The Nation Newspaper

Tag: NIESV

  • ‘Estate surveyors valuers stimulating economy’

    ‘Estate surveyors valuers stimulating economy’

    Estate surveyors and valuers have been described as professionals stimulating the economic growth of the country.

    This was the submission of the Group chairman, NGX Group, Alhaji Umaru Kwairanga, who was the Chairman of the 2025 Nigeria Institution of Estate Surveyors & Valuers (NIESV) Membership Induction Ceremony held yesterday in Lagos.

    He stressed that valuation, which is the bedrock of the estate surveying profession, actively strengthens the country’s financial markets which encourage transparent bankable projects that serve as enablers to the growth of the economy.

    Special Guest of Honour, Chairman / CEO, The Address Homes Limited, Bisi Onasanya, encouraged the inductees to step up their game in professionalism to weed out the quacks. “Learn to walk out of a brief that will taint your integrity; there is no substitute to haerdwork. Most people who fail in life are those who quit not knowing how close they are to winning,” he urged.

    Earlier, the Guest Speaker, Executive Secretary, Financial Reporting Council (FRC), Nigeria, Dr.  Rabiu Olowo, told Estate Surveyors that their work and activities have consequences for regulators in the financial sector and therefore need to imbibe the highest ethical standards in conduct and practice.

    “Valuation is the backbone of fair value measurement. Poor valuation leads to systematic risk and can lead to poor investment judgment. To produce a robust financial account it bench marked internal practices and emerging economies. Under my watch financing reporting ecosystem compliance will be binding not optional and will guide auditors,” he assured.

    Read Also: The Alternative Bank, Plateau unite to transform livestock sector

    Olowo advised the inductees on credible financial and reputational actions by insisting on accountability to deepen financial transparency.  He added that credible financial reporting can only galvanise transparency. He also asked them to avoid conflict of interest and insist on challenging unreliable information and status quo.

    President Nigeria Institution of Estate Surveyors & Values (NIESV) Dr. Victor Alonge, told the Inductees that their induction as members of the profession is a product of determination, resolve and hard work in the last two or more years, in the course of which you sat for, and passed the required qualifying professional examinations.

    He said: “You successfully completed your two years internship, and test of professional competence in addition to meeting every other requirement for admission into the professional membership of the institution”.

    “Let me at this point emphasise  that your induction as a professional member of the institution has imposed  on you the responsibilities, as well as the challenges of standing tall in transparency, accountability and integrity. It is required of you

    “In our ever-evolving world of business, where cutting-edge technology and sophisticated strategies often taken the center stage, there is one thing that has always held my unwavering commitment, and which I am recommending to you; knowledge acquisition the hallmark of wisdom has put in place Mandatory Continuous Professional Development (MCPD) to serve as the platform for upward mobility in the profession”

    “As a profession, we have significantly impacted the Nigerian space, both the private and public sectors of the economy. We have produced highly resourceful and professional members with sound ethical practices as is obtainable globally”, he added

  • NDIC seeks NIESV’s partnership on failed banks’ valuation

    NDIC seeks NIESV’s partnership on failed banks’ valuation

    The MD/CE of the Nigeria Deposit Insurance Corporation (NDIC), Mr. Oludare Sunday, has called on the Nigerian Institution of Estate Surveyors & Valuers (NIESV) to strengthen strategic collaboration with the Corporation.

    In a statement, the NDIC boss said the corporation relies on NIESV members for accurate and credible valuation of assets of failed banks, which is critical for effective liquidation and payment of depositors.

    The MD/CE made the call during a courtesy visit by the President/Chairman of Council of the NIESV, Dr. ESV. Victor Adekunle Alonge, and members of his executive team to the NDIC Head Office, Abuja.

    The NDIC Chief Executive explained that the Corporation relies on precise and credible valuation reports during the liquidation of failed banks to determine the true worth of assets, which enables their sale at the best possible value.

