Category: Property

  • Ogun pledges full automation of land services

     Okwy Iroegbu-Chikezie

     

     

    OGUN State Government is reviewing its procedures on land acquisition to facilitate full automated land process for individuals and corporate bodies this year and beyond.

    The Governor, Prince Dapo Abiodun while presenting Appropriation Bill tagged, Budget to Build Our Future Together”, to the state House of Assembly in Oke-Mosan, Abeokuta, described  the Bureau of Land and Survey as a critical component in his administration’s quest for improved service delivery.

    He said the Geographical Information System (GIS)  and other areas were being reviewed towards the  realisation of the budget, saying this would accelerate the plan for construction of affordable housing units across the State.

    Read Also: Ogun, stakeholders agree on Agric programme

    “The automated processes formed part of the N449.972 billion proposed expenditure for 2020. We  are currently  reviewing our programmes on land acquisition for individuals and corporate bodies, particularly GIS and other areas, to facilitate the automation of our land administration processes,” he said.

    Also, the Consultant to the Governor on Budget and Planning, Mr Olaolu Olabimtan, charged the Bureau workers to acquire skills in modern techniques for digitisation of land management and be more aggressive in its operational strategies.

    Olabimtan said land services  is a gainful  venture, if efficiently managed, noting that, it is more cost efficient for industries and other beneficiaries to pay the cost of running land processes.

  • ‘Enhancing local artisans’skills, productivity’

    The real estate sector is fast changing with sophistication in designing skills, choice of materials and workmanship. To achieve the needed finishing and competitiveness, there is need for trained and competent artisans to bring to bear their skills and knowledge in the over N900 billion nation’s artisan market. Operators in the sector complain that Nigeria is fast losing out to foreign artisans as a result of tardiness, trust, poor workmanship, incompetence and poor sectoral control. OKWY IROEGBU-CHIKEZIE reports that if nothing was done, the nation’s artisans fortunes may dim in the coming years.

     

    IMPROVEMENT in building designs and  in the construction industry have left Nigerian untrained and unskilled artisans in the lurch, thereby ceding the over N900 billion trade yearly in the industry in the hands of foreigners.

    Construction needs timeliness and precision, but local artisans do not seem to have these values, thereby putting the contractors or owners of such buildings or sites in dilemma.

    Nigeria Institute of Building (NIOB) President, Kunle Awobodu said foreign artisans are superior in craftsmanship and technicality compared to some of our local artisans, especially in finishings.

    According to him, their charges  are reasonable because they have a lot of apprentices from their  home towns who take little as income.

    He said: “Our youths are not interested in site work but fast and easy money unlike them and their pricing is not competitive. They prefer Okada riding and other unorthodox means. They don’t want hard labour. Most of our artisans are aging and there is no visible and sustainable replacement. When you give them jobs, they don’t have apprentice to handle, but their colleagues who will charge them the same rate they charged their clients.”

    Awobodu also stated that these artisans from the West African sub-region, are more skilfull because their countries adopted the National Vocational Qualification (NVQ), which is a work-based qualification, which recognises the skills and knowledge of a person.

    On the way forward, he canvassed  proper monitoring. He commended the government for coming up with the National Board of Technical Education (NBTE).

    An estate surveyor and valuer,  Niyi Olagoke, said local artisans do not do their jobs thoroughly unlike the ones from Cotonou, Togo, Ghana and other West African countries.

    He stressed trust and timeliness, noting that the foreign artisans do not take too many jobs at the same time that may lead to poor performance.

    He said: “The associations they belong to need to do a lot more in terms of discipline and control of their members. The idea of taking up multiple jobs, collecting and abandoning them mid-way should be discouraged and sanctioned by their associations, such as the tilers, bricklayers, aluminum fitters, plumbers, and painters.This ugly trend is so rampant to an embarrassing level. They are always in a hurry and lack patience as against the foreign ones who know it’s a contract and are mindful of the smallest details.”

    Olagoke does not have any hard feelings as to them losing patronage except they change their orientation, which he insists is not good for the sector.

