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REDAN, EFCC Parley Against Money Laundering In Real Estate Sector

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 REDAN president, Alhaji Aliyu Wamakko, when the newly appointed director of SCUML, Mr. Daniel Isei, visited him on Wednesday at REDAN Abuja secretariat.

Wamakko said as a self-regulatory for the real estate sector, the body was poised to collaborate with the EFCC to sanitize the real estate business in the country, adding that it was working with other sister organizations 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 standardisation of members’ estates who comply with extant laws and building codes amongst other requirements.

He further said that the association will endorse building material 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 briefcase businessmen 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.

Credit: Leadership

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