    Read Also: ‘Reliance on foreign model stunts growth’

    Sunday further noted that proceeds from the sale of these assets are applied toward the payment of depositors’ balances above the insured amount, making accuracy and professionalism in valuation essential to protecting depositor funds. He emphasized that NIESV’s professionalism therefore contributes directly to financial stability and depositor protection by ensuring transparency, fairness, and value-for-money in the disposal of assets and the recovery process.

    While calling on the leadership of the Institution to uphold the highest ethical standards and guard against insider abuse, the NDIC Chief Executive added that the Corporation is further strengthening its internal processes, including the development of a comprehensive Asset Management Policy to guide asset identification and documentation, valuation procedures, disposal strategies and transparency and accountability in recoveries.

    The NDIC Chief Executive emphasized the need for stronger collaboration between both institutions, noting that the Corporation welcomes opportunities for joint training and knowledge exchange between NDIC staff and NIESV professionals, particularly in emerging valuation methodologies, asset management, and sustainable valuation practices.

    President/Chairman of Council of the NIESV, Dr. ESV. Victor Adekunle Alonge reaffirmed the Institution’s commitment to professionalism and integrity.

    He explained that NIESV was established by an Act of Parliament and maintains strict disciplinary procedures to sanction any member found to be unethical or unprofessional. He reaffirmed the Institution’s commitment to sustained cooperation and technical support to the NDIC, noting that the partnership remains vital to enhancing service delivery and strengthening public confidence in the banking system.

    The courtesy visit underscored the shared commitment of both institutions to deepen collaboration, enhance professional standards, and strengthen the bank liquidation process in Nigeria for the overall stability of the financial system.

  • UN agency honours NIESV boss Alonge

    UN agency honours NIESV boss Alonge

    United Nations Commission for the Status of Women (UNCSW) has honoured President of the Nigerian Institution of Estate Surveyors and Valuers (NIESV), Mr. Victor Alonge.

    In an event at the United Nations headquarters in New York last week, Alonge was recognised for his dedication, consistency and impactful support for African women’s status advancement initiatives.

    The award was presented to him by Mrs. Margaret Ovonlen at a modest ceremony.

    Read Also: Nigerians will not regret Tinubu’s leadership, Ganduje assures

    Alonge’s contributions to leadership and advocacy in fostering gender equality and empowering women across Africa were highlighted.

    His efforts, according to the organisers, have contributed to initiatives that promote inclusivity, professional development and economic opportunities for African women.

    Mrs. Ovonlen says NIESV celebrates “this well-deserved recognition and remains committed to supporting impactful leadership that drives positive change globally.”

  • NIESV backs best practices for industry growth

    NIESV backs best practices for industry growth

    • By Evelyn Osagie and Anu Ajibade

    Nigerian Institution of Estate Surveyors and Valuers (NIESV) has tasked its members to invest in continuous retraining and best practices in the profession fostering growth.

    According to industry experts, to gain actionable strategies for navigating the complexities of volatile, uncertain, complex, and ambiguous (VUCA) world, professionals must adapt to thrive in the competitive and evolving business environment.

    They made the submission at NIESV the Head of Practice Assembly, organised by the NIESV Lagos branch in Ikeja, Lagos. To boost competence and changing dynamics in the socio-economic spheres, NIESV President, Mr Victor Alonge, urged heads of practice to embrace skilling and reskilling for relevance in today’s VUCA environment.

    According to him, such deliberate efforts are central components of professional development and organisational growth in a VUCA and technology-driven 21st century.

    He revealed that the work environment is being transformed and Referring to the theme: “Thriving in a VUCA Environment”, Alonge called for a redefinition of processes, restructuring of practices, and collaborations.

    Read Also: PROFILE: Meet new Rivers Sole Administrator Vice Admiral Ibas

    He said: “Practitioners must upscale their knowledge, expertise and competence in every area of practice. New skills, new processes, new structures, new technology, collaboration for growth and profitability must be the major drivers of transformed practices. Professionals and practices that would thrive today and in the future need to know how to generate new knowledge to meet the demands of the modern-day market and to practice professionally within the gauge of international standards.