    Managing Director, Afolabi Adedeji & Associates (AA&A), a civil engineer, Mr Afolabi Adedeji, said it is not only a perception that artisans from Cotonou, Ghana and Togo are more professional in the way they handle jobs, but a reality because of their knack for details.

    He said the construction sector is highly in need of competent masons and bricklayers, carpenters, joiners with many sub-specialties, such as formwork, roofing and furniture. Others are steel fixers, iron benders, welders, painters,  mechanics, machine operators, scaffolders, crane driver, tilers, and terrazzo floor finishers.Their success require skill and level headedness.

    He explained that a good mason should be able to lay between 40 and 70 sandcrete blocks measuring 6″X9″X18″ in an eighth-hour working day while some could lay as many as 120 blocks per day. He maintained that they take their work seriously and have good work ethics, especially punctuality and honesty, in addition to keeping to bargains and contractual agreements, whether written or verbal.

    He further stated that another thing the artisans from Ghana, Togo and Benin Republic is that they have multi-skilling and multi-tasking abilities, noting that  many of them combine their skills as bricklayers, carpenters and painters in one package.

    On how to change the tide, he said: “‘Easy money from other sectors has literally depleted the number of skilled hands in trades, which take a lot of time and effort to produce. The young people do not want to learn any trade but it is left for the government to promote technical education and look for other ways to improve the knowledge base of artisans.”

    A former president of Council for the Regulation of Engineering in Nigeria (COREN), Kashim Ali, an engineer, reportedly said the skill gap in the country developed over the years due to retirement of old artisans without the young generation being groomed to take over from them.

    He regretted that 80 per cent of masons, carpenters, steel fabricators, plumbers, electricians, painters, and tillers found on construction sites across the country are foreigners from neighbouring countries of Cameroon, Niger, Togo and Ghana.

    According to him, ”COREN is very concerned about the paucity of indigenous technicians and craftsmen in the country. The council carried out a technical audit of over 300 technical colleges, 98 per cent of the technical colleges visited.’’

    He said the dearth of indigenous artisans and technicians in the engineering sector was a major economic setback. As the skill gap continues to widen, there has been huge capital flights as expatriates come in to fill the lacuna at the detriment of our country.

    The National Union of Civil Engineering, Construction, Furniture and Wood Workers (NUCECFWW) also spoke against the massive loss of jobs by their members to expatriates.

    The association lamented that Asians  had taken over the jobs of technicians and artisans that can be done by Nigerians.

    They wondered what is special about carpentry, technical and iron bending, among other jobs done by expatriates.

    The Association of Building Consultants and Artisans of Nigeria (ABCAN) also lamented that  over 20,000 of its members across the country are without job.

    It frowned on home builders and the government, accusing them of preferring foreign artisans to indigenous ones.

    In Lagos State, as part of the government’s determination to reduce unemployment and skill deficiency among artisans, it has  stepped up efforts at providing the enabling environment for young entrepreneurs, artisans and tradesmen to do business, deliver innovation, and boost the growth of the state’s economy.

    The Lagos State Ministry of Wealth Creation and Employment (MWC&E) does this in collaboration with Lagos State Technical and Vocational Education Board (LASTVEB). It has intensified the campaign to train tradesmen and artisans in the state to enhance their productivity and upgrade their skills.

     

  •  Stakeholders make case for proper waste disposal

    Adekunle Jimoh, Ilorin

    Stakeholders in the environment sector have harped on collective responsibility in changing mindset against indiscriminate waste disposal in Kwara State. They also advocated the reorientation and attitudinal change among Nigerians to have a sustainable cleaner and safer environment.

    Participants at the second anniversary of a Non-Governmental Organisation, #PickThatTrash, stated this in Ilorin, the Kwara State capital.

    A retired Permanent Secretary, Kwara State Ministry of Environment and Forestry, Alhaji Isiaka Al-Amin, said this administration is spending huge amount of money to evacuate refuse in the state.

    Al-Amin appealed to Kwarans not to leave the responsibility of evacuating refuse and cleaning of the environment to government alone, saying that keeping the environment clean is the responsibility of all.

