The Economic and Financial Crimes Commission (EFCC) and the Real Estate Developers Association of Nigeria (REDAN) have agreed to sanitize the sector.
Anti-corruption chief Abdulrasheed Bawa, REDAN President, Aliyu Wammako and some officials met at the commission’s headquarters in Jabi, Abuja.
Bawa promised that the EFCC will support the body in ensuring that the proposed Real Estate Regulation and Development Bill is passed.
The chairman lamented the rate of corruption in the sector and urged citizens to join the fight.
“Real estate in Nigeria has turned into an avenue in which corrupt public and private sector practitioners are laundering their proceeds of crime with ease.
“It is the highest avenue in which proceeds of crime are laundered second only to the financial institutions, particularly the banking sector.”
Bawa appealed to Nigerians to watch out for and relay information regarding anybody they know who acquired lands and buildings fraudulently.
“We hope and pray that you (REDAN) strengthen yourself and ensure that the bad eggs are weeded out.
“There is no day that passes that the EFCC is not tracing one proceeds of crime or another into real estate”, he said.
In his remark, Wammako expressed readiness of the association to partner with the EFCC to clean up the business by regulating transactions.
The REDAN president said with the commission’s assistance, the bill to regulate the sector will be passed and signed into law.
