US Promises to support all Tech based initiative in Nigeria

The US government says it will work with initiatives that are geared towards training youths to gain skills in the technology space.

The public affairs officer of the US consulate in Lagos, Joe Kruzich, made this known at the premiere of the documentary, Finding tech in Lagos.

It is said that Technology is the new oil.

This is owing to the fact that many youths have used the tech space to create employment opportunities for themselves, thereby closing the unemployment gap in the country.

Nigeria has a growing tech industry that is already making waves on the global stage.

This has caught the attention of the United States government as seen in the premiere of this documentary, Finding Tech.

The documentary highlights the life of young Nigerians before their voyage into the Tech industry and how this sector has helped them become better individuals.

To ensure that Nigeria continues in the Tech industry, there is a need to invest in science and technology education at all levels.

This investment will help to equip the youth with the skills they need to develop cutting-edge technologies that can solve the country’s challenges.

Real Estate Developers will always partner Govt. to stop illicit Funds

The Real Estate Developers Association of Nigeria has in partnership with the Economic and Financial Crimes Commission put in place measures to prevent the use of the Real Estate Sector as a Money Laundering tool for those with illicit funds.

Chairman of the Association in Lagos State, Bamdiele Onalaja, disclosed this while speaking on TVC News Breakfast Show on Monday Morning.

Mr Onalaja was speaking on the recent Statement from the EFCC on the need to prevent Money Laundering in the Real Estate Sector said the Association is in partnership with the Anti graft agency to ensure that people with suspect source of funds are prevented from laundering it through the Real Estate Sector.

He added that the Real Estate Developers in Nigeria have partnered with the EFCC who is a strong partner with REDAN with the agency having access to the accounts of all developers in Nigeria through the BVN without recourse to the Courts.

He said the Association is also registered with SCUML an arm of the Economic and Financial Crimes Commission to ensure that transactions over the sum of 5 Million Naira are reported to it for investigation so as to ensure the sources of such funds are not suspicious nor from illicit sources.

He added that banks in the country are under the directives of the EFCC not to register an account for Real Estate Business without recourse to the possession of the Certificate of membership and registration of the Real Estate Developers Association of Nigeria to prevent Money Laundering.

He disclosed that the Association will continue to partner with Government and all its agencies to ensure that the Sector does not become a cesspool of laundered and illicit funds.

Some of the measures the Real Estate Developers will ensure is implemented is the reporting of all transactions over a certain threshold through the banks to the agencies of government in charge of ensuring the sector remains clean and devoid of illicit funding.

According to Mr Onalaja, REDAN has existed for more than 20 years founded by the former Executive Governor of Lagos, Alhaji Lateef Jakande, and will do all it can to ensure it maintains discipline among its members.

He said the National Assembly is in the process of putting in place regulation for the practice of estate development in Nigeria.

Members of REDAN according to Mr Onalaja will be put in check but he said the Association which is voluntary cannot vouch for non- members of the Association who he said are responsible for over 60% of the Real Estate Development in Lagos.

He commended the Lagos State Government for what it has done so far in putting the sector in proper shape, he however asked for more to be done to ensure that Real Estate Developers not with REDAN are brought under its umbrella for proper monitoring.

He said the government is the only authority that can compel and monitor real estate sector to prevent abuses and sharp practices.

On why he is insistent on the government compelling Estate Developers to join REDAN, he said it is to ensure that in case of a collapsed building or anything like that the association is able to address the issue headlong.

 

 

 

 

 

 

The US government says it will work with initiatives that are geared towards training youths to gain skills in the technology space.

The public affairs officer of the US consulate in Lagos, Joe Kruzich, made this known at the premiere of the documentary, Finding tech in Lagos.

It is said that Technology is the new oil.

This is owing to the fact that many youths have used the tech space to create employment opportunities for themselves, thereby closing the unemployment gap in the country.

Nigeria has a growing tech industry that is already making waves on the global stage.