    “No amount of task force can remedy the situation except we focus on reorientation of our people. They need to change their mindset towards the environment. Therefore, I commend members of the #PickThatTrash for your partnership and support while I was in the service,” Al-Amin said.

    The General Manager of the Kwara State Broadcasting Corporation (Radio Kwara), Alhaji Abdullateef Adedeji, advised Kwarans to imbibe positive attitude towards the environment to avert diseases.

    “I am happy that most of you in #PickThatTrash are youths and because you are youths you are still amenable. So, since you are amenable, the future is granted. What you need is our support. That is why right from day one we open our doors at Radio Kwara for #PickThatTrash to sensitise the public on environmental issues.

    “It is important we change our attitude to environment. If we change our attitude, it will save us from many things. Our environment will be safe, the climate will be safe and we will be protected from diseases,” Adedeji disclosed.

    Alhaji Adedeji urged members of #PickThatTrash to remain focused and tenacious in carrying out clean ups across the state and sensitise the public against indiscriminate dumping of refuse.

    On her part, the Team Lead of #PickThatTrash in Kwara State, Miss BaliqeesSalaudeen, recalled that the NGO had carried out clean up of many markets in Ilorin. “It is on record that we have carried out clean up exercises of Yoruba Road Market, Oja-Tuntun, Oja-Oba and Ipata Market, among others,” Salaudeen disclosed.

    An environmental journalist and member of the #PickThatTrash, Abdulrosheed Okiki, called for more collaboration among various organisations to support the government in putting sanitation and environmental issues at the front burner of every discussion with a view to averting outbreak of diseases.

     

     

     

  • FIABCI seeks improved trade liberalisation, others

    By Okwy Iroegbu-Chikezie

    The International Real Estate Federation (FIABCI), Nigeria chapter has called for improved trade liberalisation and the ease of doing business.

    Its President, Mr. Adeniji Adele,  listed policy inconsistencies, legal process delay, non-affordability and cumbersome title registration as the challenges faced by practitioners.

    Adele, who spoke on the sidelines of the announcement of FIABCI-Nigeria Business Forum 2020 on ease of doing business, said the poor state of infrastructure, social amenities and inadequate access to finance, contribute to the slow progress in the sector.

    Commending the government for introducing reforms through the Presidential Enabling Business Environment Council (PEBEC) as evidenced by World Bank’s last year’s Ease of Doing Business Index where Nigeria ranked 145th out of 190 countries, he said the association would improve the nation’s poor image.

    The FIABCI boss also commended the government for some of the reforms in the sector. But he urged to  stop multiple taxation by its agencies.

    FIABCI, he said, is a business network of real estate professionals worldwide, which provides access and opportunities for members who need knowledge, sharing information and conducting international business with one another.

    Read ALSO: Smoking out slush funds from real estate

    He said: “The association has members in 65 countries, including 100 professional associations, 65 academic institutions and 3000 individual members from all professions of the real estate sector. FIABCI is the most representative organisation of the real estate industry in the world and holds special consultative status with the economic and social council of the United Nations.”

    He said FIABCI has realised that  collaborations among players in the private and public sectors can create the enabling environment for growth and development.

    He said this would enhance the ease of doing more business  among industry professionals.

    He urged his colleagues to note the core elements of property business, such as property rights, access to credit, effective governance, rational dispute, financial transparency and appropriate regulation with integrity in their dealings.

  • Push for Lagos smart city gathers momentum

    Smart cities are technology enabled and digitally enhanced. Most developed cities are regarded as smart as a result of their digitalisation. The Nigeria Institution of Surveyors (NIS) says cities should be smart to boost development, OKWY IROEGBU-CHIKEZIE writes.

     

    FOR Chairman Nigeria Institution of Surveyors (NIS), Lagos Chapter, Mr.  Adesina Adeleke, the Lagos State government must seek innovative ways to run the state with an estimated 25 million population.

    He spoke at the 34th Annual General Meeting of NIS titled: “Surveying and mapping: The tool for smart city-Lagos.’’

    He said though Lagos has taken the lead, it still has a lot to achieve to create a livable city.  He advised that the state must translate from being a mega city to a smart city powered by technology and digital information.

