The Economic and Financial Crimes Commission and the Lagos State Real Estate Regulatory Authority have agreed to deepen their partnership to address the growing cases of property fraud in Lagos.The agreement was reached on Wednesday, July 29, 2026, during a visit by LASRERA’s delegation led by Permanent Secretary, Engr. Gbolahan Toriola, to the EFCC’s Lagos Zonal Directorate 2.
Toriola said the collaboration is aimed at cleaning up the sector, safeguarding investors, and rebuilding public trust in property deals across the state. He noted that LASRERA was set up to oversee real estate transactions and shield residents from sharp practices. According to him, a common problem involves developers selling or leasing the same housing units to multiple buyers, which has led to hundreds of disputes.
This year alone, the Authority said it has received over 505 petitions and resolved more than 300, often through mediation before considering legal action.Officials from LASRERA explained that state law now requires all developers to register with the Authority before operating. Assistant Director, Legal, Jumoke Omosanya, added that the agency has the power to suspend erring developers and that unregistered agents are operating illegally.
She also said the Lagos Government is working on amendments to the 2015 Tenancy Law to tighten oversight. LASRERA first sought EFCC’s support in 2023, citing complaints of delayed projects and landlords renting one property to several tenants.The EFCC, represented by Acting Zonal Director ACE I Bawa Usman Kaltungo, described the visit as timely. He said real estate fraud now accounts for most of the petitions received by the Commission. Kaltungo expressed concern that both local investors and Nigerians abroad are losing confidence after losing millions to fraudulent developers.
He assured LASRERA of full support and said the EFCC has scrapped monetary thresholds for petitions because “every victim deserves justice.” He also advised LASRERA to pursue legislation to blacklist convicted developers as a deterrent.EFCC legal officers outlined next steps, including a planned sensitization seminar for developers on compliance and consumer rights.
Head of Legal and Prosecution, DCE Deborah Ademu-Eteh, cited cases where developers demand extra payments after project completion, and warned against retaliatory lawsuits against victims and the Commission. ACE II Henry Anasoh urged LASRERA to work with the Lagos Attorney-General to amend land laws so that real estate fraud is explicitly criminalized and the Authority can directly refer economic crime cases to the EFCC for prosecution and investigation.
