The President of Real Estate Developers Association of Nigeria (REDAN), Alh. Aliyu Wamakko, has said the association’s collaborations with the Independent Corrupt Practices and Other Related Offences Commission (ICPC) would help rid the real estate sector of quacks and unscrupulous persons.
He, therefore, called on the Commission to engage the House of Representatives in passing the Real Estate (Regulations and Development) Bill, which has already been passed by the Senate.
Meanwhile, welcoming the visitors to the ICPC office the Chairman of ICPC, Professor Bolaji Owasanoye (SAN) charged them to provide low-cost housing to the poor to help close the 17 million housing deficit in the country.
The ICPC boss told REDAN that it had the financial and knowledge-driven capacity to help solve the housing challenges being faced by low-income earners in the country, adding that the association also had a platform for easy access to information and validation that were key to housing development.
He said, “Nigeria is said to have about 17 million housing deficit if not more than that. I see REDAN as an organised outfit able to play a critical role in closing that gap and in boosting the economy.
On the request for assistance in passing the Real Estate (Regulations and Development) Bill, the ICPC boss said that some investigations carried out so far by the Commission have been on members of REDAN and that it does not need a law to be a self-regulating institution as global practices revealed. The ICPC boss, however, expressed concern over conflict in some of those kinds of laws being passed.
Advising REDAN, he said, “Let me share my experience with how other international self-regulating organisations operate. I can guarantee you; that you do not need a law. Already, I am looking at the constitution and the legislative lists in my mind and I know for sure that a lot of what falls within your jurisdiction are for states, but that does not stop you from being a self-regulating institution, you have a code of conduct and you must be bold. That’s where the challenge is.”
Finally, the ICPC Chairman assured REDAN of its support after being informed that moves were currently ongoing by the Association to provide housing at low cost to Nigerians through partnerships with both local and international organisations.