    He commended the state for taking the lead in innovation and technology with a population estimate of between 18million and 25 million.

    Adeshina said Lagos is not easy to manage, saying the pressure on social amenities means the government must work harder.

    Presenting a paper, the Rector, Federal School of Surveying, Oyo, Oyo State, Mr. Nihinlola  Olayinka,  said a smart city is an integration of a digital city with internet. He argued that only a forward-looking leadership thinks of a smart city as it involves huge funding.

    He said a growing city would make use of information and communication technology to increase  efficiency, share information with the public and improve both the quality of the government and citizens’ welfare.

    According to him, the function of a smart city lies in the computing infrastructure and collection and manipulation of large quantities of data to create an environment of efficiency and conservation.

    He said surveyors are experts on property and boundary rights.

    He lamented that one of the challenges of municipalities is aging infrastructure utility systems, including water supplies and storm –water drainage installed several years ago.

    He said municipalities were being forced to spend more money on repairing and modernising the existing infrastructure before upgrading new installations to ‘smart city’ specifications.

    He said there was the need for surveyors to step up their game through continuous professional development, maintain a good relationship with  the state government and collaborate with other allied professionals as the boundary of professions had collapsed.

    Nigeria Institution of Surveyors President, Alabo Charles, said society must grow in sync with technological development, take advantage of them and make life more meaningful and productive.

    Read Also: Estate surveyor gets global designation  

    He advised that surveyors should  be of social, political and economic relevance.

    He said: “Today, our society, cities and enterprises are geared towards attaining better economies, efficiency, effectiveness and eco friendliness.

    ‘’Lagos is in the forefront of this challenge of a mega city working towards attaining smart cities’status. Achieving these objectives must call to play the interface of skills in all professional fields, but fundamentally, surveying and geoinformatics take a primary place of importance not only at the conception of policies but also continually after the actualisation of project dreams, to monitoring of structures and facilities to ensure resilience and sustainability.”

    Governor Babajide Sanwo-Olu,  represented by the  state Surveyor-General, Olutomi Sangowawa, stated that though Lagos is a small city, it is the most economically viable, adding that it was going digital to achieve its aim of making Lagos a smart city.

    The governor said the geographic information system (GIS) is an important technology that would enhance survey practice in state as it is designed to capture, store, manage as well as analyse data that would become operational  next March.

    The governor said it was putting data infrastructure in place to make the GIS operational.

  • Ijora Badia evictees seek intervention

    By Musa Odoshimokhe

    The Co-founder, Rethinking Cities, Mr. Deji Akinpelu, has called on the Lagos State government to address accommodation problem facing victims of forced eviction.

    Speaking to reporters on the plight of the Ijora Badia evictees, he said those forced out of their accommodation in 2017 were traumatised by the incidence.

    He said the impact of force eviction was creating additional problems they tried to solve.

    “What we are looking at is the effect, there is the assumption that when you evict these people, they go, but we are only creating more shanties.

    “People are having health hazard here, so this approach of demolition and resettlement for water front communities is not giving results. This attitude of forcefully evicting people is not the best approach.

    Read Also: Agencies to keep watch on Outer Marina, Onikan

    “For every force eviction that happens, you should compensate the people adequately to ease their suffering.

    Akinpelu said the Ijora Badia eviction reinforced the need to accommodate victims instead of leaving them to their fate.

    According to him, there was need to give title to those who aspire to develop their houses.

    “We need to ask government again about their plans and force eviction issues. How they want to deal with the issues that arise from there.

    “Poor communities across the state are at the mercy of overzealous government agents assigned to evict people from there houses.

    One of the evictees, Mrs Bimbo Osobe, said the Ijora Badia victims have been stripped of their beings and livelihood.

    She added that their children were forced out of schools, noting that the private schools their wards attended were burnt down during the demolition.

    “Some victims have gone mentally deranged because of lack of accommodate, these place that we arrange makeshift houses expose our women to abuse and other health hazards.”

