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Tag: ESVARBON

  • ESVARBON gets first female registrar

    ESVARBON gets first female registrar

    The Estate Surveyors and Valuers Registration Board of Nigeria (ESVARBON), has ratified the appointment of Mrs. Shehu Oyeteju Janet as the new registrar of the Board.

    The Board in a unanimous decision earlier this month confirmed Shehu’s appointment, who is the sixth and the first female to occupy that exalted office.

    Shehu, a fellow of the Nigerian Institution of Estate Surveyors and Valuers (NIESV), until her appointment was the deputy registrar of the Board and head of the Northern Region and Registration Unit.

    In her new role, she will oversee the administration of the secretariat, registration and regulation of estate surveyors and valuers across Nigeria, upholding professional standards and promoting excellence in alignment with the vision and mission of ESVARBON.

    Read Also: Fashola, ESVARBON to estate surveyors: uphold professional standards

    In a congratulatory message signed by the Board’s chairman, Gershom Henshaw and made available to The Nation, ESVARBON said it believes that the new registrar’s commitment to the overall success of the Board will justify the confidence repose in her.

    Among other duties, ESVARBON secures the establishment and maintenance of a register of persons entitled to practice as estate surveyors and valuers and the publication of the lists of such persons.

    The Board also regulates and controls the practice of estate surveying and valuation in all its aspects and ramifications.

    ESVARBON also determines what standards of knowledge and skill are to be attained by persons seeking to become registered as estate surveyors and valuers and reviewing such standards from time to time for the purpose of raising them.

  • ESVARBON seeks patronage, proper remuneration of valuers

    To ensure proper implementation and compliance with the recently-launched National valuations standards, also called Green Book, the Estate Surveyors and Valuers Registration Board of Nigeria (ESVARBON) has rolled out a comprehensive capacity building programme for stakeholders, estate surveying and valuation practitioners.

    The two-day event, held in Lagos, received full complements of financial institutions, credit officers, regulatory agencies, valuation teachers and registered estate surveyors and valuers.

    Chairman of ESVARBON, Sir Nweke Umezurike said the training was geared towards bringing the relevant stakeholders on the imports of the valuation standards in their works. It is also aimed at making the stakeholders see the efforts of the board in improving the valuation practice.While urging the clients to reciprocate by paying what is fair to the practitioners, Umezurike wants the clients to patronise registered valuers rather than their friends and relatives in order to reduce the frequency of valuation reviews.

    He stressed that the key professional document was produced by ESVARBON last year in fulfillment of its obligations under the enabling Act to ensure greater transparency and responsibility in valuation practice in Nigeria.

  • Real estate group eyes big ticket jobs

    Seven real estate experts have formed a group to enable them handle big ticket jobs.

    Known as the Real Royal Professionals, the group has got the nod of Estate Surveyors & Valuers Registration Board (ESVARBON). With the approval, the consortium will operate as a body of experts in surveying and valuation.

    The lead consultant of the group, Chima Emele, said the consortium would fill the need for bigger firms in the profession.

    At the inauguration of the group in Lagos, Emele said it would promote the value espoused by ESVARBON, which is for firms to merge to successfully bid for large jobs from the government, companies and individuals given the the expertise in different fields each of the firm would bring to the table.

    According to Emele, this is because it is better for firms with expertise and core competencies various aspects to form a bigger body to pitch for accounts.

    He said: “Our group of seven members have various competencies as individuals and have agreed to work together to deliver services to our clients. We believe we will be more relevant as a group that we are now rather than individuals. We have fellows of the institute, associate members, lawyers, tax consultants, accountants and many more. The consortium is positioned to handle any job, indeed all that it takes to deliver competitive service rather than individual companies is in our kitty.”

    Emele said the institution has been urging firms to merge to have access to bigger jobs, adding “that the bigger the merrier.”

    The idea, he said, is that instead of individual firms that may not make huge impact on the society as units, coming together will enable the consortium to deliver better service.

