ESVARBON Urges Inductees to Deploy Expertise for National Devt
The Estate Surveyors and Valuers Registration Board of Nigeria (ESVARBON) has called on newly registered professionals to harness their expertise for the advancement of the nation. Speaking at the 47th induction ceremony in Abuja, ESVARBON Chairman, Mr. Gersh Henshaw, emphasized the importance of deploying knowledge, skills, and competence while adhering to professional ethics and standards.
Addressing the inductees, Henshaw cautioned that the seal granted to them as registered surveyors and valuers remains the property of the board, with the possibility of withdrawal if any member is found in violation by the Estate Surveyors and Valuers Disciplinary Tribunal.
A total of 533 individuals were deemed fit and proper to be enrolled in the surveyors and valuers registrar. Henshaw emphasized that names could be removed from the register in cases of misconduct, following directives from the Disciplinary Tribunal.
Professor Victor Akujuru, the special guest at the ceremony, urged the newly registered professionals to be exemplary ambassadors in their interactions with clients, especially in Nigeria’s current economic challenges. He stressed the need for discipline, adherence to ethical standards, and the demonstration of specialized knowledge and skills in their widely recognized profession.
Amayaevbo Johnbull, the President of the Nigerian Institution of Estate Surveyors and Valuers (NIESV), encouraged the inductees to actively engage in the institution’s activities to enhance their relevance. Johnbull’s message emphasized the importance of progress, good health, and participation in both branch and national activities.
In other news…
In a bid to overcome liquidity risks and secure long-term funding for affordable housing, the Nigerian government and the Mortgage Banking Association (MBAN) are exploring innovative avenues, prioritizing capital market financing. Housing and Urban Development Minister Ahmed Dangiwa, MBAN President Ebilate Mac-Yoroki, and NGX CEO Temi Popoola recently convened in Abuja to deliberate on strategies addressing the dearth of mortgage loan facilities.
With Nigeria’s mortgage sector contributing a mere 0.38% to the GDP, compared to countries like South Africa and Malaysia at 40%, the leaders aim to substantially increase the contribution of the mortgage banking and housing finance sector to the nation’s economy. Discussions revolved around potential solutions such as securitized crowdfunding on the NGX platform to fund viable housing projects and exploring convertible bonds and insurance agencies to cater to the demand side.
Minister Dangiwa emphasized the need for effective frameworks, involving all stakeholders, to deploy and promote these innovations. The groundwork for these discussions was laid at the 20th edition of the MBAN-organized CEOs retreat, focusing on advancing sustainable and affordable housing finance in Nigeria.
At the retreat, Minister Dangiwa urged CEOs to develop creative mortgage products, considering the economic challenges in Nigeria. He emphasized the importance of viewing affordable mortgages as a moral imperative, ensuring accessibility for low- and medium-income segments.
MBAN President Mac-Yoroki called for the establishment of special courts in all states to handle mortgage and housing-related matters and urged amendments to laws affecting housing and housing finance. He stressed the need for a central housing database and appropriate legislation recognizing electronic print-outs of title documents for efficient trading of mortgages.
Mac-Yoroki advocated for the enactment of the Model Mortgage and Foreclosure Law, urging state governments to address foreclosure issues and establish mortgage and foreclosure authorities. Additionally, he proposed the creation of a housing commission or committee comprising key stakeholders to meet quarterly and review housing matters.
The mortgage operators also called for an appropriate law recognizing electronic print-outs of title documents as prima facie evidence for house ownership through the Central Security Clearing System (CSCS) to facilitate electronic trading of mortgages. Mac-Yoroki highlighted the importance of addressing issues that render certificates of occupancy and deed of assignment ineffective for electronic trading, emphasizing the urgency for reforms in the sector.