  • Estate surveyor gets global designation  

    By Okwy Iroegbu-Chikezie

    A Nigerian and Lead consultant/Head of practice, Nuel Mark and Partners, Emmanuel Mark has been designated as Senior Right of Way Professional (SR/WA) of the International Right of Way Association (IRWA).

    Mark, who was the immediate past president IRWA Nigeria Chapter 84, is the first and only professional to have been so designated SR/WA in Africa by IRWA. The SR/WA designation is the only designation reflecting evidence of professional accomplishment in the right of way profession.

    The Interim Chief Executive Officer, International Right of Way Association, Daniel M Stekol in a letter to the former National Publicity Secretary, Nigerian Institution of Estate Surveyors and Valuers (NIESV), said “SR/WA) is the most prestigious professional designation granted to those right of way professionals who have achieved professional status through experience, education, and examination.”

    Read Also: Nigeria’s UN chief Amina Mohammed, Sting, others for Global Citizens prize

    While congratulating him for the feat, Stekol stated that Mark will be “walking the stage in Minneapolis at the awards and recognition Luncheon to celebrate this accomplishment”

    On the award, Mark said: “I am excited to be the first member of Chapter 84 to obtain the SR/WA designation in Nigeria and Africa—a certification which stands for the highest standard of excellence in the right of way profession.

    “It means a world of impeccable disposition for me. To be the first to be designated SR/WA in my Chapter, in Nigeria and indeed the African continent as a whole is phenomenal and a defining moment for me.”

    Speaking on the future of the right of way chapter in Nigeria, the immediate past president, said, “We have to redefine what the right of way profession means to us. We must work towards enlightening professionals all over Africa about the IRWA and the significance of the profession in the development of infrastructure real estate in Africa.

    “It is no longer just about creating right of way for highways and utilities; the profession has become more complex. We have become more flexible and adaptable with the changes in our practice. I envision a chapter that will be more proactive in all aspects of our profession as laws and regulations require us to be certified to practice in Nigeria.”

  • Upholding the environment at yuletide

    Christmas is the season people stock their homes with foods and drinks, with a lot of merry making and partying. No doubt it is also one of the reasons why the environment is always filled with filth endangering public health. The Lagos State Government has through the State Waste Management Authority (LAWMA) appealed to Lagosians to responsibly deal with their wastes this yuletide to preserve the character of the state, OKWY IROEGBU-CHIKEZIE writes

    Heaps of refuse are gradually creeping around the markets, public places, parks as a result of the yuletide season. This is not a surprise at periods like this as festive seasons come with their attendant problems of waste generation and increase in unattended waste. This scenario will be a thing of the past if the plans of the state waste management authority and other agencies of government are anything to go by.

    The state said it discovered that those living in un- approved locations, squatter settlements, street traders and others are the worse culprits.

    In the light of that and in order to sustain the dislodgement of  squatters and illegal structures on Outer Marina and Onikan and other such places, the government  has deployed not less than 60 operatives of the three enforcement agencies of the state  to the various points of Onikan and Outer Marina for sustenance.

    The latest move has been made possible through the creation of a synergy between the operatives of Lagos State Environmental Sanitation Corps (KAI), Lagos Neighbourhood Watch and Lagos State Parks and Gardens to sustain all the cleared areas.

    The Commissioner for the Environment and Water Resources, Mr Tunji Bello, said they have also obtained the buy- in of the Office of the Assistant Inspector General of Police, Zone 2 at Onikan to ensure the success of the sustenance operation. Bello said on a daily basis, a large detachment of the operatives of KAI, Neighbourhood Watch and LASPARK will be deployed to man and patrol the listed areas and prevent the return of the environmental nuisance.He explained that in instances where the deployed teams have issues that bother on their safety or operations, they should call for reinforcement from their superiors.

    He reiterated the commitment of the administration to ensure that there would be no going back to the old, dirty, unkempt environment days of Outer Marina and Onikan.The areas already cleared and to be sustained following the directives of Mr Governor are the Onikan corridors which include Police Zone 2 office/ the Island Club and Race Course/Lawn Tennis corridor and the Outer Marina. Bello further declared a zero tolerance for street traders, operators of food courts on the roadsides, vehicles that are indiscriminately parked who line up the stretch of all the listed roads, under the bridges and areas thereby inhibiting the free flow of traffic.

