Estate surveyors’ board sets up regulatory, enforcement units
The Estate Surveyors and Valuers Registration Board of Nigeria (ESVARBON) has established a regulatory compliance and enforcement unit. Speaking at a press conference in Lagos, board Chairman, Mr. Nweke Umezurrike, said the unit would be saddled with the responsibility of ensuring that practitioners complied with the standards and regulations of the board. “The unit will […]
Estate Surveyors and Valuers Registration Board of Nigeria (ESVARBON)
The Estate Surveyors and Valuers Registration Board of Nigeria (ESVARBON) has established a regulatory compliance and enforcement unit.
Speaking at a press conference in Lagos, board Chairman, Mr. Nweke Umezurrike, said the unit would be saddled with the responsibility of ensuring that practitioners complied with the standards and regulations of the board.
“The unit will also, at the instance or direction of the board, work with practitioners to ensure enforcement of standards, rules and regulations in the practice as enunciated in the code of professional conduct of registered estate surveyors and valuers,” he said.
To improve the practice of the board, Nweke added that the board would introduce an improved version of the adhesive stamp in a bid to check quackery.
The chairman explained that the new adhesive stamp which would begin operation January 1, 2019, had been designed to have the name and registration number of the user, adding that it had security features to prevent cloning.
However, he stressed that the existing adhesive stamp would continue to be used along with the new adhesive stamp until the end of June, 2019.
“The documents that must now carry the new adhesive stamps are valuation and appraisal report for both individuals and the private sector, letters of offer, arbitration, mediation and independent experts’ awards, property management, agreement and report, auction agreement and notices, agency (sales and letting) agreement and compensation indemnity certificates,” he said.