The Institute of Mortgage Brokers and Lenders of Nigeria said it has intensified efforts to clamp down on fraudsters in the real estate industry.
In a press statement, its Chief Executive Officer (CEO), Hon. Adeleye Jasper, said the institute has insisted there must be professionalism in the industry.
Adeleye said the field will henceforth exclusively be for certified estate agents.
“First of all, we have to eliminate fraudsters from the industry. We are trying to put professionalism in this institution. We are trying to see that those who are fit to practice actually come into the field.”
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The Institute of Mortgage Brokers and Lenders was established following a bill passed by the National Assembly and assented to by President Muhammadu Buhari in December last year.
He said the institute, which is now empowered by law to regulate the industry, will weed out the quacks, who are now in the real estate business.
The law, he said, has also mandated the institute to regulate the agents in the mortgage industry.
The CEO added that the institute has also planned to train its agents.
“You find a lot of people practising real estate agents without training. With this, we will train them. We will ensure there is professionalism in it and we will have to keep them so that we can actually move this country forward.
Adeleye was hopeful of a booming profession. “In the next few years, we will see this profession booming in this country. We will be able to see the output which is going to be great for us in this country,” he said.