    “This is a time to think and be innovative in practice and deliver services within the framework of the rapidly changing world. We must be proactive; we must be vigilant to thinning out the boundaries of professions, including estate surveying and valuation by threats emanating from e-commerce, virtual reality, greater dependence on information technology and Artificial Intelligence.”

    The NIESV president pledged the commitment of the national body towards sustaining the ongoing innovative reform measures, to entrench transparency and nurture a pervasive culture of accountability in the system.

    For the chairman of NIESV Lagos State Branch, Gbenga Ismail, getting abreast with technological innovations in the industry is key to breaking new grounds. “If you’re not aware about technology and the issues that are coming up, or how to use technology to your advantage, then you’re going to go extinct. That was why we brought together all the firms to discuss all the issues about challenges, opportunities that are going on, so that everybody knows what is happening,” he said.

    Speaking on the theme, “Thriving in a VUCA Environment”, the MD of Leadway Asset, Mr. Bode Alao, who gave the keynote address, said: “We must evolve in technology in our mindset, the way we do our businesses, and engage the young ones, (future investors)”.

  • Rain of tributes for visionary leader

    Rain of tributes for visionary leader

    The Nigerian Institution of Estate Surveyors and Valuers (NIESV) has paid its final respects to Elder Olatunde Adegbemile, who passed away on December 25, 2024, at the age of 89. A founding member and the 10th Chairman of the Royal Institution of Chartered Surveyors-Nigeria Group, Elder Adegbemile was widely regarded as a visionary leader and a distinguished professional. Alongside his peers, he played a pivotal role in establishing the institution, which today stands as a pillar of excellence in the profession. Known for his vast knowledge and expertise, he co-founded Adegbemile, Akinlosotu & Co and served as its Managing Partner until his passing.

    NIESV President and Chairman of Council, Victor Alonge, praised Elder Adegbemile’s unwavering dedication, integrity, and commitment to the profession. He highlighted Adegbemile’s exemplary service as Honorary Secretary of the Lagos State Branch, Honorary National Secretary of the institution, and Chairman of the Estate Surveyors and Valuers Registration Board of Nigeria.

    “His contributions to the growth and progress of the institution will forever be remembered. He was a beacon of selflessness, integrity, and forthrightness. We are grateful for the life he lived, the service he rendered, and the indelible mark he left on our profession”, Alonge stated.

    Reflecting on his legacy, Alonge added: “Though he has embarked on his final journey, his essence lives on. He leaves behind undeniable legacies—an embodiment of humility, inspiration, and dedication. His life remains a model for all to emulate”.

    Elder Adegbemile dedicated his life to expanding the influence of the estate surveying profession, upholding its highest ideals, and demonstrating a relentless commitment to excellence. Alonge urged members of the institution to embrace the values Adegbemile embodied and let his legacy inspire future generations.

    To his family and loved ones, he offered words of comfort, affirming that Elder Adegbemile had merely answered the call to eternal glory and now rests in the presence of the Almighty.

    The Chapter President, FCAI Akin Opatola, described Elder Adeghemile as a visionary leader and a pillar of excellence, highlighting his dedication, expertise, and leadership. He emphasised that Elder Adeghemile’s unwavering commitment to excellence and professionalism profoundly impacted the field, inspiring countless individuals and leaving an enduring legacy within the institution.

    His steadfast dedication to integrity, ethics, and best practices served as a guiding light, offering hope and inspiration to many. He mentored numerous professionals, generously sharing his vast knowledge with humility. Always approachable, his counsel was highly regarded, and his influence will continue to shape future generations, motivating them to strive for excellence.

    According to Opatola, Elder Adegbemile was a trailblazer who recognised the profession’s growth potential and worked tirelessly to advance its interests. His contributions were invaluable, and his efforts yielded lasting benefits in many ways.