This has caught the attention of the United States government as seen in the premiere of this documentary, Finding Tech.

The documentary highlights the life of young Nigerians before their voyage into the Tech industry and how this sector has helped them become better individuals.

To ensure that Nigeria continues in the Tech industry, there is a need to invest in science and technology education at all levels.

This investment will help to equip the youth with the skills they need to develop cutting-edge technologies that can solve the country’s challenges.

Real Estate Developers will always partner Govt. to stop illicit Funds

The Real Estate Developers Association of Nigeria has in partnership with the Economic and Financial Crimes Commission put in place measures to prevent the use of the Real Estate Sector as a Money Laundering tool for those with illicit funds.

Chairman of the Association in Lagos State, Bamdiele Onalaja, disclosed this while speaking on TVC News Breakfast Show on Monday Morning.

Mr Onalaja was speaking on the recent Statement from the EFCC on the need to prevent Money Laundering in the Real Estate Sector said the Association is in partnership with the Anti graft agency to ensure that people with suspect source of funds are prevented from laundering it through the Real Estate Sector.

He added that the Real Estate Developers in Nigeria have partnered with the EFCC who is a strong partner with REDAN with the agency having access to the accounts of all developers in Nigeria through the BVN without recourse to the Courts.

He said the Association is also registered with SCUML an arm of the Economic and Financial Crimes Commission to ensure that transactions over the sum of 5 Million Naira are reported to it for investigation so as to ensure the sources of such funds are not suspicious nor from illicit sources.

He added that banks in the country are under the directives of the EFCC not to register an account for Real Estate Business without recourse to the possession of the Certificate of membership and registration of the Real Estate Developers Association of Nigeria to prevent Money Laundering.

He disclosed that the Association will continue to partner with Government and all its agencies to ensure that the Sector does not become a cesspool of laundered and illicit funds.

Some of the measures the Real Estate Developers will ensure is implemented is the reporting of all transactions over a certain threshold through the banks to the agencies of government in charge of ensuring the sector remains clean and devoid of illicit funding.

According to Mr Onalaja, REDAN has existed for more than 20 years founded by the former Executive Governor of Lagos, Alhaji Lateef Jakande, and will do all it can to ensure it maintains discipline among its members.

He said the National Assembly is in the process of putting in place regulation for the practice of estate development in Nigeria.

Members of REDAN according to Mr Onalaja will be put in check but he said the Association which is voluntary cannot vouch for non- members of the Association who he said are responsible for over 60% of the Real Estate Development in Lagos.

He commended the Lagos State Government for what it has done so far in putting the sector in proper shape, he however asked for more to be done to ensure that Real Estate Developers not with REDAN are brought under its umbrella for proper monitoring.

He said the government is the only authority that can compel and monitor real estate sector to prevent abuses and sharp practices.

On why he is insistent on the government compelling Estate Developers to join REDAN, he said it is to ensure that in case of a collapsed building or anything like that the association is able to address the issue headlong.

 

 

 

 

 

 

The US government says it will work with initiatives that are geared towards training youths to gain skills in the technology space.

The public affairs officer of the US consulate in Lagos, Joe Kruzich, made this known at the premiere of the documentary, Finding tech in Lagos.

It is said that Technology is the new oil.

This is owing to the fact that many youths have used the tech space to create employment opportunities for themselves, thereby closing the unemployment gap in the country.

Nigeria has a growing tech industry that is already making waves on the global stage.

This has caught the attention of the United States government as seen in the premiere of this documentary, Finding Tech.

The documentary highlights the life of young Nigerians before their voyage into the Tech industry and how this sector has helped them become better individuals.

To ensure that Nigeria continues in the Tech industry, there is a need to invest in science and technology education at all levels.

This investment will help to equip the youth with the skills they need to develop cutting-edge technologies that can solve the country’s challenges.

