Nation
Senate Passes Real Estate Regulatory Bill To Check Fraud
The Senate on Wednesday passed a bill to establish the Real Estate Regulatory Council of Nigeria.
The Council when established would, amongst others, curb fraudulent practices to ensure that the real estate business confirms with the National Building Code in Nigeria.
The bill which scaled third reading during plenary is tagged: The Real Estate Regulatory Council of Nigeria (Establishment) Bill, 2021.
The bill sponsored by Aliyu Wamakko (APC, Kebbi) was read for the first time on April 28, 2021, and a scaled second reading on June 22, 2021.
The passage of the bill on Wednesday followed the consideration of a report by the Committee on Establishment and Public Service.
The report was laid during plenary by the Deputy Chief Whip, Aliyu Sabi Abdullahi.
The new council, which needs concurrence of the House of Representatives and a presidential assent to become law, is also expected to check rising caes of collapsed buildings, another symptom of poor quality structures.
Nicholas Tofowomo, who presented the Senate report on behalf of the Committee Chairman, Ibrahim Shekarau, said the establishment of the Real Estate Council of Nigeria would provide efficient, effective and transparent administration of the business of real estate development in Nigeria.
According to the lawmaker, the Council would be responsible for prescribing minimum standards for the conduct of the businesses of real estate development across the country.
He recalled that the bill seeking to establish the Real Estate Council of Nigeria was passed by both chambers of the eighth National Assembly, but was not assented to by President Muhammadu Buhari.
He said the President’s decision to withhold assent to the bill was as a result of certain observations raised by stakeholders at the time.
“Those observations have been taken care of in this report by the Committee following the engagement with stakeholders to ensure that real estate business in Nigeria confirms with the Money Laundering Act 2011 (as amended) and the Nigeria Financial Intelligence Unit Act 2018 in terms of Anti-Money Laundering and Counter Terrorism Financing due diligence compliance,” Mr Tofowomo said.
He explained that when established, the Council would standardize the business of real estate by regulating the conduct of transactions; and provide enabling environment and transparency in the business of real estate development in Nigeria.
The lawmaker stated that it would also curb fraudulent practices to ensure that the real estate business confirms with the National Building Code in Nigeria; as well as create an innovative and sustainable environment to promote Nigeria as a real estate investment destination in Africa and the world.
Meanwhile, two bill seeking to establish the Federal Orthopedic Hospital, Patigi, Kwara State; and Federal University of Agriculture, Akure, Ondo State, have passed second reading in the Senate.
The bills were sponsored by Senators Sadiq Suleiman Umar (Kwara North) and Patrick Ayo Akinyelure (Ondo Central).
The bills after scaling second reading were referred by the Deputy Senate President, Ovie Omo-Agege, who presided over plenary on Wednesday to the Committees on Health (Secondary and Tertiary); and Tertiary Institutions and TETFUND for further inputs.
Rivers state Deputy Governor Professor Ngozi Nma Odu has commended “The Port Harcourt City One Love,”a Port Harcourt based humanitarian orgnisation For it’s commitment towards alleviating the sufferings of the poor and vulnerable in the society.
Professor Ngozi Nma Odu said this while speaking at this year’s edition of “operation feed the needy” a yearly outreach program of “The Port Harcourt City One Love ” in Port Harcourt.
The Deputy Governor said by feeding more than sixty thousands hungry people within the past six years, the Port Harcourt City One Love Movement has distinguished itself as a club that cares for the less privilege in the society.
She commended the , organization for listing eleven thousand persons to be fed in the current exercise.
Meanwhile The Port Harcourt City One Love has planned a permanent solution to the problem of feeding the poor in the state.
The leader of the group Mr Idaere Gogo Ogan who said this in an interview with newsmen during the distribution of food items to the poor and vulnerables in Port Harcourt said the organization is planning a permanent food kitchen where poor and vulnerable persons can work in anytime and get fed.
Idaere Gogo Ogan said more than sixty thousands poor and vulnerable persons across Port Harcourt City and environs have been fed since the inception of “The operation feed the needy” program six years ago,adding that so far sixty thousands poor and vulnerable persons have beneffited.
He described the group as a platform to promote friendship, brotherhood, community development empathy and feeding the less privilege and hungry people
“That’s what we are doing today here,so we started the exercise six years ago”.he said.
Ogan said the effort was a private sector driven initiative but added “it also involves people in Government because the platform does not recognize any division,we bring everybody together in unity , friendship and brotherhood”he said.
He said the effort will go along way in alleviating hunger especially following the prevailing hunger in the country.
According to him “you know the country is very tough, people are hungry people are starving, there is a whole lot of economic hardship,so for us, this is just our own way of reaching out, our own social contribution to what is very difficult”he said.
Over eleven thousand persons were fed in the just concluded exercise.
Areas of coverage include, Isaac Boro park, Port Harcourt prison/Macoba, Borokiri/Enugu waterside Bundu areas Waterlines and others.
Some of the beneficiaries including an 80 years old widow commended the movement for the annual programm and urged other organizations to emulate them
John Bibor,/Esuuk Oyet/Suotor Memoye /Jeremiah Hannah
Nation
We’ll Partner Private Sector to Industrialize Rivers State – Fubara …Hints Revitalization of Ahoada, Trans Amadi Industrial layout
“Inclusive growth requires access to capital and the right conditions for businesses to deploy that capital effectively. Women-led enterprises are critical to economic activity, yet they face structural barriers.
“This intervention aims to help close that gap by providing financing that supports job creation, business expansion, and long-term sustainability for women entrepreneurs”, Edun said.
Group Head, SheVentures and Impact Segments at First City Monument Bank (FCMB), Nnenna Jacob-Ogogo said access to affordable finance remains a major constraint for women entrepreneurs.
-
Featured5 days agoWASSCE: RSG Distributes Science Materials To Secondary Schools
-
News5 days ago
Xenophobic Attacks: Nigerian Lives More Important Than Foreign Investment – Oshiomhole
-
Rivers5 days ago
MBA Forex Trial Adjourn To June 3, Amid Bereavement … As Court Declines Cost Application
-
News5 days ago
ActionAid Demands Probe Of Govs Using Public Funds For Campaign
-
Aviation5 days ago
Passengers Stranded As Delta Airline From Atlanta Route Back Eight Hours After
-
Business5 days ago
Customs Impound N2.35bn Cocaine, 15 Trailers of Rice
-
Politics5 days ago
2027: Bayelsa Senator Gets Critical Endorsement For Second Term
-
Politics5 days agoINEC Sets Rivers South-East Senatorial By-Election For June 20