The Lagos State Real Estate Regulatory Authority (LASRERA) has emerged as a vital protector of real estate investors in Lagos State, demonstrating significant success in mediating disputes and recovering funds and properties for aggrieved parties. Over the course of 2024 and 2025, the agency recovered a substantial sum of N773.6 million, a combined figure representing successful mediations in various real estate disputes. In addition to monetary recoveries, LASRERA facilitated the return of 38 properties to their rightful owners. These accomplishments underscore the agency’s commitment to ensuring a fair and transparent real estate market in Lagos, safeguarding individuals from fraudulent practices and questionable transactions.
A closer look at the breakdown of recoveries reveals the agency’s consistent efforts across the two years. In 2024 alone, LASRERA recovered N478.134 million and 18 properties. The following year, 2025, saw the recovery of N295.4718 million and 20 properties. These figures represent a multitude of resolved cases involving tenants, land buyers, and property developers who found themselves entangled in disputes with often unscrupulous estate agents and vendors. The agency’s mediation efforts serve as a crucial alternative dispute resolution mechanism, preventing many cases from escalating into protracted legal battles.
LASRERA’s mandate extends beyond financial and property recovery. The agency proactively intervenes in potentially fraudulent activities, as exemplified by its involvement in a purported N40 million land scam involving Revolution Plus Property Limited and a Nigerian diaspora investor. This intervention showcases the agency’s commitment to protecting investors from unscrupulous actors within the real estate sector. By stepping in and mediating such high-profile cases, LASRERA sends a clear message that fraudulent practices will not be tolerated and that the agency is dedicated to maintaining the integrity of the Lagos real estate market.
A key aspect of LASRERA’s function is the regulation of real estate practitioners within Lagos State. The agency maintains a registration portal, which currently lists 925 registered individuals and organizations. This figure represents a portion of the over 2,550 practitioners who have initiated the registration process. The registration requirement serves as a critical tool in ensuring professionalism and accountability within the sector. By mandating registration, LASRERA aims to weed out unregistered and potentially fraudulent operators, thereby providing a layer of protection for those engaging in real estate transactions.
LASRERA’s approach to dispute resolution emphasizes mediation as a primary tool. The agency actively encourages the use of Alternative Dispute Resolution (ADR) mechanisms to resolve real estate-related conflicts amicably before they escalate into formal legal proceedings. This proactive approach has yielded significant results, as evidenced by the agency’s track record. Out of a total of 1,899 cases received by LASRERA, 1,580 have undergone mediation, with an impressive 1,243 cases reaching successful resolutions. This highlights the effectiveness of mediation as a less adversarial and more efficient means of resolving disputes.
While the vast majority of cases are resolved through mediation, LASRERA recognizes the need for other avenues of redress. Of the total cases handled, 23 have been adjourned for further mediation, indicating ongoing efforts to reach mutually acceptable outcomes. A noteworthy number, 147 cases, were abandoned due to the non-participation of involved parties, underscoring the importance of cooperation in the mediation process. Furthermore, 172 cases were referred to other relevant agencies, demonstrating LASRERA’s commitment to ensuring that cases are handled by the appropriate authorities. Finally, a small number of cases, totaling eight, are currently being litigated in various courts, including two in the Federal High Court, three in the State High Court, and three in the Magistrate Court, representing the small percentage of cases requiring formal legal intervention. Through these diverse mechanisms, LASRERA addresses the spectrum of real estate disputes, ensuring that all avenues for resolution are explored. The agency’s commitment to public awareness is further evidenced by its ongoing campaigns urging residents to patronize only registered real estate professionals and to avoid becoming victims of fraudulent schemes. This proactive approach, coupled with robust enforcement of registration requirements, contributes significantly to a more secure and transparent real estate landscape in Lagos State.
