EFCC vows to check fraudulent activities in housing sector today.ng - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from today.ng Daily Mail and Mail on Sunday newspapers.
By Adedayo Akinwale
The Economic and Financial Crimes Commission (EFCC) has made compulsory membership of the Real Estate Developers Association (REDAN) for all real estate players as part of effort to check fraudulent activities in the housing sector.
The Director of Special Control Unit against Money Laundering (SCUML), a unit operationally domiciled in EFCC, Mr. Brown Isei, stated this Friday in Abuja at the unveiling of REDAN seals to distinguish its members from fraudsters.
Isei, who was represented by Mr. Enu Mathew said the new requirements would allow easy prosecution, conviction and confiscation of ill-gotten wealth and fraudsters in the country.
Real Estate Developers Association of Nigeria (REDAN)
By
Thu Apr 15 2021
The Real Estate Developers Association of Nigeria (REDAN) has launched an official seal as part of measures to weed out land racketeers from its ranks.
President of REDAN Dr. Aliyu Wamakko, who made this known at the launch of the seal and the association’s magazine, on Tuesday, said the seal would give more credibility to the businesses of its members and recognition to the association’s documentation processes.
“The introduction of the REDANseal is also to serve as a mark of credence and to distinguish accredited real estate developers from others who are mostly land racketeers, posing to be developers and members of REDAN.
EFCC moves to check fraud in real estate sector | Premium Times Nigeria premiumtimesng.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from premiumtimesng.com Daily Mail and Mail on Sunday newspapers.
Let’s give extensive details on each of these points above.
1. The Company’s Registration: Before investing with any real estate company, you should undergo thorough research on the organization and make sure it’s registered with Nigeria Corporate Affairs Commission (CAC). This can simply be done by requesting the company’s registration number.
All good real estate company without shady deals have their registration number and won’t hesitate to give their clients/customers it. Most even have the copy of the CAC paste right in the entrance hallway of the company or in their reception room. However, if they fail to provide you with one, then you should think twice before buying a property from the company.