Real Estate Developers will always partner Govt. to stop illicit Funds

The Real Estate Developers Association of Nigeria has in partnership with the Economic and Financial Crimes Commission put in place measures to prevent the use of the Real Estate Sector as a Money Laundering tool for those with illicit funds.

Chairman of the Association in Lagos State, Bamdiele Onalaja, disclosed this while speaking on TVC News Breakfast Show on Monday Morning.

Mr Onalaja was speaking on the recent Statement from the EFCC on the need to prevent Money Laundering in the Real Estate Sector said the Association is in partnership with the Anti graft agency to ensure that people with suspect source of funds are prevented from laundering it through the Real Estate Sector.

He added that the Real Estate Developers in Nigeria have partnered with the EFCC who is a strong partner with REDAN with the agency having access to the accounts of all developers in Nigeria through the BVN without recourse to the Courts.

He said the Association is also registered with SCUML an arm of the Economic and Financial Crimes Commission to ensure that transactions over the sum of 5 Million Naira are reported to it for investigation so as to ensure the sources of such funds are not suspicious nor from illicit sources.

He added that banks in the country are under the directives of the EFCC not to register an account for Real Estate Business without recourse to the possession of the Certificate of membership and registration of the Real Estate Developers Association of Nigeria to prevent Money Laundering.

He disclosed that the Association will continue to partner with Government and all its agencies to ensure that the Sector does not become a cesspool of laundered and illicit funds.

Some of the measures the Real Estate Developers will ensure is implemented is the reporting of all transactions over a certain threshold through the banks to the agencies of government in charge of ensuring the sector remains clean and devoid of illicit funding.

According to Mr Onalaja, REDAN has existed for more than 20 years founded by the former Executive Governor of Lagos, Alhaji Lateef Jakande, and will do all it can to ensure it maintains discipline among its members.

He said the National Assembly is in the process of putting in place regulation for the practice of estate development in Nigeria.

Members of REDAN according to Mr Onalaja will be put in check but he said the Association which is voluntary cannot vouch for non- members of the Association who he said are responsible for over 60% of the Real Estate Development in Lagos.

He commended the Lagos State Government for what it has done so far in putting the sector in proper shape, he however asked for more to be done to ensure that Real Estate Developers not with REDAN are brought under its umbrella for proper monitoring.

He said the government is the only authority that can compel and monitor real estate sector to prevent abuses and sharp practices.

On why he is insistent on the government compelling Estate Developers to join REDAN, he said it is to ensure that in case of a collapsed building or anything like that the association is able to address the issue headlong.

 

 

 

 

 

 

The US government says it will work with initiatives that are geared towards training youths to gain skills in the technology space.

The public affairs officer of the US consulate in Lagos, Joe Kruzich, made this known at the premiere of the documentary, Finding tech in Lagos.

It is said that Technology is the new oil.

This is owing to the fact that many youths have used the tech space to create employment opportunities for themselves, thereby closing the unemployment gap in the country.

Nigeria has a growing tech industry that is already making waves on the global stage.

This has caught the attention of the United States government as seen in the premiere of this documentary, Finding Tech.

The documentary highlights the life of young Nigerians before their voyage into the Tech industry and how this sector has helped them become better individuals.

To ensure that Nigeria continues in the Tech industry, there is a need to invest in science and technology education at all levels.

This investment will help to equip the youth with the skills they need to develop cutting-edge technologies that can solve the country’s challenges.

Real Estate Developers will always partner Govt. to stop illicit Funds

The Real Estate Developers Association of Nigeria has in partnership with the Economic and Financial Crimes Commission put in place measures to prevent the use of the Real Estate Sector as a Money Laundering tool for those with illicit funds.

Chairman of the Association in Lagos State, Bamdiele Onalaja, disclosed this while speaking on TVC News Breakfast Show on Monday Morning.

Mr Onalaja was speaking on the recent Statement from the EFCC on the need to prevent Money Laundering in the Real Estate Sector said the Association is in partnership with the Anti graft agency to ensure that people with suspect source of funds are prevented from laundering it through the Real Estate Sector.

