The Real Estate Developers Association of Nigeria (REDAN) has called for the introduction of a Certificate of Professional Good Standing for property developers as part of efforts to improve regulation and accountability in the sector.
REDAN President, Akintoye Adeoye, made the proposal at the National Housing Data Programme Workshop organised by the Federal Ministry of Housing and Urban Development in Abuja.
A copy of his presentation, obtained by journalists on Sunday, outlined measures aimed at strengthening the developers’ registration system and ensuring continuous compliance with professional standards.
Adeoye, who is also the traditional ruler of Okeigbo community in Ondo State, suggested that the certificate should become a compulsory requirement for obtaining and renewing developers’ licences under future regulatory frameworks.
He noted that implementing the policy would require a proper legal and institutional structure, with approval expected from relevant authorities, including the Federal Executive Council and the National Assembly.
According to him, the proposed certificate should go beyond payment of association membership fees, stressing that membership alone does not guarantee adherence to industry regulations.
“Membership alone is not proof of compliance with regulatory standards,” Adeoye said.
He explained that the certificate would help verify developers’ corporate details, ownership information, responsible officers, compliance with professional requirements and adherence to ethical standards.
The REDAN president added that the certification would also assess areas such as continuing professional development, anti-money laundering compliance, professional team requirements, development records, complaints and disciplinary history.
Adeoye further recommended the creation of an Annual Developer Practice Certificate to ensure that developers maintain acceptable professional standards through regular evaluation.
He said professional recognition should not remain permanent after initial registration, adding that developers should demonstrate their competence and compliance every year.
Adeoye said the proposed reforms would reposition the developers’ register into a platform that promotes professionalism, ethical practices, transparency and accountability within Nigeria’s real estate industry.
(NAN)