The bill also seeks to boost the business of real estate and housing in the country.
REDAN President, Dr. Aliyu Wamakko disclosed this in Abuja, at the REDAN 2021 Annual General Meeting, AGM.
According to Wamakko, “We have embarked on initiatives to sanitize Nigeria’s Real Estate Sector. Accordingly, we proposed a Bill tagged ‘The Real Estate (Regulations and Development) Bill’ to the 9th Senate of the National Assembly. It is heartwarming to inform this meeting that the 1st reading of the Bill took place on 27th November, 2020.
“At this juncture, we wish to solicit for the utmost cooperation of the Honourable Minister and other stakeholders present to support the Bill for its eventual signing into law.”
Wamakko also noted that the association has sustained its collaboration with the Special Control Unit Against Money Laundering (SCUML) and the Nigerian Financial Intelligence Unit (NFIU) which are agencies of the Federal Government to ensure that members comply with guidelines on money laundering and terrorism financing and other extant laws.
On mass housing plans, he said the association has initiated the Housing Development Plan tagged ‘Rural-urban Housing Initiative (RUHI-774), aimed at developing at least 100 housing units in each of the 774 Local Government Councils of the federation including the FCT.
Corroborating, REDAN on efforts to avert money laundering, managing director, Federal Mortgage Bank of Nigeria (FMBN), Ahmed Dangiwa, decried that the federal government remains resolute in ensuring that the sector complies with money laundering and other extant laws.
He suggested that the government should introduce an annual tax for all unoccupied houses in the country.
He also assured labour of partnership that will ensure mass housing schemes in the country.
