Housing Group Demands Probe Of Faulty Sector Regulation Bill

The Housing Development Advocacy Network (HDAN), a leading civil society organisation in Nigeria’s housing industry, has demanded a criminal investigation into the passage of a controversial real estate regulation bill.

HDAN alleged that President Bola Tinubu  was misinformed and misled into signing the bill, which had failed to pass through proper legislative review in the National Assembly.

According to HDAN’s executive director Festus Adebayo, the organisation was shocked to learn through a media report that the bill was rushed through to presidential assent without vetting by the House of Representatives and Senate.

He said “ for us at HDAN, we have  been monitoring the movement of the bill before it suddenly disappeared which prevented us from knowing how far the bill has gone.

“The last information we heard concerning such a related bill was the passage of the real estate regulation bill for FCT.

“We wondered how many interest groups are pushing for different bills that will serve their selfish interest rather than the overall interest of the sector under the real estate regulation bill”.

“At various times, we have called for the regulation of the real estate sector for the purpose of protecting the integrity of the sector, promoting professionalism in the sector and protecting both the buyers of real estate products, investors and developers.

“From all indications, this bill they are trying to manipulate the president to sign will definitely not achieve the desired objectives we have just stated for the overall interest of the sector.

“HDAN  is therefore calling for criminal investigation of those behind the bill that was wrongly pushed for Mr President assent.

“We are also calling the minister of Housing and Urban Development to intervene by setting up a committee that will have representatives of all professional bodies and Civil society to review the available bills for all inclusive bill that achieve the goal of professionals using the real estate business with clear rules of operations.

According to HDAN, the way out is to repackage the bill for the interest of all stakeholders and professions in the sector.

“We are using this opportunity to call on the Nigerian Minister of Housing and Urban Development to urgently set up a committee that will look into the failed bill and address all salient areas for the overall interest of the sector.