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From Okwe Obi, Abuja
Secretary to the Government of the Federation, George Akume, has assured realtors that President Bola Ahmed Tinubu would assent to the Real Estate (Regulations and Development) Bill in no distance time.
Akume stated this at the Annual General Meeting of the Real Estate Developers Association of Nigeria (REDAN), recently in Abuja.
The theme of the meeting was titled: ‘Improving Access to Affordable Housing for Wealth Creation and National Development.’
Represented by Professor Bernard Babatunde, the former Minister of Special Duties and intergovernmental Affairs, said: “Barely two weeks in office, the president has proven to deliver on his electoral promises.
“And in real Estate sectors, he is also ready to collaborate in providing affordable housing to Nigerians.
“I am particularly glad that REDAN Bill has been passed by the two Chambers, I will personally look for it, pass it to the SGF in ensuring the president Absent to it soon.”
Meanwhile, REDAN President and Chairman of Council, Aliyu Wamakko, said the organisation would continue to help the government bridge the gap of affordable housing deficit.
Wamakko said real estate sector is labour intensive with benefits in terms of employment and the multiplier effect to many sectors of the economy that can turn the economy around.
He said REDAN remained poised to improving access to affordable housing for wealth creation and national development.
“In doing so, we wish to place on record for all Members to know that REDAN’s leadership has zero-tolerance for shady deals and will continue to work with government on the path of sanity and national development.
“This AGM is called to give account of the stewardship of the 6th Council to our Members in accordance with the Constitution of the Association.
“While the AGM proper which comes up in the next session will expatiate on achievements to congress, this segment of the event is to provide us with the opportunity to inform the government, investors, and the general public of the importance of housing to socio-economic advancement of the nation,” he said.
He pointed out that the Real Estate (Regulations and Development) Bill’ is intended to santise the sector
“REDAN’s initiative to sanitize Nigeria’s Real Estate Sector, for which we proposed a Bill tagged ‘The Real Estate (Regulations and Development) Bill’ has been approved by both chambers of the 9th National Assembly (Senate and House of Representatives).
“The 9th National Assembly has now passed the Bill for an Act to Establish the Real Estate Regulatory Council of Nigeria (RECON). The Bill when assented to by the President of the Federal Republic of Nigeria shall incentivize investment into the sector.
“As a tonic to place Real Estate Development business on the path of global practice, we sustained our relationship with the Regulatory Institutions namely: Economic and Financial Crimes Commission (EFCC), the Special Control Unit Against Money Laundering (SCUML), the Nigerian Financial Intelligence Unit (NFIU) and Independent Corrupt Practices and Other Related Offenses Commission (ICPC).
“These agencies of the Federal Government will give credence and confidence to the International Community about our openness to do business in conformity with international best practices, and abhor sharp practices.
“We, therefore, call on our members to carry out their business with utmost diligence and in conformity to extant laws.
“There is no need for any of our Members to soil their businesses via unwholesome business relationships.
“I emphasize that Real Estate is our business and we must do all in our powers to protect and align it with best global practices.
“REDAN as a Self-Regulating Organization initiated the Estates and Product Endorsement Schemes to re-enforce and enhance standardization of Members’ products and Estates. This also led us to introduce and launch the ‘REDAN Seals’ as mark of credence,” he said.
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