He added that the Real Estate Developers in Nigeria have partnered with the EFCC who is a strong partner with REDAN with the agency having access to the accounts of all developers in Nigeria through the BVN without recourse to the Courts.

He said the Association is also registered with SCUML an arm of the Economic and Financial Crimes Commission to ensure that transactions over the sum of 5 Million Naira are reported to it for investigation so as to ensure the sources of such funds are not suspicious nor from illicit sources.

He added that banks in the country are under the directives of the EFCC not to register an account for Real Estate Business without recourse to the possession of the Certificate of membership and registration of the Real Estate Developers Association of Nigeria to prevent Money Laundering.

He disclosed that the Association will continue to partner with Government and all its agencies to ensure that the Sector does not become a cesspool of laundered and illicit funds.

Some of the measures the Real Estate Developers will ensure is implemented is the reporting of all transactions over a certain threshold through the banks to the agencies of government in charge of ensuring the sector remains clean and devoid of illicit funding.

According to Mr Onalaja, REDAN has existed for more than 20 years founded by the former Executive Governor of Lagos, Alhaji Lateef Jakande, and will do all it can to ensure it maintains discipline among its members.

He said the National Assembly is in the process of putting in place regulation for the practice of estate development in Nigeria.

Members of REDAN according to Mr Onalaja will be put in check but he said the Association which is voluntary cannot vouch for non- members of the Association who he said are responsible for over 60% of the Real Estate Development in Lagos.

He commended the Lagos State Government for what it has done so far in putting the sector in proper shape, he however asked for more to be done to ensure that Real Estate Developers not with REDAN are brought under its umbrella for proper monitoring.

He said the government is the only authority that can compel and monitor real estate sector to prevent abuses and sharp practices.

On why he is insistent on the government compelling Estate Developers to join REDAN, he said it is to ensure that in case of a collapsed building or anything like that the association is able to address the issue headlong.

 

 

 

 

 

 

The US government says it will work with initiatives that are geared towards training youths to gain skills in the technology space.

The public affairs officer of the US consulate in Lagos, Joe Kruzich, made this known at the premiere of the documentary, Finding tech in Lagos.

It is said that Technology is the new oil.

This is owing to the fact that many youths have used the tech space to create employment opportunities for themselves, thereby closing the unemployment gap in the country.

Nigeria has a growing tech industry that is already making waves on the global stage.

This has caught the attention of the United States government as seen in the premiere of this documentary, Finding Tech.

The documentary highlights the life of young Nigerians before their voyage into the Tech industry and how this sector has helped them become better individuals.

To ensure that Nigeria continues in the Tech industry, there is a need to invest in science and technology education at all levels.

This investment will help to equip the youth with the skills they need to develop cutting-edge technologies that can solve the country’s challenges.

Real Estate Developers will always partner Govt. to stop illicit Funds

The Real Estate Developers Association of Nigeria has in partnership with the Economic and Financial Crimes Commission put in place measures to prevent the use of the Real Estate Sector as a Money Laundering tool for those with illicit funds.

Chairman of the Association in Lagos State, Bamdiele Onalaja, disclosed this while speaking on TVC News Breakfast Show on Monday Morning.

Mr Onalaja was speaking on the recent Statement from the EFCC on the need to prevent Money Laundering in the Real Estate Sector said the Association is in partnership with the Anti graft agency to ensure that people with suspect source of funds are prevented from laundering it through the Real Estate Sector.

He added that the Real Estate Developers in Nigeria have partnered with the EFCC who is a strong partner with REDAN with the agency having access to the accounts of all developers in Nigeria through the BVN without recourse to the Courts.

He said the Association is also registered with SCUML an arm of the Economic and Financial Crimes Commission to ensure that transactions over the sum of 5 Million Naira are reported to it for investigation so as to ensure the sources of such funds are not suspicious nor from illicit sources.