    He also gave marching orders that operatives of the Kick Against Indiscipline (KAI) must continually ensure that no street trader is found in any of the areas henceforth and they should also maintain motorised patrols to clear any spill over of traders and goods.

    The Commissioner added that the same applies to owners of all vehicles abandoned or parked indiscriminately on the roadsides including the Onikan alignment, who must remove such vehicles immediately or risk being towed away.

    He directed LAWMA to deploy more street sweeping gangs to all the listed areas to ensure continuous sweeping of both dirt and sand and provision of special groups to monitor the effectiveness of the sweeping gangs.

    He added that Lagos State Parks and Garden Agency LASPARK, on it’s part on a daily  basis clear all vegetal nuisance noticed in the listed areas and roads and also ensure that some of the areas that have lawns converted into clothes hanging lines are cleaned up immediately.

    Tunji Bello said the task of cleaning up Lagos and restoring the greenery has begun and that there would be no looking back, reiterating that after the completion of the Clean-Up of Marina and it’s surrounding areas, the next port of call would be Ikoyi and Victoria Island.

    The  LAWMA also revealed that plans have been concluded to decommission its landfill sites at Olusosun and Solous, due to urban encroachment and increased human activities around the areas.

    The agency said further that: ‘’The government is opening a new chapter in modern waste management for the state, through a number of comprehensive short and long-term strategies that could include, reactivation of Kesse Landfill project at Badagry; construction of additional material recovery facilities and transfer loading stations around the metropolis, as well as building community recycling centres in all the local councils and development areas of the state’’.

    The LAWMA boss maintained that immediate measures would be taken to mitigate the impact of the closure, but the long-term objective of government was ‘a Lagos State where no landfill sites are required but only waste management facilities, waste to energy and incineration plants’’.

    He further revealed that plans were on to establish 5 Mega Watts waste to energy plants at Solous 3, Olusosun and Epe landfills, to tap the energy potentials available there, while Olusosun would eventually be transformed into a waste treatment centre.

    The LAWMA boss reiterated the agency’s commitment to promoting waste recycling and best practice in waste management, urging residents to embrace LAWMA’s Blue Box programme and the concept of  waste sorting at source.

    He advised members of the public on proper disposal of refuse, reminding them of sanctions for violation while launching  the LAWMA  blue box programme, a single stream recyclable collection programme. The programme is to encourage the separation of recyclable materials from the general waste at the point of generation.

    He encouraged Lagosians to endeavour to have two containers – a black container for waste and a blue container for recyclables.

    Gbadegesin said: “To kick-off the blue box programme, we are distributing these colour-coded recycling bags to each household through franchised recyclers for separation of recyclables. The bags will be collected on designated dates by the assigned recycler and transported to the sorting hubs within the area at designated days of the week. Recycling companies, who are franchise holders, will come to pick up the boxes.”

    He said the colour-coded bags would be distributed by recyclers and environmental volunteer corps, who would educate and encourage participation, as well as collate data on the field.

    The managing director said the collected recyclables would then be transported to the community recycling centre in the area for further sorting and sale to off-takers.

    He added that as a way of encouraging compliance, LAWMA would promote the sorting culture with a reward system.Participatory households would accumulate coupons distributed by the franchisee, which would be exchanged with several redeemable options that included, but not limited to reduction in the amount paid for waste bills.

    Gbadegesin said the state is moving towards a green economy where citizens will be empowered, children used as change agents and cart pushers shown how best to make a living.

    Commissioner for the Environment & Water Resources Mr. Tunji Bello said the launch was a good beginning to reduce waste, encourage recycling, create jobs and have a healthier environment.

    He observed the challenge of the state as that of having a small land space compared to the millions who migrate to Lagos on a daily basis in search of greener pasture.

    The commissioner encouraged residents to key into the modern way of waste management to create wealth.

  • Green Park Estate defines modern lifestyle in design

    Emmanuel Udodinma

     

    IN its quest to address the continuos call for affordable and quality housing for the middle-aged income. Alpha Mead Development Company (AMDC), has opened a unique and novel housing scheme called Green Park Estate

    The Green Park Estate is a collaboration with IBILE Holdings, the investment arm of Lagos State Government.

