The Oyo State House of Assembly has called on the executive arm of government to strengthen regulations guiding real estate practices in the state, as part of efforts to curb fraud, exploitation, and illegal property dealings.
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โThe resolution of the house followed the report presented by the House Committee on Lands, Housing and Survey, where investigation revealed a growing number of unregistered and unapproved estate developers operating across Oyo State, many of whom are not traceable.
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โAccording to the house, this trend has led to increased cases of fraudulent property transactions, with unsuspecting residents falling victim through misleading advertisements.
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โTo address these issues, the lawmakers recommended the creation of a comprehensive database for all real estate developers, stricter enforcement of existing laws, and closer collaboration between government and private developers.
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โThe house also called on the state government to intensify action against unregistered agents, establish a technical working group to review existing laws, and strengthen efforts by the stateโs task force to combat land grabbing.
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โIn conclusion, the Assembly emphasized that decisive and sustained action is essential to restore public confidence in the real estate sector by tightening regulatory frameworks, enhancing transparency, and holding fraudulent operators accountable.
Oyo Assembly Moves to Curb Real Estate Fraud, Land Grabbing
