The Impartial Corrupt Procedures and other associated offences Commission (ICPC) has urged the management of the Authentic Estate Builders Association of Nigeria (REDAN) to self-control its customers as aspect of measures to avert staying applied for funds laundering and illicit economical flows (IFFs).

The ICPC chairman, Prof. Bolaji Owasanoye, gave the information in his goodwill concept at the 13th yearly standard meeting (AGM) and meeting of the association held in Enugu Point out.

Prof. Owasanoye, who was represented by the Commission’s director of Asset Tracing, Recovery and Management, Adedayo Kayode, urged the management of REDAN to introduce the Know-Your-Consumer (KYC) principles for its customers to stay away from serving as conduit for cash launderers and IFFs offenders.

He mentioned, “It is my posture that self-regulation is a way out of this quagmire for the association. REDAN really should consciously attract up programmers to build ability of its users on present day tendencies in building and also maintain its associates to the maximum stage of ethical benchmarks.

“The Affiliation must introduce and enforce superior ethical specifications for its users specially to assure their processes are not made use of for Revenue Laundering. In this regard, the Association may possibly introduce KYC rules.”

ICPC spokesperson, Azuka Ogugua, in a assertion, reported the ICPC boss also stated that the concept of the AGM, “Enhancing the Serious Estate Sector by way of Helpful Regulation and Collaborations” was in line with the Commission’s mandate of partnership and collaboration with pertinent institutions in the direction of making a mass mobilisation vanguard in the curbing of corruption and IFFs inside of the process and out of the region.

The ICPC chairman, however, expressed regrets that some associates of REDAN had been engaged by unscrupulous individuals and Politically Exposed Folks (PEPs) to launder their sick-gotten prosperity therefore exposing honest and patriotic associates of the affiliation to staying labeled corrupt by perception.

Prof. Owasanoye also encouraged the REDAN management to participate in a pivotal position in bringing down the mounting value of housing design in Nigeria as very well as closing the tremendous gap in housing building by collaborating with pertinent governing administration agencies.