    He said: “If a job is advertised and we give you our profile and you see the calibre of people there, you will not have any option but to consider us for the job because we have professionals in all aspects of agency management. The beauty of the team is that we cross-fertilise ideas, debate, fine-tune and come out with the best idea, process and procedure for our clients. For instance, I am a professional in plant and machinery; another member is a facility management expert, property valuation, agriculture valuation and agency. In essence, any job we prospect for, we have a specialist that will be in charge to ensure we deliver the best to our prospective clients. It is the best for the profession, the nation and also for the public who may need our service,” Emele said.

    He said there is a memorandum of understanding (MoU) binding their operational guideline on their actions and resolutions in all that they do.

    Furthermore, he said the consortium has an arbitration unit that can resolve issues and disputes including model for profit sharing.

    Head of Department of Estate Management, Yaba College of Technology, Pastor Benjamin Ajayeoba, while commending the consortium, hailed the firms for coming together as most of them are his former students. He encouraged them on professionalism, integrity and openness. Noting that that is the only way they can succeed.

  • New adhesive stamp vital to surveying, say valuers

    Key stakeholders played a key role in the new stamp  unveiled to enhance professionalism in the sector, the Estate Surveyors and Valuers Registration Board of Nigeria (ESVARBON) Sir Nweke Umezurike has said.

    He said the measures were geared towards catching up with the global trend.

    He recalled the excitement that greeted the introduction of adhesive stamp in valuation reports, especially by banks, other financial institutions and corporate bodies.

    He added that this enthusiasm spurred the association to introduce the adhesive stamp.

    Umezurike spoke when he met officials of the Institute of Chartered Accountants of Nigeria (ICAN), the Chartered Institute of Bankers of Nigeria (CIBN), the Financial Reporting Council of Nigeria (FRCN) and  one of the oldest real estate firm, Knight Frank in Lagos.

    Umezurike explained that the new stamp is personalised with the practitioner’s name and seal or registration number and easier to use with security features to avoid cloning and counterfeiting.

    He said It became operational from  January 1, this year, and wousld be used simultaneously with the old stamp until June ending, when the the old stamp would be phased out, he added.

    On how to confirm the authenticity of the stamp the ESAVARBON chief said the new stamp is bright blue and aesthetically pleasing.  On the documents that must carry the stamp, he said they are  are valuation/appraisal reports-individuals and private sector organisations; letter of offer; arbitration, mediation and independent experts awards; project management, agreement and reports. Others are property and facilities management control and agreement; auction agreement and notices; agency agreements for sales and letting, and compensation indemnity certificates.

    Sir Nweke said as a regulator, the tour was necessary to intimate organisations and other key stakeholders on efforts to ensure that practitioners deliver standard services to clients.

    Umezuruike said the stamp would better regulation/control in the practice of the profession; establish a regulatory compliance and enforcement unit and the introduce the valuation standards otherwise called, ‘The Green Book’.

    According to the chairman,  the document is aimed at ensuring consistent high standards, stressing that it’s a product of local and international collaborations with key stakeholders in the profession.

    On the reason for its continued value enhancement, he said: “The reason for the improvement in the form and application of the adhesive stamps to its varied uses is to enhance better regulation. The stamp has become operational from January 2019 and will be used simultaneously with the old adhesive stamps until the end of June, when the use of the old stamp will be discounted”.

    According to him ESVARBON is determined to fulfill it’s mandate as provided in Section 2 of it’s enabling Act and no stone shall be left unturned in achieving the mandate. We seek the cooperation and collaboration of your council in ensuring that we have regular feedbacks and valuable inputs into our regulatory works”, he added.

    Addressing the team at the Knight Frank real estate firm in Lagos, the Chief Executive Officer, Albert Orizu, said the introduction of the stamp and other initiatives were notable efforts that would boost standards and international competitiveness.

    He commended the board for reducing the cost of the stamp, saying it would be easy for members to buy.

    The firm, however, raised concerns over non-uniformity of scale of professional fees and tasked the board to review the system.