    It has the support of key players in the mortgage industry. The Green Park Estate is a well laid out service estate built on 50 hectares site; comprising of 600 residential plots; measuring beBy Emmanuel Udodinma tween 400 to 1,000 square meters.

    The project is a 100 unit of three semi-detached – and two-bedroom terrace houses located on the fast growing Lekki-Epe within 20 minutes’ drive to Lekki Free Trade Zone and Dangote Refinery.

    Managing Director of the firm, Mr. Damola Akindolire, said the estate is meant to address three issues for the middle-income class such as the lack of access to housing finance, low quality structures and high mortgage rates.

    Akindolire said: “Access to housing finance is one of the biggest challenges of home ownership for the middle-income class in Nigeria today. With commercial mortgages at 20 to 25 per cent, home ownership is gradually becoming a tall dream for hardworking middle-income Nigerians. In the light of the above the payment scheme plan offers customer’s access to the National Housing Fund and a flexible equity contribution payable over 12 months.

    He stated that with a significant population of the country still within the middle income class, it is important to plan for the housing needs of the future and in addition generate direct and indirect jobs for the populace.

    On the mortgages available, he responded that subscribers to the projects who are NHF contributors will have the opportunity to access up to N15 million mortgage loan at an unbeatable six per cent. In addition to this, we have ensured that the equity contribution for this project is affordable and flexible he added.

    He said: “It is as simple as making a deposit of N1.5 million and spreading the outstanding equity over the next 12 months while enjoying the benefit of mortgage at 6 per cent”.

    Chairman of AMDC, Dada Thomas said: “With Nigeria’s housing deficit widening in response to its growing population, Green Park Estate is one of the ways we are catering to the growing middle-income class by delivering quality and affordable housing fast with the latest technology.

    Also speaking during the ceremony, Mutiu Sumonu, said with the widening housing deficit, it is important to think outside the box and deploy technology to bridge the housing gap.

    He revealed that the estate has Eco-friendly design and amenities with capacity to save up to 40 per cent on energy cost.

  • Smoking out slush funds from real estate

    Stakeholders in the real estate industry are routing for anti corruption agencies to investigate slush funds channeled into the sector. This is consequent upon the submission by the United Nations Development Programme (UNDP) that developing countries lose funds estimated to be 10 times more than the funding it requires for housing assistance to corruption.  OKWY IROEGBU-CHIKEZIE reports

     

     

    Every December 9, the United Nations Development Programme (UNDP) marks the anti-corruption day and encourages World leaders to join the fight against corruption.

    In Nigeria, the Economic and Financial Crimes Commission (EFCC) marked the anti-corruption war and blamed the public for not giving information to help the fight. Professionals said most stolen funds are diverted into real estate and property development.

    Just recently in Kwara State, the anti graft agency said they have recovered over 10 houses worth N3.2 billion from treasure looters and before now exotic properties have been traced to many politically exposed persons and top civil servants.

    A Federal High Court sitting in Ikoyi, Lagos, on Monday, December 2, 2019 ordered forfeiture of the Ilorin residence of the immediate past Senate President Bukola Saraki.

    The Ilorin Zonal Office of the commission had earlier approached the court presided over by Justice Ridwan Aikawa for an order of interim forfeiture of about N1 billion worth property belonging to Saraki. EFCC requested for forfeiture on the grounds that it was acquired through the proceeds of unlawful activity.

    Ex-Petroleum minister, Mrs. Diezani Alison-Madueke was alleged to own a 15-storey apartment block, comprising of 18 flats and six penthouses in an upscale Banana Island in Ikoyi worth $37.5 million and permanent seizure of a further $2.74 million and N84.54 million ($269,000) that were said to be part of the rent collected on the property .

    Former Chief of Air Staff, Alex Badeh forfeited the sum of $1 million and houses in choice areas of Abuja.