He added that banks in the country are under the directives of the EFCC not to register an account for Real Estate Business without recourse to the possession of the Certificate of membership and registration of the Real Estate Developers Association of Nigeria to prevent Money Laundering.

He disclosed that the Association will continue to partner with Government and all its agencies to ensure that the Sector does not become a cesspool of laundered and illicit funds.

Some of the measures the Real Estate Developers will ensure is implemented is the reporting of all transactions over a certain threshold through the banks to the agencies of government in charge of ensuring the sector remains clean and devoid of illicit funding.

According to Mr Onalaja, REDAN has existed for more than 20 years founded by the former Executive Governor of Lagos, Alhaji Lateef Jakande, and will do all it can to ensure it maintains discipline among its members.

He said the National Assembly is in the process of putting in place regulation for the practice of estate development in Nigeria.

Members of REDAN according to Mr Onalaja will be put in check but he said the Association which is voluntary cannot vouch for non- members of the Association who he said are responsible for over 60% of the Real Estate Development in Lagos.

He commended the Lagos State Government for what it has done so far in putting the sector in proper shape, he however asked for more to be done to ensure that Real Estate Developers not with REDAN are brought under its umbrella for proper monitoring.

He said the government is the only authority that can compel and monitor real estate sector to prevent abuses and sharp practices.

On why he is insistent on the government compelling Estate Developers to join REDAN, he said it is to ensure that in case of a collapsed building or anything like that the association is able to address the issue headlong.

 

 

 

 

 

 

The US government says it will work with initiatives that are geared towards training youths to gain skills in the technology space.

The public affairs officer of the US consulate in Lagos, Joe Kruzich, made this known at the premiere of the documentary, Finding tech in Lagos.

It is said that Technology is the new oil.

This is owing to the fact that many youths have used the tech space to create employment opportunities for themselves, thereby closing the unemployment gap in the country.

Nigeria has a growing tech industry that is already making waves on the global stage.

This has caught the attention of the United States government as seen in the premiere of this documentary, Finding Tech.

The documentary highlights the life of young Nigerians before their voyage into the Tech industry and how this sector has helped them become better individuals.

To ensure that Nigeria continues in the Tech industry, there is a need to invest in science and technology education at all levels.

This investment will help to equip the youth with the skills they need to develop cutting-edge technologies that can solve the country’s challenges.

Real Estate Developers will always partner Govt. to stop illicit Funds

The Real Estate Developers Association of Nigeria has in partnership with the Economic and Financial Crimes Commission put in place measures to prevent the use of the Real Estate Sector as a Money Laundering tool for those with illicit funds.

Chairman of the Association in Lagos State, Bamdiele Onalaja, disclosed this while speaking on TVC News Breakfast Show on Monday Morning.

Mr Onalaja was speaking on the recent Statement from the EFCC on the need to prevent Money Laundering in the Real Estate Sector said the Association is in partnership with the Anti graft agency to ensure that people with suspect source of funds are prevented from laundering it through the Real Estate Sector.

He added that the Real Estate Developers in Nigeria have partnered with the EFCC who is a strong partner with REDAN with the agency having access to the accounts of all developers in Nigeria through the BVN without recourse to the Courts.

He said the Association is also registered with SCUML an arm of the Economic and Financial Crimes Commission to ensure that transactions over the sum of 5 Million Naira are reported to it for investigation so as to ensure the sources of such funds are not suspicious nor from illicit sources.

He added that banks in the country are under the directives of the EFCC not to register an account for Real Estate Business without recourse to the possession of the Certificate of membership and registration of the Real Estate Developers Association of Nigeria to prevent Money Laundering.

He disclosed that the Association will continue to partner with Government and all its agencies to ensure that the Sector does not become a cesspool of laundered and illicit funds.

Some of the measures the Real Estate Developers will ensure is implemented is the reporting of all transactions over a certain threshold through the banks to the agencies of government in charge of ensuring the sector remains clean and devoid of illicit funding.

