The Lagos State Real Estate Regulatory Authority (LASRERA) has successfully mediated in over 1,200 real estate disputes and recovered nearly N300 million in funds on behalf of Lagos residents.
LASRERA also recovered 20 property on behalf of the residents.
The Special Adviser to Gov. Babajide Sanwo-Olu on Housing, Mrs Barakat Odunuga-Bakare, made this known on Tuesday, during the Lagos State 2025 Ministerial Press Briefing at Alausa, Ikeja.
According to her, LASRERA has handled 1,899 complaints related to real estate transactions since inception.
“Out of this, 1,580 cases were mediated, with 1,243 successfully resolved, ensuring that many Lagosians got justice without lengthy court processes.
“Alternative Dispute Resolution (ADR) remains a core part of our work. We try to resolve issues before they escalate.
“Of the remaining cases, 23 are still undergoing mediation, 147 were abandoned due to non-cooperation from parties involved, while 172 were referred to other government agencies.
” Eight cases are currently in court — two at the Federal High Court, three at Lagos State High Court, and three at the magistrates court,” she said.
In terms of financial restitution, she said that the agency helped to recover N295.5 million for aggrieved parties.
She emphasised that 20 property were also recovered through the agency’s mediation process.
According to her, the disputes mostly involved tenants, land buyers, estate agents, land vendors, and developers.
She added that the agency, in collaboration with ministries, departments and other agencies, embarked on campaigns to educate the public and gather feedback on real estate concerns.
Odunuga-Bakare said that the agency’s goal was not only to regulate but also to protect residents from fraud, ensure standards and create a market environment based on trust, transparency, and professionalism.
“We are committed to cleaning up the sector.
“Residents must play their part by demanding accountability and working with registered professionals,” she added. (NAN)
