NIESV advises members on ethics

The Nigerian Institutions Institution of Estate Surveyors and Valuers has charged its members to uphold the practice of estate valuing and refrain from unwholesome practices.

The President/Chairman of the council, Johnbull Amayaevbo, stated this at the 30th John Wood Ekpenyong Memorial Lecture and the 2024 induction of fellows of the Nigerian Institution of Estate Surveyors and Valuers in Abuja recently.

The theme of this year’s lecture was “The Role of the Real Estate Sector in National Economic Development”.

Amayaevbo noted that the institution would not condone any of its members who failed to comply with the principle of integrity in the charge of his or her duties as an estate surveyor and valuer.

In 2023, the institution expelled five of its members over alleged dishonesty.

He also charged the newly inducted fellows of the institute to remain committed to the continuous acquisition of knowledge and to exhibit at all times the qualities of good conduct.

He emphasised the importance of upholding professional ethics and standards, fostering continuous learning, and contributing to the growth of the institution and the nation.

He said, “The honour conferred on you today requires absolute compliance to professional ethics and standards of practice, total commitment to the aims and objectives of the institution. As fellows of this noble profession, you are expected to demonstrate the attributes of competence, ethical standards, integrity, honesty, and devotion in addition to absolute loyalty to the institution.

“Go through the constitution of the institution and the code of professional practice and strive to abide by their provisions, as ignorance of any part thereof will not be an excuse for misconduct. Please note that working overtly or covertly against the interest of the institution will be met with the stiffest sanctions and penalties.”

During the event, the NIESV launched its 2021-2023 Real Estate Market Report, which covered land prices across all 30 states and local governments, offering a valuable resource for stakeholders, governments, and potential investors.

He noted that the National Bureau of Statistics would leverage the report for an in-depth analysis of the real estate sector’s role in the economy.

“Slated for public presentation of NIESV REM 2021 to 2023 Report. Governments at all levels and her agencies, professionals, and all stakeholders in the real estate industry will find the document useful in decision-making, be it real estate investments,  valuation reports, acquisitions, and others.

“The National Bureau of Statistics and others will find this well-researched work handy in their analysis of the real estate sector of the economy,” he added.

Additionally, the NIESV president highlighted the need for a review of outdated land laws, particularly the Land Use Decree established 46 years ago.

Amayaevbo advocated for the removal of land laws from the constitution to facilitate necessary updates.

He hinted that NIESV had set plans on the way for a groundbreaking event in March, centred on land administration and management.

He noted that the initiative aimed to engage stakeholders in discussions about the merits and demerits of current land laws, stressing the dynamic nature of the world and the necessity to adapt legislation accordingly.

He said, “These efforts, combined with the insights from professionals, would guide the government towards achieving the dream of a $1tn GDP by properly harnessing the wealth of the land. The upcoming April conference aligns with this vision, focusing on the crucial role professionals play in national development and urging authorities to heed their advice.”