REDAN, agencies collaborate to curb money laundering, terrorism financing
The Real Estate Development Association of Nigeria, (REDAN) has initiated collaboration with two anti-corruption agencies of the Federal Government to check money laundering and financing of terrorism.
The President and chairman of council, REDAN, Aliyu Wamakko, stated this in his welcome address during the opening ceremony of the 12th annual general meeting of REDAN in Abuja and announced that the agencies involved in the collaboration were the Special Control Unit Against Money Laundering and the Nigerian Financial Intelligence Unit.
Wamakko also appealed to the National Assembly to accelerate the passage of the proposed ‘Real Estate (Regulations and Development) Bill 2020’ into law.
The REDAN president said that the Bill aimed to protect the rights of home seekers, home buyers, developers, other professionals involved in housing development, to promote transparency in the housing sector as well as boost investments in real estate and housing.
Wamakko said “Aware that there is a global attention on real estate as avenue for money laundering and terrorism financing, the association (REDAN) is collaborating with the Special Control Unit Against Money Laundering and the Nigerian Financial Intelligence Unit, which are agencies of the Federal Government to ensure that our members comply with extant laws and guidelines on money laundering and terrorism financing and other extant laws relating to financial matters.
“It is now mandatory for entrepreneurs in the business of real estate to be registered with REDAN – the self-regulatory organisation of REDAN before SCUML will issue them certificates. At this juncture, I call on all our members to adhere strictly with SCUML and NFIU guidelines.”
Wamakko disclosed that REDAN had 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 country and the Federal Capital Territory.
On his part, the Managing Director, Federal Mortgage Bank of Nigeria, Ahmed Dangiwa, said that the government had remained resolute in ensuring that the housing sector complied with money laundering and other extant laws.
Dangiwa, while suggesting that the government should introduce an annual tax for all unoccupied houses in the country, assured that labour of partnership would ensure mass housing schemes in the country.