REDAN Seeks FG Partnership In Constructing Affordable Housing

By Chuks Ekpeneru

The Real Estate Developers Association of Nigeria (REDAN) has called on the federal government to support the Family Homes Funds to actualize its core objective in providing affordable housing for Civil Servants and Nigerians.

Chairman of REDAN, Dr Aliyu Wamakko made the call in a press conference in Abuja.

This is even as the association noted that it will be interfacing with NULGE, the Governors’ Forum, Development Finance Institutions in Housing, the FSS 2020 (CBN) with the aim of constructing at least 50 housing units in all the 774 local government and Development Centres nationwide to reduce housing deficit, increase housing stock.

He noted that there is a global attention on real estate as avenue for money laundering and terrorism financing.

Wamakko said the association is collaborating assiduously with the Special Control Unit on Money Laundering (SCUML) which is an agency of the federal government to ensure that our members comply with extant laws and guidelines.

According to him, ‘’In the light of the foregoing, we reiterate to our members to: register with SCUML, comply with the Know Your Customer (KYC), report transactions above the stipulated threshold to NFIU and copiously comply with SCUML operational guidelines to forestall our businesses being encumbered, also, that we should be agents of national compliance and development.

‘’To regulate and sanitize the practice of housing development to high standards and curb the ugly incidences of housing collapse, the association initiated the Endorsement of Estates and Products programme as one of the hallmarks of giving requisite value to the consuming public, the off-takers for patronizing/purchasing members’ estates. Thus, the public is guided that only members whose estate are endorsed by the Association has our mark of credence.’’

Accordingly, he called on developers to sign on to the programme, while the general public are cautioned to take this advice seriously.

”The association is collaborating with professional bodies in the built industry such as Nigeria Institute of Quantity Surveyors, Nigeria Institute of Builders, Nigeria Institute of Architecture, Nigeria Bar Association and Nigeria Institute of Town Planning,” he said.

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