19 June 2021 By Remi Johnson
Worried by speculations of corrupt practices, the Real Estate Developers Association of Nigeria (REDAN), has inaugurated a 10 -man committee to check members’ involvement in money laundering and swindling of prospective home owners.
Inaugurating the committee in Abuja, REDAN President, Aliyu Wamakko who explained that the association would not spare any member that flaunts professional ethics, said the move to sanitise the sector was geared towards redeeming the image of the association.
He assured that the committee members which comprises men and women of impeccable character and requisite qualities would flush out the bad eggs in the sector.
Reacting to the EFCC boss statement that 90 percent of money laundering cases were discovered in the real Estate sector, Wamakko said many from other professions joined real estate development, hence the need for the sector to be protected by real members.
Wamakko, therefore advocated for a robust collaboration and the involvement of stakeholders in the security agencies.
He enjoined REDAN members to maintain high level of professionalism in carrying out their businesses, even as he expressed optimism that sanitising the sector from money launderers and fraudsters was possible.
The Chairman of the newly inaugurated committee, who is also the Secretary, REDAN FCT Chapter, Ehikioya Okoruwa,on behalf of members ,promised to deliver their mandate in accordance with the specified terms of reference.
The Chairman, Economic and Financial Crimes Commission (EFCC) Abdurasheed Bawa had said that the real estate sector has a grand standing of corrupt practices in the country, over issues of money laundering.