It's a term to question if something is real.
Or more commonly used to question if someone's statement is true or if it's been overly exaggerated.
Brenda: omg did u see that hot senior over there? Yea i dated him for a week then i figured that he ain't got the money or dick size to satisfy me
Me: sangiye? Really Benda? Really? As if a guy that hot would actually look at your whore-ish face, let alone date your fat-ass.
Brenda: okay, who am i kidding, i lied. Sorry gurl.