The move was announced on Wednesday in Abuja during the inauguration of a Joint Implementation Committee between the Independent Corrupt Practices and Other Related Offences Commission and the Institute of Mortgage Brokers and Lenders of Nigeria.
Speakers at the event included the committee’s co-chair, Dr Victor Ivoke, ICPC Executive Secretary Clifford Oparaodu, and IMBLN Vice-President ESV Ayodele Thomas.
“In some cases, you even find a single one-bedroom apartment leased to three or four different people, with money collected from all of them,” Dr Ivoke said, describing the type of malpractice the collaboration hopes to address.
He said the initiative represents the outcome of several years of concern about irregular practices within Nigeria’s real estate sector.
According to him, studies conducted by the institute revealed that questionable activities remain widespread across the property market.
“When we studied the industry, we discovered that there are many irregular and questionable activities taking place within the real estate and mortgage sector in general.