The General Manager of the Lagos State Consumer Protection Agency (LASCOPA), Afolabi Solebo Esq, has warned residents of the state to be wary of fraudulent real estate parading juicy offers during the end-of-year period.
He issued the warning during his participation as a panelist at the recently concluded Lagos Real Estate Marketplace Conference and Exhibitions organized by the Lagos State Real Estate Regulatory Authority (LASRERA), Solebo spoke at the two-day event held at Eko Hotel and Suites, Victoria Island, Lagos.
He advised individuals who had fallen victim to scams perpetrated by fraudulent real estate companies in the past to report such incidents to the agency rather than enduring the ordeal in silence.
Solebo assured that the agency is prepared to assist those who have been defrauded in various ways, whether by real estate organizations or any other establishments. He pledged that LASCOPA would ensure that justice prevails in such cases.
Notably, he highlighted that the agency had successfully recovered over N400 million for residents who had been defrauded across various sectors in the state.
Need to have building permits and approvals
During the conclusion of the two-day event, additional panellists who addressed participants from the Real Estate and Building industry emphasized the importance of complying with Building Approvals, Permits, and Land Use Planning.
They also underscored the significance of safeguarding the rights of consumers and victims under the law.
In the panel discussion, stakeholders in the real estate industry were advised to engage with their legislators actively, advocating for the sponsorship of bills aimed at tackling the evolving challenges faced by the sector.
Backstory
The Lagos state government through the Ministry of Environment had recently engaged in the destruction of buildings with illegal permits and some without permits at all.
The move is geared towards combating persistent flooding and ensuring water channels are cleared.
Very good advice ! I was scammed by a real estate company 6 years ago and up till date I’m yet to see the 8 plots of land I purchased from them. It’s has caused me a lot of frustration and pain . They took my hard earned money knowing that they had no lands to sell. They are still advertising and selling lands uptill this very moment! Can you just imagine that?
Hmmm! I am so sorry to hear that. Sometimes, this things don’t start out as a scam, they wanted to be genuine but situation like failure to get title for the land due to bureaucracy in the system or some other type of problems that were unseen at the beginning make land transactions look like scam. Also most real estate companies don’t communicate well, if they cant allocate the exact place you bought, tht should take you somewhere else or outrightly refund you. Keep disturbing them. I am so sorry for your pain and frustration.
@Ebube, you shouldn’t sell what you don’t have legal title to. That’s basic Law 101!
You keep keeping the fraudulent Real Estate company in business when you refuse to mention their name. I dislike it when people like you come on social media space to lay complains without mentioning names of the companies. By mentioning their names, you willl not only be saving others from falling victims but you may also be at the verge of reclaiming your scammed funds.