Real Estate Transaction Bill Signed-Lagos State Govt.

Real Estate is one of the most Lucrative industry in the World. But unsuspecting people fall prey to fraudsters who have joined the industry.

Governor Babajide Sanwo-Olu of Lagos State on Monday signed three bills into law during the weekly State Executive Council meeting at Lagos House, Ikeja.

The News Agency of Nigeria (NAN) reports that the three bills included the law regulating real estate transactions and the law to provide for the registration of Cooperative Societies in Lagos State.

It also included the law to regulate ownership, licensing and sales of pets and to prohibit and restrict people from having in custody dangerous animals in public places.

Mr Sanwo-Olu said the new bills would strengthen government and citizens’ engagement and relationships.

According to him, the bills will also ensure that residents continue to live in an atmosphere where the rule of law is enshrined, and for residents to know what is expected of them.

The governor said the government would continue to ensure that residents were happy with the government and that trust was further deepened in the government.

He said that the law to regulate the real estate transactions in Lagos State would help to protect the citizens; the unsuspecting residents who fell prey to many real estate professionals.

Mr Sanwo-Olu said that the law would also help players in the real estate sector to know what was expected of them and for the government to be able to track happenings in the sector.

”It is really about ease of doing business and ensuring that we can continue to attract private sector investments into the real estate space.

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Source: Premium Times