The Real Estate Developers Association of Nigeria (REDAN) has expressed its readiness to continue collaborating with the Special Control Unit Against Money Laundering (SCUML) department of Economic and Financial Crimes Commission (EFCC) to sanitise the real estate business in Nigeria.
This was stated by the Real Estate Developers Association of Nigeria (REDAN) President, Alhaji (Dr) Aliyu Oroji Wamakko when the newly appointed director of SCUML, Mr. Daniel Isei visited him yesterday at REDAN Abuja Secretariat.
Wamakko said, as a self-regulatory for the real estate sector, the body is poised to collaborate with the EFCC to sanitise the real estate business in the country, adding that it is working with other sister organisations such as the Nigeria Financial Intelligence Unit (NFIU) among others to achieve the goal.
The REDAN president restated that the association has instituted the Estate and Product Endorsement Scheme to enhance standardization of members’ estates who comply with extant laws and building codes amongst others requirements.
He further said that the association is endorsing Building Materials Producers that have acquired certifications of the Standard Organisation of Nigeria Conformity Assessment Programme (SONCAP), Mandatory Assessment Programme (MANCAP) and other criteria.
He said, ‘’To give credence to our determination to sanitise the business of real estate development and ensure that our accredited members are differentiated from others brief case business men posing as developers, we have introduced and launched the ‘REDAN Seals’ to be used by accredited members whose estates have been endorsed as well as building material companies’ products that have been endorsed.’’
Wamakko assured the EFCC team that the association will work assiduously with the anti-graft agency to ensure that its members adhere to its guidelines and extant laws.
SCUML is charged with the responsibility of monitoring, supervising and regulating the activities of Designated Non-Financial -Institutions (DNFIs) in line with the Money Laundering (Prohibition) Act ML(P) Act 2011 and the prevention of Terrorism Act (PTA) 2011.