Estate valuation, potent anti-graft tool – Ex-Ghanaian president

Forum 10 months ago

Estate valuation, potent anti-graft tool – Ex-Ghanaian president

A former Ghanaian President, Mr John Mahama, has said advised Nigeria and other African nations to take advantage of estate valuation as a tool to check corruption.

Mahama delivered the keynote address at the 53rd annual conference of the Nigerian Institution of Estate Surveyors and Valuers, which held in Ilorin, Kwara State, on Thursday.

The ex-Ghanaian leader spoke on the topic: ‘Asset valuation as a global anti-corruption tool: The Nigeria experience’.

According to him, corruption must be fought headlong whether it occurs in the public or private sector.

“Corruption is a global challenge that hinders economic development, diverts investments from infrastructure, institutions, and social services, and undermines efforts to achieve other country-specific development goals and targets,” Mahama said.

He urged all stakeholders in Nigeria and the African sub-region to rise and defeat corruption in all its ramifications.

“The international community has embarked on a global anti-corruption fight across several sectors, including real estate.

“Real estate asset and property valuation are a critical factor in asset investment decision-making and a vital tool for the global fight against corruption.

“Considering the enormity of the consequences of perversely attributed values to assets, asset valuation deservedly demands and requires increased attention from critical actors, such as the Nigerian Institution of Estate Surveyors and Valuers.

“Our fragile financial intermediation systems’ security and growth face the significant risks from poorly done asset valuation,” Mahama charged.

In his remarks, Kwara State Governor, AbdulRahman AbdulRazaq, who was represented by his deputy, Mr Kayode Alabi, lauded NIESV for the choice of the conference theme.

The President and Chairman of Council, Nigerian Institution of Estate Surveyors and Valuers, Johnbull Amayaevbo, said the institution would collaborate with government agencies to reduce corruption to the minimum.