The Lagos State Real Estate Regulatory Authority (LASRERA) has sealed the office of a suspected fake real estate operator in the Ikorodu area as part of an ongoing clampdown on unlicensed practitioners.
The enforcement action was carried out on Wednesday, March 18, 2026, in collaboration with officials of the State Task Force, according to a statement made available to the media the same day.
The agency identified the affected outfit as Demeny Ventures, whose operator allegedly posed as a registered LASRERA agent using a fake registration number to deceive members of the public.
LASRERA said the move is part of efforts by the Lagos State Government to sanitise the real estate sector, curb fraudulent practices, and restore public confidence in property transactions.
Special Adviser to the Governor on Housing, Barakat Odunuga-Bakare, said only duly registered and certified real estate practitioners are permitted to operate in the state, warning that violators would face strict enforcement actions.
She noted that fraudulent operators often collect money from multiple tenants for the same property or sell non-existent plots of land to unsuspecting buyers.
Odunuga-Bakare added that the authority has strengthened its regulatory framework through enhanced monitoring of real estate transactions, improved registration processes, and swift investigation of complaints.
She urged residents to verify the registration status of estate agents and property developers before engaging in any transaction, while also encouraging the public to report suspicious activities.
Speaking at the sealed premises, the Director of Compliance and Enforcement at LASRERA, Deji Badejo, said the operation followed credible intelligence on the suspect’s activities.
“Today’s operation is in response to reports of an individual impersonating LASRERA with a fake registration number and defrauding unsuspecting members of the public, particularly accommodation seekers,” he said.
Badejo added that the action was taken in line with the provisions of the LASRERA Law 2022, pending further investigation and possible prosecution.
The agency reaffirmed its commitment to ridding the sector of fraudulent actors and ensuring a more transparent and secure real estate market in Lagos State.
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