    “We remember him as a man of wisdom, compassion, and kindness—a loyal friend, a trusted colleague, and a devoted family man. Though his passing leaves an irreplaceable void, his memory will forever remain in our hearts and minds,” Opatola expressed, vowing to uphold the high standards of professionalism that Elder Adegbemile championed.

    Chairman of the Estate Surveyors and Valuers Registration Board of Nigeria (ESVARBON), Dosu Fatokun, described the late ESV Olatunde Adegbemile as a distinguished professional whose career exemplified the long-advocated model for sustainable growth in the profession. He noted that Adegbemile’s extensive tenure as a partner at the reputable firm of Fox and Company laid a strong foundation for the firm’s eventual indigenization, transitioning into Adegbemile, Agangan, Akinlosotu and Co under his leadership.

    Read Also: Fed Govt partners Ekiti farm to enhance food security

    Fatokun highlighted Adegbemile’s reserved nature, emphasising his significant contributions behind the scenes toward the orderly development of the profession through quality counsel and active participation in developmental programs.

    “As the 5th Chairman of ESVARBON, serving from 1990 to 1996, he set an exceptional standard of dedication and professionalism. His tenure was marked by an unwavering commitment that continues to inspire us all. His passing is a profound loss to our profession, and his contributions will always be remembered,” Fatokun stated.

    He further noted that Adegbemile’s leadership was defined by vision and steadfast dedication. His tenure saw a remarkable 110.27per cent increase in the number of registered Estate Surveyors and Valuers, rising from 448 to 942 by 1996. Additionally, he successfully lobbied the supervising Ministry of Works and Housing to release the professional subventions allocated to ESVARBON in the national budget.

    As the Board’s longest-serving Chairman, Adegbemile’s influence extended far beyond his official duties, fostering a culture of integrity and excellence that remains foundational to the profession. Fatokun described him as a mentor who was always willing to share his vast knowledge and experience, with a passion for estate surveying and valuation that was matched only by his dedication to the profession’s growth and evolution.

    Acknowledging the significant milestones achieved under Adegbemile’s leadership, Fatokun reaffirmed the Board’s commitment to preserving his legacy and continuing to shape the profession’s future in his honour.

    •           

  • ‘How to unlock revenues from tenement rates’

    ‘How to unlock revenues from tenement rates’

    Repositioning tenement rate administration is pivotal for achieving economic growth and development.

    Although some controversies have often marred the process in the past, effective administration of tenement rating can generate substantial income for the relevant authorities. This is however, premised on the fact that the challenges are confronted directly says  a former President of Nigeria Institution of Estate Surveyors & Valuers( NIESV)  Chief  Emmanuel Okas Wike.

    He spoke at    the 31st Annual John Wood  Ekpenyong Memorial Lecture and 2025 Fellows’ Induction Ceremony of the Nigerian Institution of  Estate Surveyors  & Valuers (NIESV) in Lagos over the weekend.

    He spoke on a theme: ‘Repositioning Tenement Rate  Administration For Economic Growth & Development’.

    He urged local governments to establish a proper institutional framework, with licensed Estate Surveyors and Valuers managing the administration of tenement rates and all property-related taxes. 

    According to him this approach will enhance the effectiveness and efficiency of the process.

    He said: ‘By implementing this framework, local governments will not only increase their income but also empower themselves financially to better meet their responsibilities to their communities’.

    In his paper he advised that Estate Surveyors and Valuers are the right professionals to manage tenement rating, as they possess the expertise required for this task.

     He further explained that Estate Surveyors and Valuers play a crucial role in nation-building, particularly in the areas of revenue generation and wealth creation for all levels of government which in turn will contribute to improved public services, infrastructure development, and economic stability.

    ‘Studies have highlighted that well-structured tenement rate systems can significantly contribute to urban development and poverty alleviation.

