Lagos Governor Signs Bill Regulating Real Estate Transactions

Lagos governor has signed a bill regulating real estate transactions.

Glamtush reports that Lagos State Governor, Babajide Sanwo-Olu, has signed a bill regulating real estate transactions in the state.

This online newspaper understands that the governor signed the bill at the Executive Chamber at the Lagos House in the Ikeja area on Monday.

Present at the signing were the Commissioner for Housing, Moruf Akinderu-Fatai; the Attorney General and Commissioner for Justice, Moyosore Onigbanjo; the governor’s Special Adviser on Housing, Toke Awoyinka-Benson; amongst others.

Sanwo-Olu said the law to regulate the real estate transactions in Lagos State will help to protect the citizens; the unsuspecting Lagosians who fall prey to many real estate professionals, adding that the law will also help players in the real estate sector to know what is expected of them and for government to be able to track who is doing what in the sector.

“It is really around ease of doing business and ensuring that we can continue to attract private sector investments into the real estate space. We believe this law will be the very first in the country that has taken a deep dive into what is happening in that space and it further strengthens our intervention in housing through the Ministry of Housing,” Sanwo-Olu said.

The governor also signed two other bills into law to provide for the registration of Cooperative Societies in Lagos State; and law to regulate ownership, licensing and sales of pets and to prohibit and restrict people from having in custody dangerous animals in public places.

Sanwo-Olu said the new bills he assented to would strengthen government and citizens’ engagement and relationships and for residents of the State to continue to live in an atmosphere where the rule of law is enshrined for people and to know what is expected of them.

The governor commended the Speaker of the Lagos State House of Assembly, Mudashiru Obasa, and the state lawmakers for seeing the need to pass the bills into laws.

He said the law to provide for the registration of cooperative societies in Lagos State would make it easy to regulate the operations of thousands of cooperative societies in the State for harmonious cooperation.

The governor also noted that the law regulating the ownership, licensing and sales of pets, prohibiting and restricting people from having in custody dangerous animals in public places, would further strengthen all the deliverables in the Ministry of Agriculture, especially issues that have to do with pets and animals.