    While receiving ESVARBON members, the Chartered Institute of Bankers of Nigeria (CIBN) President/Chairman of Council, Mr. Uche Olowu, stressed that professionals in the economy must make it work because the nation remains the next frontier for rapid economic development in Africa.

    According to him, the adhesive stamp speaks volume to commitment to quality service, stressing that standard is key for people.

    Olowu said CIBN is the appropriate channel to reach bankers and expressed its readiness to work with ESVARBON to fulfill its mandate.

    “On our part, we have three core mandates, which include regulating the standard of those seeking to do banking, capacity building for members and advocacy. We set up committee of practice to make sure that knowledge is passed on to the young ones,” he stated.

    Institute of Chartered Accountant of Nigeria (ICAN) President, Rasak Jaiyeola said estate surveyors and valuers are critical to growth.

    He lauded the association for standardising the profession.

    Jaiyeola charged them to provide a platform for accountants, where they could learn the use of the Green Book as well as advise them to consider a review of scale of professional fee charges to encourage patronage from the government.

    During a visit to the Financial Reporting Council of Nigeria (FRCN), its Executive Secretary/Chief Executive Officer, Mr. Daniel Asapokhai,  lauded the board for attaining membership of the International Valuation Standard Council (IVSC), a global standard-setting board for valuation practices.

    On the green book, he admonished ESVARBON to ensure that practitioners practise the rules in the document and urge those who want to do valuation for financial specialise to register with the FRCN.

  • ESVARBON inducts 163 estate surveyors

    NO fewer than 163 new members of the Nigeria Institute of Estate Surveyors and Valuers (NIESV) have been inducted by the Estate Surveyors and Valuers Registration Board of Nigeria (ESVARBON) in Lagos.

    The new members, who were urged to be good ambassadors of the profession, were given seals and stamps at the 34th induction ceremony held at the Senate Chambers of the former National Assembly Complex, Tafawa Balewa Square, Lagos.

    The chairman of ESVARBON, William Odudu, said the induction has pushed the number of estate surveyors in the country to 3395.

    According to him, the number was considered low and should be worked upon. He noted that one of the major challenges of the board was how to accelerate the registration of new entrants into the profession in order to meet with the rapidly growing population of the country.

    He said the stamps, seals and certificates given to them were the properties of the board and that it reserved the right to withdraw them any time the board feels it has been abused by members.

     

  • Estate surveyors move against quacks

    How can quacks be stopped from the surveying profession? It is by registering more qualified surveyors and valuers, Estate Surveyor and Valuers Registration Board of Nigeria (ESVARBON), says Mr. Ayodele Sangosanya, chairman.

    He spoke this at the 32nd induction for new estate surveyors in Lagos, last weekend.

    Sangosanya said the institute was collaborating with some law enforcement agencies to check pseudo-practice and said the board had taken to court some quacks who did not heed its warning.

    The board, he said, had approved the use of pseudonym for persons who wish to practise estate surveying and valuation without their families names. The board has forwarded guidelines for the formation of mega-firms with pseudonyms to the Federal Ministry of Lands, Housing and Urban Development for gazetting. On the change, he explained that it was to encourage mega practice in line with international best practices.

    Sangosanya advised estate surveyors & valuers to maintain integrity and discipline in the discharge of their duties.

    He said another challenge the Board was facing is how to accelerate the registration of new entrants to meet with the rapidly growing population of the nation.

    Out of a population of over 160 million, the Board, he said, in finding ways of producing many more registered estate surveyors and valuers without lowering standards.

    The guest speaker and a former president of the institution, Mr Yinka Sonaike told the inductees that the stamp, seal and certificate they have been given were life instruments provided they are not misused. He encouraged them to be disciplined and work on having a solid reputation, which requires sacrifice and of immense importance to the profession.

    President, Nigeria Institution of Estate Surveyors & Valuers (NIESV), Mr Emeka Eleh, urged members to assist the proposed learning centre financially. The president who was represented by a former President of the institution, Mr William Odudu, also disclosed the plans of the institution to upgrade centre to a degree-awarding college.