    Wike explained that the tenement rate, often categorized under property tax, is a levy imposed on buildings based on their rental value. He noted that according to economic theories of taxation, property taxes are pivotal for local revenue mobilization, reducing dependence on external funding sources

    Read Also: Minister inaugurates Abraka-Oben road rebuilt by NDDC

    According to the former NIESV President, this process requires a high level of professionalism, which only Estate Surveyors and Valuers can provide.

    He therefore called on local governments to see Estate Surveyors and Valuers as key partners and co-drivers in fostering economic growth and development

    ‘The expertise of the Estate Surveyor and Valuer is required in unlocking vital sources of land-based taxation, tenement rates and ground rents, undertaking rating valuation to determine the rates payable to the coffers of the local governments’.

    He also stated that they are properly trained to  carry out rating valuation, in addition to being able to assist in collection of the rates.

    He advised that the country cannot afford to keep losing income making it necessary to reposition Tenement rate administration for economic growth and development.

    ‘ In  today’s Nigeria, where widespread hunger, unemployment and poverty undermines rapid economic development, where federal allocation is grossly inadequate to enhance infrastructure development and provision of essential services, Internally Generated Revenue, including tenement rate would go a long way in boosting local government income, provision of services and amenities, economic growth and development’. But it must be handled by professional Estate Surveyors and Valuers. This is the only way to ensure that tenement rate administration would facilitate access to a stable revenue base, enhance job and wealth creation, economic development and nation building he added. 

    Earlier, NIESV President, Victor Adekunle Alonge advised those who were conferred the Fellowship of the Institution to uphold the ethics of the profession and practice the profession in dignifying manners. Also, he spoke on the need for retraining and up-skilling to be competitive as professionals.

    He said: ‘ Estate Surveying profession is evolving, and so are developments within the real estate space. Council in recognition of this prioritised skills acquisition for best practices in line with current global trends’.

  • NIESV Lagos branch hosts fellows

    NIESV Lagos branch hosts fellows

    Nigerian Institution of Estate Surveyors and Valuers (NIESV), Lagos State branch, will host fellows of the chapter to a lunch on December 12.

    The Chairman, Fellows Committee of Lagos State branch, Chudi Ubosi, made this known in a statement .He says fellows from the Lagos State chapter are expected to attend the programme, which intends to generate practice ideas from multiple perspectives, where contemporary issues affecting the profession, corporate governance, management, ethics and the economy shall be discussed.

    Read Also: NIESV Lagos branch hosts fellows

    The statement said the Chairman of Lagos branch, Gbenga Ismail, would  be the chief host, with the Chairman of Lagos Free Trade Zone, Mr. Biodun Dabiri, serving as the guest speaker at the programme scheduled to hold at Metropolitan Club, Victoria Island, Lagos.

  • NIESV seeks govt collaboration to end land grabbing in Oyo

    NIESV seeks govt collaboration to end land grabbing in Oyo

    A member of the Nigerian Institution of Estate Surveyors and Valuers (NIESV) Oyo State branch, Biyi Adesanya, has called for collaboration between Oyo State Government and estate surveyors to combat land-grabbing in the State.

    He said the move will bring an end to the long-standing problem of land grabbing in Oyo State.

    The Oyo State government has declared zero tolerance for land-grabbing activities, including forceful entry, illegal occupation, and fraudulent practices. To achieve this, the government plans to establish a task force dedicated to tackling land grabbing.

    Speaking in Ibadan at the recognition and awards ceremony of the Hope Harriman Memorial Annual Secondary Schools Essay Competition, Adesanya, who was the Chief host, maintained that by working together, government and estate surveyors can create comprehensive solutions to the issue.

    According to him, effective collaboration will require open communication, mutual understanding, and a commitment to transparency. 

    He said with the combined expertise of estate surveyors and the government’s dedication to combating land grabbing, Oyo State can make significant progress in addressing this persistent problem

    He said land grabbing has become rampant in the state, particularly in Ibadan, becoming a vice in the ancient city.