According to Mr Onalaja, REDAN has existed for more than 20 years founded by the former Executive Governor of Lagos, Alhaji Lateef Jakande, and will do all it can to ensure it maintains discipline among its members.

He said the National Assembly is in the process of putting in place regulation for the practice of estate development in Nigeria.

Members of REDAN according to Mr Onalaja will be put in check but he said the Association which is voluntary cannot vouch for non- members of the Association who he said are responsible for over 60% of the Real Estate Development in Lagos.

He commended the Lagos State Government for what it has done so far in putting the sector in proper shape, he however asked for more to be done to ensure that Real Estate Developers not with REDAN are brought under its umbrella for proper monitoring.

He said the government is the only authority that can compel and monitor real estate sector to prevent abuses and sharp practices.

On why he is insistent on the government compelling Estate Developers to join REDAN, he said it is to ensure that in case of a collapsed building or anything like that the association is able to address the issue headlong.

 

 

 

 

 

 

The US government says it will work with initiatives that are geared towards training youths to gain skills in the technology space.

The public affairs officer of the US consulate in Lagos, Joe Kruzich, made this known at the premiere of the documentary, Finding tech in Lagos.

It is said that Technology is the new oil.

This is owing to the fact that many youths have used the tech space to create employment opportunities for themselves, thereby closing the unemployment gap in the country.

Nigeria has a growing tech industry that is already making waves on the global stage.

This has caught the attention of the United States government as seen in the premiere of this documentary, Finding Tech.

The documentary highlights the life of young Nigerians before their voyage into the Tech industry and how this sector has helped them become better individuals.

To ensure that Nigeria continues in the Tech industry, there is a need to invest in science and technology education at all levels.

This investment will help to equip the youth with the skills they need to develop cutting-edge technologies that can solve the country’s challenges.

Real Estate Developers will always partner Govt. to stop illicit Funds

The Real Estate Developers Association of Nigeria has in partnership with the Economic and Financial Crimes Commission put in place measures to prevent the use of the Real Estate Sector as a Money Laundering tool for those with illicit funds.

Chairman of the Association in Lagos State, Bamdiele Onalaja, disclosed this while speaking on TVC News Breakfast Show on Monday Morning.

Mr Onalaja was speaking on the recent Statement from the EFCC on the need to prevent Money Laundering in the Real Estate Sector said the Association is in partnership with the Anti graft agency to ensure that people with suspect source of funds are prevented from laundering it through the Real Estate Sector.

He added that the Real Estate Developers in Nigeria have partnered with the EFCC who is a strong partner with REDAN with the agency having access to the accounts of all developers in Nigeria through the BVN without recourse to the Courts.

He said the Association is also registered with SCUML an arm of the Economic and Financial Crimes Commission to ensure that transactions over the sum of 5 Million Naira are reported to it for investigation so as to ensure the sources of such funds are not suspicious nor from illicit sources.

He added that banks in the country are under the directives of the EFCC not to register an account for Real Estate Business without recourse to the possession of the Certificate of membership and registration of the Real Estate Developers Association of Nigeria to prevent Money Laundering.

He disclosed that the Association will continue to partner with Government and all its agencies to ensure that the Sector does not become a cesspool of laundered and illicit funds.

Some of the measures the Real Estate Developers will ensure is implemented is the reporting of all transactions over a certain threshold through the banks to the agencies of government in charge of ensuring the sector remains clean and devoid of illicit funding.

According to Mr Onalaja, REDAN has existed for more than 20 years founded by the former Executive Governor of Lagos, Alhaji Lateef Jakande, and will do all it can to ensure it maintains discipline among its members.

He said the National Assembly is in the process of putting in place regulation for the practice of estate development in Nigeria.

Members of REDAN according to Mr Onalaja will be put in check but he said the Association which is voluntary cannot vouch for non- members of the Association who he said are responsible for over 60% of the Real Estate Development in Lagos.

