Property development: Compromised officials risk dismissal, prosecution – Sanwo-Olu warns

Lagos State governor, Babajide Sanwo-Olu, on Tuesday issued a warning to government officials colluding with property developers to sidestep the state’s building regulations, saying they risk dismissal from service and criminal prosecution going forward.

“I am using this opportunity to express my disappointment about some government officials that want to sabotage our effort. I will not be only ruthless, I will look for you and ensure you have no place in my government. This is an agency that must work for everyone. It is a project whose time has come.’’

Sanwo-Olu issued the warning while speaking at the second Lagos Real Estate Market Place conference and exhibition with the theme “Lagos 21st-century real estate investment hub organised by the Lagos State Real Estate Regulatory Authority (LASRERA) at the Eko Hotels & Suites, Victoria Island.

‘’The lesson we are learning is not lost on us. But I dare say that a month before the Ikoyi building collapse incident, we launched a certificate of completion and certificate of fit of habitation of buildings in the state. We had done that with Lagos State Building Control Agency (LASBCA), meaning that anybody that had done proper development to a certain level, needs to get a certificate of completion and a certificate of fit of habitation.

Real Also: Expectations as The Address Homes partners Lagos on real estate confab

‘’So these are some of the things that from a regulatory point of view that indeed all the boxes had been ticked. We know for the size of this city there will be people that will like to cut corners, there will be officers that will also bring us down and have reduced our name, we know. We are not going to stand here and say everybody that works for us is holy but we are dealing with them. These are major issues that all of us need to work together and deal with.

In her address, the special adviser to the governor on housing, Toke Benson –Awoyinka said real estate remains a very strong and powerful investment all over the world, adding that apart from the role it plays in employment generation and creation of sustainable jobs, it has the highest potential of growing the economy of any state and nation.

‘’As viable as this sector is economically, having the right information and understanding the operational environment by investors or investees is very key and this can be achieved through coaching and professional conferences like this.

‘’There is a need for us all to know the government’s policies put in place and how the knowledge of all these policies can assist us in making informed decisions in respect of our investments.

‘’As a government, we have realized this fact and as such, have been making business-friendly policies that can assist would-be investors, investees operate in a conducive business environment.

We all know the havoc and the damages caused by the outbreak of the coronavirus pandemic which brought drastic changes to the financial sector of the world, despite this, the real estate sector remained the preferred investment globally in spite of this threat.’’