    He noted NIESV members can only do little as far as land grabbing is concerned, saying as a professional body, they play only advisory roles towards ending the menance.

    He lamented the selling of lands is been mostly handled by non-professionals, with most of it leading to controversy and litigation.

    Read Also: NIESV Lagos branch hosts fellows

    “Government should always consult professionals when it comes to issue of land and landed property, government should call for roundtable dialogue with our members on ways to curb land-grabbers across the state,” he stressed.

    A lecturer at the Department of Estate Management, University of Ibadan, Dr. Adebola Adeyemo, urged students to invest in their future and allow passion guide their careers.

    Recipients of the awards include: Oloye Abdur-Rasaq Ajao (Distinguished Veteran Mentorship Award); Prof. Cyril Ajayi (Distinguished Professional Mentorship Award); ESV Suraju Yaya (Outstanding Trainer Mentorship Award); United Missionary Comprehensive College, Ibadan; Queens School, Ibadan; Oritamefa Baptist Model School and all Alumni of Harriman & Co.

    Exif_JPEG_420
  • NIESV Lagos branch hosts fellows

    NIESV Lagos branch hosts fellows

    Lagos State branch of Nigerian Institution of Estate Surveyors and Valuers (NIESV) will host fellows of the branch to a lunch on December 12.

    This was made known yesterday in a statement by the Chairman, Fellows Committee of the Lagos State branch, Chudi Ubosi.

    Ubosi encouraged fellows from the Lagos State branch to attend the programme, ‘’which intends to generate practice ideas from multiple perspectives, and where contemporary issues affecting the profession, corporate governance, management, ethics and the overall economy shall be discussed.’’

    Read Also: Tinubu vows to tackle insecurity, sanitise economy

    The statement said the Chairman of Lagos State branch of NIESV, Gbenga Ismail, would be the chief host, with the Chairman of Lagos Free Trade Zone, Mr. Biodun Dabiri, serving as the guest speaker at the programme scheduled to hold at Metropolitan Club, Victoria Island, Lagos.

    For further information, contact: 08037039392, 08033010661, 08023055443.

  • NIESV to hold training

    NIESV to hold training

    Lagos State branch of the Nigerian Institution of Estate Surveyors and Valuers (NIESV) has announced its 2024 Mandatory Continuing Professional Development (MCPD) programme.

    In a statement yesterday, President and Chairman of the NIESV Council, Victor Alonge, said the training, set to take place on Thursday at the Lagos Chambers of Commerce and Industry, Victoria Island, Lagos, would  focus on enhancing the skills of estate surveyors and valuers in navigating the evolving real estate landscape.

    The event will begin at 10am.

    Alonge said the first session titled: ‘Embracing Technology: The Future of Real Estate Services’, would be facilitated by Femi Madariola, Partner at PwC. ‘’This session will highlight the transformative impact of technology on modern real estate practices.’’

    Read Also: Counter-terrorism: FG to acquire 24 M-346 jets, 10 Trekker helicopters

    The second session, ‘Adapting to Market Disruptions: How to Navigate the Changing Real Estate Landscape and ChatGPT’, he also said, would be led by ESV Akin Opatola, Principal Partner at Olawale Jordan & Co. ‘’This segment will discuss market changes, technological disruptions and the role of artificial intelligence (AI) in the real estate industry.

    The third session, ‘Use of Google Maps/GPS in Identifying, Locating Properties and the Use of Drones in Real Estate’, facilitated by TPL Gabriel Adeyanju, Managing Partner at Gable Consults, will explore how digital tools such as Google Maps, GPS and drones are revolutionising property management and identification.

    The Chairman of the day, Otunba Bola Onabadejo, urged members and non-members to register for the MCPD programme. The registration fees range from N10,000 for students to N30,000 for non-members, with virtual participation priced at N20,000. Registration can be completed online at the provided link.

    Payment into: NIESV Lagos State branch – 0069362241 Sterling Bank

    Registration link: http://forms.gle/sstzK5cnwXj2KZwW8