LASRERA, NBA TASKFORCE DEEPENS COLLABORATION TO SAFEGUARD RIGHTS OF PROPERTY OWNERS, TENANTS, OTHERS
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HOTJIST NEWS
The Lagos State Real Estate Regulatory Authority (LASRERA) has reaffirmed its commitment to sanitising the real estate sector through strict regulatory compliance and strategic partnerships.
The Permanent Secretary, Ministry of Housing, Engr. Gbolahan Toriola made this affirmation on Tuesday when he hosted the Task Force on the Illegal Practice of Law of the Nigerian Bar Association (NBA), Lagos Branch, on a courtesy visit to LASRERA’S Headquarters at Alausa, Ikeja.
Receiving the delegation on behalf of LASRERA, the Permanent Secretary described the visit as a timely and significant initiative that aligns with the State Government’s determination to entrench professionalism, transparency and accountability within the real estate sector.
He commended the NBA Task Force for championing compliance with laws regulating the preparation of legal instruments affecting interests in land, noting that collaboration among relevant professional bodies and regulatory agencies is essential to protecting the rights of property owners, tenants, buyers, investors and other stakeholders in the property market.
Engr. Toriola reaffirmed LASRERA’s commitment to sanitising the real estate sector through effective regulation, public enlightenment and strategic partnerships that will promote sustainable growth, strengthen consumer confidence and enhance compliance with extant laws governing real estate transactions in Lagos State.
Earlier, the Chairman of the Task Force on the Illegal Practice of Law, Nigerian Bar Association (NBA), Lagos Branch, Mr. Moshood Abiola said the visit was aimed at strengthening consumer protection and promoting lawful real estate transactions in the state.
He added that the visit also formed part of the Task Force’s ongoing stakeholder engagement aimed at fostering greater compliance with the Legal Practitioners Act and other relevant laws regulating the preparation of legal documents relating to land and property transactions.
According to him, only duly qualified legal practitioners are authorised by law to prepare instruments affecting interests in land, stressing that adherence to this legal requirement is critical to preserving the integrity of property transactions and safeguarding the interests of property owners, buyers, tenants, investors and the general public.
Mr. Abiola further emphasised the importance of sustained collaboration between the NBA Taskforce and LASRERA in addressing illegal practices within the real estate sector, adding that such partnerships will strengthen regulatory compliance, reduce incidences of fraudulent transactions and promote public confidence in the property market.
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