michael T. Wetkas, Assistant Commander and Zonal Commander of the EFCC, enthusiastically endorsed the collaboration.

He acknowledged the surge in real estate-related complaints received by the commission, highlighting the pressing need for joint efforts.

Restoring Investor Confidence:

This partnership aims to restore investor confidence in Lagos’ booming real estate market.

By cracking down on fraudulent schemes and safeguarding investments, LASRERA and the EFCC hope to foster a transparent and thriving real estate landscape in the state.

Looking Ahead:

With this new alliance in place, Lagos is poised to make significant strides in curbing real estate fraud and upholding ethical standards within the industry.

The combined expertise and resources of LASRERA and the EFCC offer a beacon of hope for investors and a clear message to perpetrators: your days are numbered.