‘How auctioneering bill will regulate practice’

The Registrar of the Chartered Institute of Auctioneers of Nigeria (CIAN), Adeleke Hassan, has commended members of the House of Representatives over the re-introduced HB 702 Bill.

The bill, presented by the member representing Abakaliki/Izzi Federal Constituency of Ebonyi State, Sylvester Ogbaga, recently passed its third reading.

Hassan said the bill was previously passed by both chambers during the eighth National Assembly under HB 599 but was re-introduced, among others, to regulate and control the auction profession by ensuring a minimum level of knowledge, skills, training and competency for among practitioners with provisions that deal with unethical and unprofessional conduct.

He said: “When passed into law, improper price manipulations by auctioneers and other criminal actions would be enforced and penalised appropriately. Before now, there was no statutory body for auctioneers in Nigeria.

It was an all-comers profession. There was no formal training and certification to show a minimum level of knowledge and skills.

“However, in the last 12 years, CIAN, through its professional examination scheme, has produced high-caliber certified auctioneers in real estate auctions, art, automobile among others.

“Robust professional training of the institute has contributed greatly to the growth of the auction industry in Nigeria. The institute has attracted and trained highly educated individuals and corporate institutions that want to make a career in the auction industry.”

He added that opportunities in the industry were massive in Nigeria if properly harnessed. It would create employment for the country’s growing population, eliminate wastage and reduce corruption when true professionals are engaged.

Hassan is the first Nigerian to hold the Certified Auctioneers Institute (CAI) of the United States of America and the highest qualification in the auction industry all over the world.