Lagos tenancy bill to peg agency fee at 5%, punish defaulters
[NigerianEye - Nigeria] - 14/08/2025
Mudashiru Obasa, speaker of the Lagos House of Assembly, says the proposed bill to regulate the relationship between landlords and tenants will reduce the agency fee or commission on annual rent from 10 to five percent if passed into law. Obasa spoke on Wednesday during a one-day public hearing on the bill. Represented by Stephen Ogundipe, a lawmaker, Obasa said section 3(4) of the proposed tenancy law will make it an offence for any agent collecting more than five percent of annual rent. The speaker said such an agent commits an offence punishable by refund, two years’ imprisonment, or a (…)
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