He commended the Lagos State Government for what it has done so far in putting the sector in proper shape, he however asked for more to be done to ensure that Real Estate Developers not with REDAN are brought under its umbrella for proper monitoring.

He said the government is the only authority that can compel and monitor real estate sector to prevent abuses and sharp practices.

On why he is insistent on the government compelling Estate Developers to join REDAN, he said it is to ensure that in case of a collapsed building or anything like that the association is able to address the issue headlong.

 

 

 

 

 

 

The US government says it will work with initiatives that are geared towards training youths to gain skills in the technology space.

The public affairs officer of the US consulate in Lagos, Joe Kruzich, made this known at the premiere of the documentary, Finding tech in Lagos.

It is said that Technology is the new oil.

This is owing to the fact that many youths have used the tech space to create employment opportunities for themselves, thereby closing the unemployment gap in the country.

Nigeria has a growing tech industry that is already making waves on the global stage.

This has caught the attention of the United States government as seen in the premiere of this documentary, Finding Tech.

The documentary highlights the life of young Nigerians before their voyage into the Tech industry and how this sector has helped them become better individuals.

To ensure that Nigeria continues in the Tech industry, there is a need to invest in science and technology education at all levels.

This investment will help to equip the youth with the skills they need to develop cutting-edge technologies that can solve the country’s challenges.

Real Estate Developers will always partner Govt. to stop illicit Funds

The Real Estate Developers Association of Nigeria has in partnership with the Economic and Financial Crimes Commission put in place measures to prevent the use of the Real Estate Sector as a Money Laundering tool for those with illicit funds.

Chairman of the Association in Lagos State, Bamdiele Onalaja, disclosed this while speaking on TVC News Breakfast Show on Monday Morning.

Mr Onalaja was speaking on the recent Statement from the EFCC on the need to prevent Money Laundering in the Real Estate Sector said the Association is in partnership with the Anti graft agency to ensure that people with suspect source of funds are prevented from laundering it through the Real Estate Sector.

He added that the Real Estate Developers in Nigeria have partnered with the EFCC who is a strong partner with REDAN with the agency having access to the accounts of all developers in Nigeria through the BVN without recourse to the Courts.

He said the Association is also registered with SCUML an arm of the Economic and Financial Crimes Commission to ensure that transactions over the sum of 5 Million Naira are reported to it for investigation so as to ensure the sources of such funds are not suspicious nor from illicit sources.

He added that banks in the country are under the directives of the EFCC not to register an account for Real Estate Business without recourse to the possession of the Certificate of membership and registration of the Real Estate Developers Association of Nigeria to prevent Money Laundering.

He disclosed that the Association will continue to partner with Government and all its agencies to ensure that the Sector does not become a cesspool of laundered and illicit funds.

Some of the measures the Real Estate Developers will ensure is implemented is the reporting of all transactions over a certain threshold through the banks to the agencies of government in charge of ensuring the sector remains clean and devoid of illicit funding.

According to Mr Onalaja, REDAN has existed for more than 20 years founded by the former Executive Governor of Lagos, Alhaji Lateef Jakande, and will do all it can to ensure it maintains discipline among its members.

He said the National Assembly is in the process of putting in place regulation for the practice of estate development in Nigeria.

Members of REDAN according to Mr Onalaja will be put in check but he said the Association which is voluntary cannot vouch for non- members of the Association who he said are responsible for over 60% of the Real Estate Development in Lagos.

He commended the Lagos State Government for what it has done so far in putting the sector in proper shape, he however asked for more to be done to ensure that Real Estate Developers not with REDAN are brought under its umbrella for proper monitoring.

He said the government is the only authority that can compel and monitor real estate sector to prevent abuses and sharp practices.

On why he is insistent on the government compelling Estate Developers to join REDAN, he said it is to ensure that in case of a collapsed building or anything like that the association is able to address the issue headlong.