    Joining in the fight against corruption in the sector are professionals in the built environment especially the Estate Surveyors& Valuers under the aegis of the Society for Professional Valuation (SPV) who in the commemoration of the United Nations Global AntiCorruption Day called on Nigeria’s anti-corruption agencies to upscale their efforts in the fight against money laundering in the country.

    They also recommended certain measures to discourage rogue politicians to see real estate sector as a safe haven for siphoning products of corruption.

    The Association Chairman, Board of Trustees, Otunba Sola Enitan, an Estate Surveyor & Valuer in a chat with The Nation in Lagos, said that for any country to grow economically, the fight against corruption and money laundering must be thorough, adding that money laundering effects on a nation’s economy is enormous.

    He maintained that corruption is endemic, noting that over 80 per cent of all proceeds of corruption find their way into real estate, properties or the building of assets.

    He said it is evident in high brow areas of Lagos and Abuja where massive buildings are unoccupied for years.

    He said: “A high share of the population and businesses harbour un-official income. There is also the existence of a black market in the foreign exchange market, it is as if it has been legalised.

    Corruption among state executives, law enforcement and judicial officers is rampant. Poor control of financial instruments such as shares and bonds, insufficient requirements for transparency of financial transactions and ownership of assets encourage money laundering”.

    Enitan regretted that corrupt people find the sector a sure bet to hide their ill-gotten wealth and pleaded with anti-graft agencies to do something urgent to check it by applying the laws when there is an infraction.

    He said some of these people practise what he called smurfing where cash is broken into smaller deposit to avoid detection by the agencies.

    Enitan said money laundering include but not limited to anonymous cash accounts and financial instruments, including shares and bonds, insufficient requirements for transparency of financial transactions and ownership of assets.

    Others are limitation of opportunity for financial information exchange with foreign Law enforcement agencies, wide use of operations by enterprises, banks with offshore companies, imperfections in the regulation of foreign exchange transactions and other cash transactions.

    Others he mentioned are corruption among State Executive, Law enforcement and Judicial authorities and inadequacy of monitoring mechanism for activities of financial institutions, non-compliance with international financial management standards developed by specialised international organisations and Legislative securing of the financial transaction secrecy etc.

    He said: “Public officials must declare their assets before and after their term in office and an independent body such as the Independent Corrupt Practices Commission (ICPC) should ensure their declaration is true and declaration be made public.

    Pre- and post-construction development appraisal should be done to clear issues of over and under invoicing. Procurement officers of private and public institutions ought to be held accountable through professional certification and strict ethical conduct”.

    He maintained the need for Procurement officers of private and public institutions to be held accountable through professional certification and strict ethical conduct.

    The SPV boss also suggested that EFCC and NFIU have an online land registry to which a catalogue of all titled properties nationwide will be seated.

    He said the registry will ensure that owners of lands and properties will be known with cover ups exposed and their sources of wealth fully disclosed.

    On his recommendation, Enitan asked for compulsory assets declaration by public officers. He called on the Code of Conduct Bureau (CCB) to be proactive and ensure that all politically exposed persons and civil servants declare their assets before and after office.

    He reminded policy makers on the fact that it is only an Estate Surveyor & Valuer that is professionally and legally qualified to handle asset declaration and valuation.

    He canvassed the need for the anti graft agencies to work with his professional group to check the preponderance of corruption especially in the real estate sector.

    He asked that unoccupied properties should be taxed insisting that because the monies used in procuring the properties were proceeds of crime the owners of such building allow them to waste.

    He encouraged the government to tax such property owners heavily to raise revenue as in the first place the monies used to build such is not owed by them.

    On the effects of corruption on the economy, he said it can weaken the financial sector and even cause a glut in the real estate sector in a particular segment of the economy.

    Another Estate Surveyor & Valuer, Isaac Fabuiyi, said the law mandated them to register with the Special Control Unit against Money laundering (SCUML) if a client exceeds the limit of transaction approved by law.

    He said the EFCC law states that any transaction that is above certain limit should be reported to the agency but he confessed that his colleagues have a challenge with non disclosure by some clients.

    He maintained that it’s not their duty to report their clients but take necessary precaution to ensure that the wrong clients do not come to them.